In Q2 2025, the company's net income soared to $47.1 million from just $1.3 million a year earlier, driven by a substantial unrealized fair value gain of $39.6 million from Bitcoin appreciation.

Operational highlights include a 57.7% rise in cloud-mining registered users to 623,114 and a 4.1% increase in Bitcoin holdings to 1,792 BTC.

Digital assets and cash holdings grew by 25.8% to $211.4 million as of June 30, 2025, driven by Bitcoin appreciation and strategic treasury management.

Self-mining revenue declined by 71% to $14.8 million, impacted by the April 2024 Bitcoin halving and increased network difficulty, which reduced daily Bitcoin earnings and hash rate.

For Q2 2025, BitFuFu Inc. reported unaudited revenue of $115.4 million, up 47.9% quarter-over-quarter, driven by demand for cloud-mining and expansion of mining capacity.

Mining equipment sales increased sharply to $5.2 million from $0.1 million, supported by favorable Bitcoin price trends and strategic partnerships.

The company's total managed hash rate grew by 46.6% to 36.2 EH/s, supported by ongoing infrastructure expansion, including increased hosting capacity to 728 MW.

Revenue from cloud-mining solutions hit a record $94.3 million, up 22.3% year-over-year, fueled by rising customer demand, repeat purchases, and greater institutional participation.

The company maintained prudent expense management, reducing operating expenses and costs of revenue, while also recognizing gains from fair value adjustments and digital asset sales.

Adjusted EBITDA surged to $60.7 million from $8.3 million in the same period last year, reflecting significant improvements in operational efficiency.