BitFuFu Cuts Self-Mined Bitcoin by 60% in 2025

BitFuFu just dropped its 2025 financials — and the numbers tell a wild story of strategic reinvention. The Singapore-based Bitcoin miner reported $475.8M in revenue, up 2.7% YoY, but the real tea is in the mix: cloud mining now dominates their game.

Self-mined BTC plummeted 76% — from 2,537 BTC in 2024 to just 611 BTC last year. Meanwhile, their Bitcoin stash grew slightly to 1,778 BTC (up from 1,720 BTC). The company blames weaker earnings per terahash, higher mining difficulty, and a deliberate shift of hashrate away from self-mining.

Why the pivot? BitFuFu says it reallocated hashrate to cloud mining after daily Bitcoin earnings per terahash crashed 52%. They cut self-mining hashrate by 47% — though rising BTC prices helped cushion the blow. Bottom line: they're chasing capital efficiency and predictable revenue streams.

Self-mining revenue nosedived ~60% to $63.1M (from $157.5M in 2024). Ouch.

Cloud mining revenue hit $350.6M in 2025 — a whopping 74% of total revenue. That's up from 58.5% ($271M) in 2024. Translation: cloud is now their main hustle.

Total BTC production across both segments was 3,662 BTC: 611 BTC from self-mining + 3,051 BTC from cloud-mining customers. They also boosted mining equipment sales by 76% YoY to $53.7M.

BitFuFu added just 58 BTC to its treasury last year — but they're not done stacking. Their 2026 plan: 'scale our cloud mining business, expand hashrate and power capacity with discipline, and continue building our Bitcoin treasury.'

CEO Leo Lu says they'll focus on acquiring mining infrastructure and exploring partnership opportunities for vertical integration. Basically, they're going all-in on the cloud model while keeping an eye on strategic moves.

Magazine plug: 'The debate over Bitcoin’s four-year cycle is over: Benjamin Cowen' — because why not keep the convo going?