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Mining

Bitfufu Reports Q3 Revenue Increase of 47.5% Year Over Year

By admin
0 28

Bitfufu Reports Q3 Revenue Increase of 47.5% Year Over Year

Nasdaq-listed cloud mining services company Bitfufu has announced its unaudited financial results for the third quarter of 2024, revealing a total revenue of $90.3 million, a 47.5% increase from $61.2 million in the same period last year. The company’s cloud-mining solutions saw even more significant growth, with revenue rising 51.4% year-over-year to $68.9 million. The number of registered users surged by 75.3% to 455,764, indicating a growing interest in its services. Revenue from Bitcoin self-mining operations also increased by 40.4% to $20.5 million, driven by a rise in bitcoin prices despite a decrease in production. Adjusted EBITDA reached $5.8 million, marking the eleventh consecutive quarter of positive adjusted EBITDA.

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