Report: Bitfu's total revenue in the first quarter exceeded 140 million USD, a year-on-year increase of 149%

ChainCatcher news, Bitcoin mining company BitFuFu announced its unaudited first quarter financial report for the period ending March 31, 2024, with total revenue of $144.4 million, an increase of 149% compared to $58 million in the same period of 2023; revenue from cloud mining solutions was $81.5 million, up 181% from $29 million in the same period of 2023.

As of March 31, 2024, its consolidated cash, cash equivalents, and digital assets balance was $163.7 million.

Due to the increased difficulty in BTC mining, BitFuFu's self-mined BTC output in the first quarter decreased by 11% from 1,239 BTC in the same period of 2023 to 1,103 BTC. Revenue from Bitcoin self-mining operations was $60.1 million, an increase of 117% compared to $27.7 million in the same period of 2023. (Globenewswire)