BitFuFu recaps participation at HC Wainwright annual conference

BitFuFu recapped its participation in the H.C. Wainwright 26th Annual Global Investment Conference held in early September in New York. During the conference, Ms. Calla Zhao, BitFuFu’s CFO, delivered a comprehensive presentation outlining the Company’s strategic initiatives and growth prospects, and engaged in one-on-one meetings with institutional investors. The company said, “One of the unique differentiators of BitFuFu’s business model is its innovative cloud-mining solutions. BitFuFu stands out from many of its peers with its proprietary platform that allows users to mine Bitcoin, eliminating traditional barriers to entry and the need for costly hardware or technical expertise. This accessible solution has attracted over 395,000 registered users, including both individual and institutional clients. BitFuFu’s cloud-mining solutions offer key benefits such as flexibility and cost-effectiveness, allowing customers to mine with minimal upfront costs an avoid issues such as hardware depreciation. This innovative approach uniquely positions BitFuFu in the mining sector. BitFuFu’s rapid growth is being fueled by its strategic partnerships with industry leaders such as BITMAIN and Antpool. These partnerships strengthen its reputation as a trusted player in the mining industry and enhance its competitive advantages with improved operational efficiencies and a reliable and steady pipeline of mining rigs. As of June 30, 2024, BitFuFu manages over 522 MW of hosting capacity across 25 sites on three continents, with an average fleet efficiency of 21.1 J/THs. BitFuFu’s financial performance over the past three years reflects its robust and growing position in the market. The Company recorded a three-year revenue CAGR of 66% and an adjusted EBITDA CAGR of 167%. In the first half of 2024, BitFuFu reported total revenues of $273.8 million, a 104% year-over-year increase. This growth highlights the effectiveness of BitFuFu’s strategies and the strong market demand for its services. As the digital asset industry continues to evolve, BitFuFu is committed to scaling its operations and exploring new business opportunities. The Company has grown total mining capacity under management to 24.7 EH/s as of June 30, 2024, and is actively assessing new mining facilities globally to begin the transition from an asset-light strategy to one that manages a diverse and robust portfolio of Bitcoin mining infrastructure. This strategic focus on cloud mining, self-mining, and hosting services ensures that BitFuFu has the flexibility to adapt to all market cycles. As the Company looks ahead, it remains well-equipped to meet the demands of a rapidly changing market, leveraging its innovative technology, strong partnerships, and robust financial foundation to seize new opportunities.”