CandleFocus Bitfufu Reports Q3 Revenue Increase of 47.5% Year Over Year
2024-11-06
Author: Content Editor
Bitfufu, a cloud mining services company, has reported unaudited financial results for Q3 2024, showing a total revenue of $90.3 million, a 47.5% increase from the same period last year. The company's cloud-mining solutions experienced significant growth, with revenue rising by 51.4% YoY to $68.9 million. The number of registered users also surged by 75.3% to 455,764. Furthermore, revenue from Bitcoin self-mining operations increased by 40.4% to $20.5 million, driven by rising Bitcoin prices despite a decrease in production. Bitfufu achieved an adjusted EBITDA of $5.8 million, marking the eleventh consecutive quarter of positive adjusted EBITDA.
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