BitFu's total revenue for the second quarter exceeded $129 million, an increase of 69.7%
Bitcoin mining company BitFuFu announced its unaudited financial results for the second quarter ending June 30, 2024. Total revenue was $129.4 million, up 69.7% from the same period in 2023. Revenue from cloud mining solutions was $77 million, an increase of 66.8% year-on-year. Revenue from Bitcoin self-mining business was $51.1 million, up by 81% year-on-year. Net income was $1.3 million, compared to $5.1 million in the same period in 2023.
As of June 30, 2024, the combined balance of cash, cash equivalents and digital assets was $155 million while it stood at $76 million as of December 31st ,2023.
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