BitFuFu Hits Record 34.1 EH/s Hashrate as Bitcoin Production Surges in May
The mining firm sold 178 BTC near May’s price peak to cover expenses and boost liquidity.
What to know:
- BitFuFu mined 400 BTC in May, a 91% jump from the previous month.
- Hashrate under management rose to 34.1 EH/s, up 20.5% month-over-month.
- The company sold 178 BTC at an average price of $104,000 to help manage operational costs.
Bitcoin mining firm BitFuFu posted a record-setting month in May, boosting its hashrate under management to 34.1 exahashes per second (EH/s) and producing 400 BTC, up 91% from April.
Most of that production came from cloud-mining clients, who generated 357 BTC, while the remaining 43 BTC came from BitFuFu’s self-mining operations. The increase was largely attributed to a full month’s use of additional machines deployed in late April. More hardware was added at the end of May, setting the stage for potential gains in June.
Hashrate under management jumped 20.5% from April and now includes 4.2 EH/s of self-owned capacity and 29.9 EH/s sourced from partners and customers. Average fleet efficiency stands at 19.1 joules per terahash, while total power capacity reached 651 megawatts, spread across sites on five continents.
BitFuFu also resumed selling bitcoin in May after a four-month pause, offloading 178 BTC at an average price of $104,000. That move, timed around bitcoin’s all-time high, helped the firm cover expenses and reinforce its balance sheet.
The Singapore-based firm now holds 1,709 BTC, down from 1,908 BTC at the end of April. CEO Leo Lu said BitFuFu remains committed to long-term Bitcoin exposure while maintaining a flexible approach to treasury management.
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