BitFuFu’s total revenue in the first quarter exceeded US$140 million, a year-on-year increase of 149%

Bitcoin mining company BitFuFu has released its unaudited Q1 financial report ending on March 31, 2024, with a total revenue of $144.4 million, a 149% increase from the same period in 2023 ($58 million); cloud mining solution revenue was $81.5 million, an 181% increase from the same period in 2023 ($29 million).As of March 31, 2024, the combined balance of its cash, cash equivalents, and digital assets was $163.7 million.Due to the increase in BTC mining difficulty, BitFuFu's self-mined BTC production in Q1 decreased by 11% from 1,239 BTC in the same period in 2023 to 1,103 BTC. Bitcoin self-mining business revenue was $60.1 million, a 117% increase from the same period in 2023 ($27.7 million). (Globenewswire)