The massive EPS miss and widening losses driven by Bitcoin price volatility suggest continued downside risk. Monitor Bitcoin price trends and the company's ability to stabilize self-mining margins; the cloud mining segment's growth is a partial offset but insufficient to counter the overall deterioration. Next catalyst is the Q2 2026 earnings report.
Price Chart
Executive Summary
BitFuFu reported Q1 2026 revenue of $72.7M (-6.8% YoY) and a GAAP EPS of -$0.21, significantly missing the consensus estimate of $0.00. The net loss widened to $35.0M from $16.9M a year ago, driven by a $35.6M non-cash fair value loss on digital assets due to declining Bitcoin prices. Cloud Mining Solutions revenue grew 7.1% YoY to $57.5M, but Self-Mining revenue fell 35.2% and equipment sales dropped to zero, reflecting broader market headwinds.
Key Financial Metrics
Key Facts
- Revenue $72.7M, down 6.8% YoY from $78.0M
- GAAP EPS -$0.21 vs consensus $0.00 (miss of -$0.21)
- Net loss widened to $35.0M from $16.9M YoY
- Adjusted EBITDA negative $34.4M vs negative $10.8M YoY
- Non-cash fair value loss on digital assets of $35.6M (vs $20.7M YoY)
- Cloud Mining Solutions revenue grew 7.1% to $57.5M (79.1% of total)
- Self-Mining revenue fell 35.2% to $11.4M
- Mining equipment sales were nil vs $6.0M YoY
- Cash and digital assets $141.5M, down from $177.1M at Dec 31, 2025
- BTC holdings 1,794, down 2.2% YoY
Financial Impact
Revenue miss of ~$20.6M vs consensus; EPS miss of -$0.21; net loss $35.0M
Risk Factors
- Further Bitcoin price decline would amplify fair value losses and pressure revenue
- Declining self-mining revenue and zero equipment sales indicate weakening core operations
- Cash burn rate (cash + digital assets down $35.6M in one quarter) raises liquidity concerns
- High dependency on cloud mining solutions (79% of revenue) with net dollar retention of only 85.7%
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3303454 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 12d ago | 6-K | $1.31 | awaiting T+20 | — | $1.12 (−14.50%) |
Oct 13, 2026 13d ago | 6-K | $1.22 | awaiting T+20 | — | $1.12 (+8.20%) |
Sep 3, 2026 7w ago | 6-K | $1.33 $1.40 | ▲ +5.26% | ▲ +6.38% | $1.12 (−15.79%) |
Aug 17, 2026 10w ago | 6-K | $1.29 $1.36 | ▼ −5.43% | ▼ −6.95% | $1.12 (+13.18%) |
Aug 17, 2026 10w ago | Press Release | $1.29 $1.36 | ▼ −5.43% | ▼ −6.95% | $1.12 (+13.18%) |
Aug 7, 2026 11w ago | 6-K | $1.30 $1.33 | ▲ +2.31% | ▲ +2.70% | $1.12 (−13.85%) |
Jul 10, 2026 15w ago | 6-K | $1.41 $1.30 | ▲ +7.80% | ▲ +10.23% | $1.12 (+20.57%) |
Jun 22, 2026 18w ago | 6-K | $1.68 $1.40 | ▼ −16.67% | ▼ −16.52% | $1.12 (−33.33%) |
May 29, 2026 21w ago | Press Release | $1.86 $1.50 | ▲ +19.35% | ▲ +17.56% | $1.12 (+39.78%) |
May 22, 2026 22w ago | Press Release | $2.04 $1.62 | ▼ −20.59% | ▼ −19.17% | $1.12 (−45.10%) |
US Market Status
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