In June, Singapore-based bitcoin mining firm BitFuFu achieved a record production milestone, mining a total of 445 bitcoins. This significant increase is attributed to the expansion of their operations.
Record Bitcoin Production
BitFuFu mined 445 bitcoins in June, reflecting an 11.3% rise from previous months. CEO Leo Lu attributed this achievement to the ongoing expansion of the company's mining fleet.
Expansion and Agreement with Bitmain
Earlier this year, BitFuFu entered into a substantial agreement with Bitmain to purchase up to 80,000 bitcoin miners over two years. As a result of this strategic move, the company now holds 1,792 bitcoins valued at over $193 million.
Performance Metrics and Market Situation
BitFuFu's hashrate saw a 6.2% month-over-month increase to 36.2 EH/s, primarily supplied by third-party providers. Additionally, their power capacity rose by 11.8%, reaching 728 megawatts globally. Despite market fluctuations, BitFuFu's shares experienced a modest increase of 1.16%, closing at $3.48.
June proved to be a significant month for BitFuFu, standing out amid mixed industry performance. The growth in production capacity and successful strategic partnerships highlight the company's strength in the competitive bitcoin mining landscape.
