Bitfufu Inc.

Annual Trend FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Total revenues $103.0m $198.2m $284.1m $463.3m $477.5m
Total cost of revenues ($94.0m) ($162.0m) ($271.4m) ($433.6m) ($448.6m)
Gross profit $9.0m $36.2m $12.7m $29.7m $28.9m
Credit loss provision for receivables ($608k) ($100k) ($981k)
Gain on sale of recovery rights on assets held by FTX $7.3m
Impairment loss on digital assets ($12.9m) ($7.0m)
Impairment loss on mining equipment ($11.8m) ($8.1m) ($25.4m)
Changes in fair value of digital asset receivables or payables ($1.3m) $1.2m
Changes in fair value of digital assets $18.2m $76.9m ($8.7m)
Loss on disposal of mining equipment ($3.4m)
Operating (loss)/income $5.8m $3.9m $16.6m $66.2m ($23.8m)
Investment income $135k $343k $1.1m $416k $462k
Interest income $343k $1.1m $1.6m $2.3m
Net (loss)/income and total comprehensive (loss)/income attributable to ordinary shareholders $10.5m $54.0m ($31.1m)
Ordinary shares - basic (in Shares) $142.5m $149.4m $150.0m $161.0m ($0)
Ordinary shares - diluted (in Shares) $149.4m $150.0m $165.5m ($0)
Total Comprehensive (loss)/income attributable to ordinary shareholders of the Company $4.9m $2.4m $10.5m $54.0m ($31.3m)
(Loss)/income before income taxes $6.0m $1.8m $12.7m $61.6m ($29.3m)
Less: Net income attributable to non-controlling interests $2.4m $10.5m $54.0m $110k
Sales and marketing expenses ($1.6m) ($2.0m) ($1.9m) ($7.5m) ($3.7m)
General and administrative expenses ($1.4m) ($2.7m) ($3.7m) ($25.3m) ($9.1m)
Research and development expenses ($470k) ($1.6m) ($1.7m) ($5.6m) ($2.5m)
Interest expense ($2.5m) ($5.5m) ($6.3m) ($8.6m)
Other income/(expense), net ($1k) $50k $587k ($277k) $311k
Income tax expense $1.0m ($666k) $2.2m $7.7m $1.9m
Total operating (expenses)/income ($3.2m) ($32.3m) $3.9m $36.5m ($52.7m)