Bitcoin mining company Bitfufu posted a record month in May, increasing its controlled hash rate to 34.1 exahash (EH/s) (EH/s) and produced 400 BTC, an increase of 91% from April.
Most of its production came from the cloud mining client that generated 357 BTC, with the remaining 43 BTC coming from Bitfufu’s self-mining operations. This increase was largely due to a month’s use of the additional machines deployed in late April. More hardware was added at the end of May, setting the stage for potential profits in June.
The managed hashrate jumped 20.5% since April, and now includes a self-owned ability of 4.2 EH/s and 29.9 EH/s from partners and customers. The average fleet efficiency is 19.1 Joules per Terrahash, with total power capacity reaching 651 megawatts, spreading across sites across five continents.
Bitfufu also resumed Bitcoin sales in May after a four-month suspension, offloading 178 BTC at an average price of $104,000. The move helped the company cover its costs and strengthen its balance sheet at Bitcoin’s best time ever.
The Singapore-based company holds 1,709 BTC 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 financial management.