Mining company BitFuFu, a notable player in the market, experienced a significant decline in Bitcoin mining volumes in June. During the month, the company mined 125 BTC, which is 29.4% less than in May. This drop is directly linked to a reduction in BitFuFu's total managed hashrate from 19.5 EH/s to 15.3 EH/s, caused by the expiration of several cloud mining contracts.
However, behind this seemingly negative statistic lies a fundamentally important strategic shift. The company's own mining capacity, on the contrary, reached a record level of 3.5 EH/s. This growth was made possible by the deployment of 1,200 new-generation Antminer S21 XP ASIC miners, which offer high energy efficiency and performance.
At the same time, BitFuFu reduced its Bitcoin reserves to 1,671 BTC. This decline is not a sign of liquidity issues but represents a deliberate move: part of the reserves was allocated to prepay for new capacity totaling 5.3 EH/s. Thus, the company is actively investing in the future, sacrificing current mining output and reserves in favor of expanding its own high-efficiency equipment.
Analytical commentary: The decline in mining output amid a shift away from cloud contracts, coupled with the simultaneous increase in proprietary hashrate, is a classic sign of a transition to a model of full infrastructure control. BitFuFu is betting on long-term efficiency rather than short-term volumes. The prepayment for new capacity of 5.3 EH/s indicates strong management confidence in the future growth of the network and Bitcoin's price. This is a bold but logical step amid intensifying competition in mining.