In June, mining company BitFuFu experienced a sharp decline in Bitcoin mining volumes — just 125 BTC, which is 29.4% less compared to May. This is not a coincidence, but a direct consequence of a reduction in the total hash rate under the company's management, from 19.5 EH/s to 15.3 EH/s. The reason is the expiration of several cloud mining contracts, which temporarily weakened production indicators.
However, behind this decline lies a strategic shift. BitFuFu is actively increasing its own capacity, which has reached a record 3.5 EH/s. The key driver is the deployment of 1,200 of the latest Antminer S21 XP ASIC miners. This indicates a transition from reliance on third-party contracts to control over its own equipment, which in the long term increases business resilience.
The company's Bitcoin reserves have decreased to 1,671 BTC — part of the reserves were allocated to prepay for new capacity totaling 5.3 EH/s. This is an aggressive investment strategy: BitFuFu is sacrificing current liquidity for future growth. In a volatile market environment, this approach may be risky, but it demonstrates confidence in Bitcoin's long-term potential.
Expert commentary: A 30% drop in mining output is not a sign of weakness, but a temporary adjustment. BitFuFu is betting on its own hash rate, which reduces operational risks and increases margins. However, investors should monitor how quickly the new capacity begins to yield results — if delays persist, pressure on the company's balance sheet will intensify.