H.C. Wainwright Lowers BitFuFu Inc. (FUFU) PT on Weaker Bitcoin Mining Backdrop

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TheFly reported on March 23 that H.C. Wainwright reduced its price target for FUFU to $4 from $7 while maintaining a Buy rating on the stock. The adjustment reflects the company’s recent share price movements as well as a significantly weaker environment for bitcoin mining.

Earlier on March 20, BitFuFu Inc. (NASDAQ:FUFU) released its unaudited financial results for the year ended December 31, 2025. The company reported total revenue of $475.8 million, up 2.7% from $463.3 million in 2024, supported by stronger contributions from cloud mining, mining equipment sales, and hosting-related business, while self-mining revenue declined.

H.C. Wainwright Lowers BitFuFu Inc. (FUFU) PT on Weaker Bitcoin Mining Backdrop

FUFU posted a net loss of $57.4 million for 2025, compared with net income of $54.0 million a year earlier, largely due to unfavorable fair value adjustments tied to digital assets and receivables, along with equipment impairment charges. Adjusted EBITDA fell sharply to $8.3 million from $117.9 million in 2024, reflecting the impact of a $32.8 million non-cash fair value loss linked to weaker Bitcoin prices.

As of December 31, 2025, combined cash, cash equivalents, and digital assets stood at $177.1 million, nearly unchanged from $175.1 million at the end of 2024.

BitFuFu Inc. (NASDAQ:FUFU) is a Bitcoin mining and mining services company that provides cloud mining, self-mining, and hosting solutions, helping users and institutions access Bitcoin mining infrastructure more efficiently.

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