BitFuFu

BitFuFu Inc.

Treasury Qualification

Treasury classificationBitcoin Miner with Strategic Holdings

Qualification tierPending qualification

Directory statusNeeds Review

Ownership statusHOLD - methodology review required. The August 31, 2026 headline is 1,373 BTC, but the 44 BTC pledged for loans/procurement lacks a control breakdown distinguishing owned collateral from contractual claims. Neither 1,373 nor a subtraction-derived 1,329 BTC is established as eligible. Customer mining BTC is excluded. The legacy May 31 figure of 1,855 BTC is historical provenance only. The 482-BTC headline decline since May is not fully reconciled: June describes debt repayment and procurement prepayments, while August holdings increased 59 BTC through improved production/operations. No single cause is assigned to the full decline.

Strategic intent

BitFuFu retains company-owned Bitcoin generated through self-mining and actively manages the balance under a stated treasury strategy. Management has repeatedly expressed a long-term objective of increasing Bitcoin holdings and shifting resources toward self-mining when market conditions favor accumulation.

Bitcoin Treasury

Last verified attributable BTCUnknown

Balance dateNot established

Estimated valueUnavailable

Average purchase priceNot disclosed

Not included in totals

HOLD — current attributable BTC remains unresolved

Separately reported BTC — not used in totals

1,373 BTC · Balance date: August 31, 2026

HOLD - methodology review required. The August 31, 2026 headline is 1,373 BTC, but the 44 BTC pledged for loans/procurement lacks a control breakdown distinguishing owned collateral from contractual claims. Neither 1,373 nor a subtraction-derived 1,329 BTC is established as eligible. Customer mining BTC is excluded. The legacy May 31 figure of 1,855 BTC is historical provenance only. The 482-BTC headline decline since May is not fully reconciled: June describes debt repayment and procurement prepayments, while August holdings increased 59 BTC through improved production/operations. No single cause is assigned to the full decline.

Reported BTC source

Ownership and Restrictions

Component figures are shown only when separately disclosed and may overlap; they are not additive. Components refer to the eligible balance date unless dated otherwise in research notes. “Not separately disclosed” does not imply zero.

Total BTC reported1,373

Unencumbered / unrestrictedNot separately disclosed

Pledged as collateralNot separately disclosed

Loaned to third parties0

Subsidiary-ownedNot separately disclosed

Other restricted owned BTC0

Latest Financial Results

Reporting period: Three months ended June 30, 2026

Revenue$42,760,000

Operating income/loss$-21,911,000

Net income/loss$-20,542,000

Cash$22,220,000

Management

Chief executive officer: Leo Lu
Chief financial officer: Calla Zhao
Executive chair: Leo Lu

Research Notes

BitFuFu reported 1,855 BTC held as of May 31, 2026, an increase of 43 BTC from April 30. The total includes 119 BTC pledged for loans and excludes Bitcoin produced or pledged by cloud-mining customers. Accordingly, 1,736 BTC are treated as not identified as pledged and 119 BTC as pledged. The company produced 177 BTC during May, consisting of 90 BTC from self-mining and 87 BTC produced for cloud-mining customers; customer-produced Bitcoin is not included in the corporate treasury total. Management stated that it views current market conditions as a long-term accumulation opportunity and intends to build its Bitcoin holdings. First-quarter 2026 revenue was $72.660 million, operating loss was $37.947 million, and net loss was $34.951 million. At March 31, 2026, cash and cash equivalents were $36.220 million, total assets were $279.601 million, and total liabilities were $164.808 million. September 29, 2026 methodology and financial refresh: HOLD - methodology review required. The August 31, 2026 headline is 1,373 BTC, but the 44 BTC pledged for loans/procurement lacks a control breakdown distinguishing owned collateral from contractual claims. Neither 1,373 nor a subtraction-derived 1,329 BTC is established as eligible. Customer mining BTC is excluded. The legacy May 31 figure of 1,855 BTC is historical provenance only. The 482-BTC headline decline since May is not fully reconciled: June describes debt repayment and procurement prepayments, while August holdings increased 59 BTC through improved production/operations. No single cause is assigned to the full decline. USD, Q2 2026 (three months ended June 30; balance sheet at June 30). "Total revenues" 42,760,000; operating result -21,911,000. "Net (loss)/income and total comprehensive (loss)/income" -20,542,000 is consolidated and precedes noncontrolling-interest attribution. CFO Calla Zhao remains unconfirmed in sufficiently recent evidence; the existing field is unchanged and no successor is inferred. Financial source: https://www.sec.gov/Archives/edgar/data/1921158/000121390026090474/ea030213301ex99-1.htm (source date: August 17, 2026). Existing holdings_source_url retains legacy provenance only; it does not certify an eligible balance. Headline source: https://www.sec.gov/Archives/edgar/data/1921158/000121390026096934/ea030437201ex99-1.htm (published September 3, 2026; balance August 31, 2026). Historical notes above are preserved as dated history; earlier eligibility descriptions do not override this review. The existing last_verified date is unchanged and is not a blanket verification of unresolved fields.