Tearsheet

BitFuFu (FUFU)

Market Price (10/31/2025): $3.425 | Market Cap: $559.2 Mil
Sector: Financials | Industry: Diversified Capital Markets

BitFuFu (FUFU)

Market Price (10/31/2025): $3.425
Market Cap: $559.2 Mil
Sector: Financials
Industry: Diversified Capital Markets

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.5%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.0%		Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -23 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -6.0%
1			Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -9.6%, Rev Chg QQuarterly Revenue Change % is -11%

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.5%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.0%
1	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -23 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -6.0%
2	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -9.6%, Rev Chg QQuarterly Revenue Change % is -11%

Market Valuation & Key Metrics

Valuation
Key Metrics

	10/31/25	2024	2023	2022	2021
Share Price CYE	$3.42	$4.95
Market Cap CYE ($ Mil)	559.2	809.9	-	-	-
Total Debt ($ Mil)	40.0	35.0	0.0	0.0	0.0
Total Cash ($ Mil)	40.1	38.2	32.0	61.7	13.3
Enterprise Value ($ Mil)	559.1	844.9
Valuation Ratios
P/S TTM	1.5	1.7	0.0	0.0	0.0
P/EBIT TTM	9.6	11.7	0.0	0.0	0.0
P/E TTM	11.8	14.8	0.0	0.0	0.0
Sector Ratios
P/S TTM (Sector)	3.0	3.0	2.8	2.7	3.3
P/EBIT TTM (Sector)	6.8	6.8	7.0	6.2	6.8
P/E TTM (Sector)	11.8	11.5	10.1	9.3	9.9

	10/31/25	2024	2023
Share Price CYE	$3.42	$4.95
Market Cap CYE ($ Mil)	559.2	809.9	-
Total Debt ($ Mil)	40.0	35.0	0.0
Total Cash ($ Mil)	40.1	38.2	32.0
Enterprise Value ($ Mil)	559.1	844.9
Valuation Ratios
P/S TTM	1.5	1.7	0.0
P/EBIT TTM	9.6	11.7	0.0
P/E TTM	11.8	14.8	0.0
Sector Ratios
P/S TTM (Sector)	3.0	3.0	2.8
P/EBIT TTM (Sector)	6.8	6.8	7.0
P/E TTM (Sector)	11.8	11.5	10.1

	FUFU	S&P 500
REVENUE GROWTH	VERY POOR
Rev LTM ($ Bil)	0.4
Rev Chg Q	-10.8%	6.4%
Rev Chg LTM	-9.6%	5.4%
Rev Chg 3Y Avg	-9.6%	5.3%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	-0.0
CFO LTM ($ Bil)	�
Net Inc LTM ($ Bil)	0.0
Op Mgn LTM	-6.0%	18.7%
Net Inc Mgn	12.4%	12.8%
VALUATION	LOW
P/S	1.5	3.2
P/E	11.8	23.6

FUFU Stock

Return (1M):

Factor Drivers of Stock Movement

The -5.5% change in FUFU stock from 7/31/2025 to 10/30/2025 was primarily driven by a -96.5% change in the company's P/E Multiple.

	7312025	10302025	Change
Stock Price ($)	3.63	3.43	-5.51%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	396.96	382.94	-3.53%
Net Income Margin (%)	0.45%	12.42%	2666.10%
P/E Multiple	332.07	11.77	-96.46%
Shares Outstanding (Mil)	163.11	163.27	-0.10%
Cumulative Contribution			-5.51%

LTM = Last Twelve Months as of date shown

The 4.9% change in FUFU stock from 5/1/2025 to 10/30/2025 was primarily driven by a 18.7% change in the company's P/E Multiple.

	5012025	10302025	Change
Stock Price ($)	3.27	3.43	4.89%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	463.33	382.94	-17.35%
Net Income Margin (%)	11.65%	12.42%	6.68%
P/E Multiple	9.91	11.77	18.72%
Shares Outstanding (Mil)	163.61	163.27	0.21%
Cumulative Contribution			4.89%

LTM = Last Twelve Months as of date shown

The -31.8% change in FUFU stock from 10/30/2024 to 10/30/2025 was primarily driven by a -43.5% change in the company's P/E Multiple.

	10302024	10302025	Change
Stock Price ($)	5.03	3.43	-31.81%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	423.70	382.94	-9.62%
Net Income Margin (%)	9.28%	12.42%	33.91%
P/E Multiple	20.84	11.77	-43.53%
Shares Outstanding (Mil)	162.90	163.27	-0.22%
Cumulative Contribution			-31.81%

LTM = Last Twelve Months as of date shown

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Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
FUFU Return	-	-	-	-	-	-31%	-29%
Peers Return	-1%	0%	0%	0%	-18%	16%	-6%
S&P 500 Return	16%	27%	-19%	24%	23%	16%	110%
Monthly Win Rates [3]
FUFU Win Rate	-	-	-	-	44%	44%
Peers Win Rate	2%	0%	0%	0%	10%	19%
S&P 500 Win Rate	58%	75%	42%	67%	75%	67%
Max Drawdowns [4]
FUFU Max Drawdown	-	-	-	-	-	-39%
Peers Max Drawdown	-1%	0%	0%	0%	-19%	-36%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: ABTC, FIGR, GEMI, GRAN, GSIW.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/30/2025 (YTD)

How Low Can It Go

FUFU has limited trading history. Below is the Financials sector ETF (XLF) in its place.

Unique Key	Event	XLF	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-26.9%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	36.7%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	525 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-43.3%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	76.5%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	295 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-26.1%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	35.2%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	338 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-83.7%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	515.2%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	4470 days	1480 days

Compare to

In The Past

SPDR Select Sector Fund's stock fell -26.9% during the 2022 Inflation Shock from a high on 1/12/2022. A -26.9% loss requires a 36.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About BitFuFu (FUFU)

Business Description

BitFuFu Inc. provides digital asset mining and cloud-mining services in Singapore. It also offers miner rental, and miner hosting and sales services to institutional customers and individual digital asset enthusiasts. The company is based in Singapore, Singapore.

Better Bets than BitFuFu (FUFU)

	FUFU	Better Performance than FUFU
Metric	Value	Industry (Diversified Capital Markets)
Rev Chg LTM	-9.6%	HOOD (59.6%), LPLA (29.2%), TW (28.0%), IREN (167.7%), XP (0.3%)
Op Mgn LTM	-6.0%	HOOD (39.0%), LPLA (12.9%), TW (39.3%), IREN (4.4%), HUT (59.4%)
Total Yield	8.5%	XP (73.6%), LAZ (9.6%), MRX (11.6%), OPY (13.1%), BTM (41.5%)

	FUFU	Better Performance than FUFU
Metric	Value	Sector (Financials)
Rev Chg LTM	-9.6%	JPM (8.2%), V (11.4%), MA (13.1%), BAC (5.4%), WFC (-1.7%)
Op Mgn LTM	-6.0%	V (66.5%), MA (58.0%), BLK (35.6%), SPGI (39.2%), HOOD (39.0%)
Total Yield	8.5%	WFC (9.3%), RY (9.3%), TD (14.9%), PGR (11.0%), CB (10.1%)

	FUFU	Better Performance than FUFU
Metric	Value	All Other Sectors
Rev Chg LTM	-9.6%	NVDA (71.6%), AAPL (6.0%), MSFT (15.6%), GOOGL (13.4%), AMZN (10.9%)
Op Mgn LTM	-6.0%	NVDA (58.1%), AAPL (31.9%), MSFT (46.3%), GOOGL (32.2%), AMZN (11.4%)
Total Yield	8.5%	XOM (9.7%), BABA (36.3%), TM (2018.7%), CVX (9.6%), MRK (11.3%)

		Best Bets In Financials Sector
	FUFU	DBRG	OTF	MTG	NMIH	CACC	ENVA	FNF	ACGL	APAM	FI
What You Pay
P/E	11.8	39.7	13.2	8.4	7.5	12.3	10.2	13.9	8.6	10.5	10.6
P/EBIT	9.6	64.7	9.0	6.4	5.5	9.9	7.8	8.9	7.6	6.1	5.8
What You Get
Rev Chg Q	-10.8%	-102.4%	1,228.5%	-0.7%	7.2%	8.3%	16.3%	16.8%	22.4%	4.4%	8.0%
Rev Chg LTM	-9.6%	-84.8%	89.0%	2.2%	10.0%	12.5%	21.1%	7.4%	23.5%	10.0%	6.7%
Rev Chg 3Y Avg	�	125.8%	221.9%	1.2%	10.1%	6.9%	23.5%	-0.7%	29.8%	0.2%	7.5%
FCF/Rev 3Y Avg	�	101.2%	76.2%	62.2%	58.8%	57.1%	54.7%	50.8%	38.4%	29.0%	20.7%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 21%, alpha of 9.1%, and sharpe of 0.94

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	How Low Can BitFuFu Stock Really Go?	Return

	Title
0	ARTICLES
1	How Low Can BitFuFu Stock Really Go?

Trade Ideas

Select past ideas related to FUFU. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
HLNE_9302025_Dip_Buyer_FCFYield	09302025	HLNE	Hamilton Lane	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-14.4%	-14.4%	-14.4%
CNS_9302025_Dip_Buyer_ValueBuy	09302025	CNS	Cohen & Steers	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	5.9%	5.9%	-1.6%
JKHY_9262025_Monopoly_xInd_xCD_Getting_Cheaper	09262025	JKHY	Jack Henry & Associates	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	0.3%	0.3%	-2.1%
FDS_9192025_Monopoly_xInd_xCD_Getting_Cheaper	09192025	FDS	FactSet Research Systems	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	-7.7%	-7.7%	-7.7%
IBKR_9052025_Quality_Momentum_RoomToRun_10%	09052025	IBKR	Interactive Brokers	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	15.0%	15.0%	0.0%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
HLNE_9302025_Dip_Buyer_FCFYield	09302025	HLNE	Hamilton Lane	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-14.4%	-14.4%	-14.4%
CNS_9302025_Dip_Buyer_ValueBuy	09302025	CNS	Cohen & Steers	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	5.9%	5.9%	-1.6%
JKHY_9262025_Monopoly_xInd_xCD_Getting_Cheaper	09262025	JKHY	Jack Henry & Associates	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	0.3%	0.3%	-2.1%
FDS_9192025_Monopoly_xInd_xCD_Getting_Cheaper	09192025	FDS	FactSet Research Systems	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	-7.7%	-7.7%	-7.7%
IBKR_9052025_Quality_Momentum_RoomToRun_10%	09052025	IBKR	Interactive Brokers	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	15.0%	15.0%	0.0%

Recent Active Movers

1 Day Top Gainers

#	Ticker	Company	1D Rtn	YTD Rtn
1	GH	Guardant Health	27.9%	202.5%
2	GCI	Gannett	27.7%	3.8%
3	FORM	FormFactor	24.2%	34.7%
4	VIAV	Viavi Solutions	22.3%	69.3%
5	GSAT	Globalstar	22.2%	63.5%
6	MTSR	Metsera	22.1%	63729900.0%
7	PRM	Perimeter Solutions	21.1%	102.3%
8	CHRW	C.H. Robinson Worldwide	19.7%	52.6%
9	INSM	Insmed	16.3%	181.3%
10	CAH	Cardinal Health	15.4%	62.8%

1 Day Top Losers

#	Ticker	Company	1D Rtn	YTD Rtn
1	FMC	FMC	-46.5%	-66.6%
2	APLS	Apellis Pharmaceuticals	-31.0%	-35.0%
3	THRY	Thryv	-30.2%	-44.8%
4	SFM	Sprouts Farmers Market	-26.1%	-39.2%
5	IART	Integra Lifesciences	-23.5%	-47.9%
6	ITRI	Itron	-21.1%	0.4%
7	WOLF	Wolfspeed	-18.2%
8	CMG	Chipotle Mexican Grill	-18.2%	-46.1%
9	CI	Cigna	-17.4%	-9.2%
10	EME	EMCOR	-16.6%	43.0%

1 Week Top Gainers

#	Ticker	Company	1W Rtn	YTD Rtn
1	INBX	Inhibrx Biosciences	176.8%	409.8%
2	PUMP	ProPetro	71.2%	16.2%
3	RNA	Avidity Biosciences	43.5%	139.6%
4	DYN	Dyne Therapeutics	42.8%	-0.0%
5	GCI	Gannett	39.3%	3.8%
6	FORM	FormFactor	38.3%	34.7%
7	MBX	MBX Biosciences	35.1%	18.2%
8	BBNX	Beta Bionics	33.8%
9	GH	Guardant Health	33.3%	202.5%
10	LUMN	Lumen Technologies	32.7%	94.7%

1 Week Top Losers

#	Ticker	Company	1W Rtn	YTD Rtn
1	PMI	Picard Medical	-75.2%	5106.3%
2	LRN	Stride	-56.1%	-35.8%
3	NTLA	Intellia Therapeutics	-52.6%	5.2%
4	FMC	FMC	-48.7%	-66.6%
5	FI	Fiserv	-47.4%	-68.3%
6	VRNS	Varonis Systems	-43.8%	-21.2%
7	THRY	Thryv	-33.4%	-44.8%
8	NFE	New Fortress Energy	-30.5%	-91.9%
9	AKBA	Akebia Therapeutics	-29.5%	10.5%
10	UAMY	United States Antimony	-28.9%	371.2%

1 Month Top Gainers

#	Ticker	Company	1M Rtn	YTD Rtn
1	PRAX	Praxis Precision Medicines	279.1%	161.2%
2	INBX	Inhibrx Biosciences	131.0%	409.8%
3	PUMP	ProPetro	99.6%	16.2%
4	DYN	Dyne Therapeutics	88.4%	-0.0%
5	VICR	Vicor	85.4%	89.2%
6	CELC	Celcuity	74.6%	503.2%
7	GLUE	Monte Rosa Therapeutics	73.5%	87.5%
8	NVTS	Navitas Semiconductor	72.1%	251.8%
9	LUMN	Lumen Technologies	70.3%	94.7%
10	BALY	Ballys	63.4%	4.1%

1 Month Top Losers

#	Ticker	Company	1M Rtn	YTD Rtn
1	PMI	Picard Medical	-62.9%	5106.3%
2	LRN	Stride	-53.8%	-35.8%
3	FMC	FMC	-51.0%	-66.6%
4	FI	Fiserv	-48.3%	-68.3%
5	NFE	New Fortress Energy	-43.6%	-91.9%
6	VG	Venture Global	-41.7%
7	OGN	Organon	-40.2%	-55.0%
8	VRNS	Varonis Systems	-39.5%	-21.2%
9	ITGR	Integer	-38.5%	-52.2%
10	LENZ	LENZ Therapeutics	-37.9%	5.5%

Recent Active Movers

1 Day Top Gainers

#	Ticker	Company	1D Rtn	YTD Rtn
1	GH	Guardant Health	27.9%	202.5%
2	GCI	Gannett	27.7%	3.8%
3	FORM	FormFactor	24.2%	34.7%
4	VIAV	Viavi Solutions	22.3%	69.3%
5	GSAT	Globalstar	22.2%	63.5%
6	MTSR	Metsera	22.1%	63729900.0%
7	PRM	Perimeter Solutions	21.1%	102.3%
8	CHRW	C.H. Robinson Worldwide	19.7%	52.6%
9	INSM	Insmed	16.3%	181.3%
10	CAH	Cardinal Health	15.4%	62.8%

1 Day Top Losers

#	Ticker	Company	1D Rtn	YTD Rtn
1	FMC	FMC	-46.5%	-66.6%
2	APLS	Apellis Pharmaceuticals	-31.0%	-35.0%
3	THRY	Thryv	-30.2%	-44.8%
4	SFM	Sprouts Farmers Market	-26.1%	-39.2%
5	IART	Integra Lifesciences	-23.5%	-47.9%
6	ITRI	Itron	-21.1%	0.4%
7	WOLF	Wolfspeed	-18.2%
8	CMG	Chipotle Mexican Grill	-18.2%	-46.1%
9	CI	Cigna	-17.4%	-9.2%
10	EME	EMCOR	-16.6%	43.0%

1 Week Top Gainers

#	Ticker	Company	1W Rtn	YTD Rtn
1	INBX	Inhibrx Biosciences	176.8%	409.8%
2	PUMP	ProPetro	71.2%	16.2%
3	RNA	Avidity Biosciences	43.5%	139.6%
4	DYN	Dyne Therapeutics	42.8%	-0.0%
5	GCI	Gannett	39.3%	3.8%
6	FORM	FormFactor	38.3%	34.7%
7	MBX	MBX Biosciences	35.1%	18.2%
8	BBNX	Beta Bionics	33.8%
9	GH	Guardant Health	33.3%	202.5%
10	LUMN	Lumen Technologies	32.7%	94.7%

1 Week Top Losers

#	Ticker	Company	1W Rtn	YTD Rtn
1	PMI	Picard Medical	-75.2%	5106.3%
2	LRN	Stride	-56.1%	-35.8%
3	NTLA	Intellia Therapeutics	-52.6%	5.2%
4	FMC	FMC	-48.7%	-66.6%
5	FI	Fiserv	-47.4%	-68.3%
6	VRNS	Varonis Systems	-43.8%	-21.2%
7	THRY	Thryv	-33.4%	-44.8%
8	NFE	New Fortress Energy	-30.5%	-91.9%
9	AKBA	Akebia Therapeutics	-29.5%	10.5%
10	UAMY	United States Antimony	-28.9%	371.2%

Peer Comparisons for BitFuFu

Financials

	FUFU	ABTC	FIGR	GEMI	GRAN	GSIW	Median
Name	BitFuFu	American.	Figure T.	Gemini S.	Grande	Garden S.
Mkt Price	3.43	5.15	40.66	17.49	2.70	0.16	4.29
Mkt Cap	0.6	-	-	-	-	-	0.6
Rev LTM	383	-	-	-	-	-	383
Op Inc LTM	-23	-	-	-	-	-	-23
FCF LTM	-	-	-	-	-	-	-
FCF 3Y Avg	-	-	-	-	-	-	-
CFO LTM	-	-	-	-	-	-	-
CFO 3Y Avg	-	-	-	-	-	-	-

Growth & Margins

	FUFU	ABTC	FIGR	GEMI	GRAN	GSIW	Median
Name	BitFuFu	American.	Figure T.	Gemini S.	Grande	Garden S.
Rev Chg LTM	-9.6%	-	-	-	-	-	-9.6%
Rev Chg 3Y Avg	-	-	-	-	-	-	-
Rev Chg Q	-10.8%	-	-	-	-	-	-10.8%
QoQ Delta Rev Chg LTM	-3.5%	-	-	-	-	-	-3.5%
Op Mgn LTM	-6.0%	-	-	-	-	-	-6.0%
Op Mgn 3Y Avg	-	-	-	-	-	-	-
QoQ Delta Op Mgn LTM	0.1%	-	-	-	-	-	0.1%
CFO/Rev LTM	-	-	-	-	-	-	-
CFO/Rev 3Y Avg	-	-	-	-	-	-	-
FCF/Rev LTM	-	-	-	-	-	-	-
FCF/Rev 3Y Avg	-	-	-	-	-	-	-

Valuation

	FUFU	ABTC	FIGR	GEMI	GRAN	GSIW	Median
Name	BitFuFu	American.	Figure T.	Gemini S.	Grande	Garden S.
Mkt Cap	0.6	-	-	-	-	-	0.6
P/S	1.5	-	-	-	-	-	1.5
P/EBIT	9.6	-	-	-	-	-	9.6
P/E	11.8	-	-	-	-	-	11.8
P/CFO	-	-	-	-	-	-	-
Total Yield	8.5%	-	-	-	-	-	8.5%
Dividend Yield	0.0%	-	-	-	-	-	0.0%
FCF Yield 3Y Avg	-	-	-	-	-	-	-
D/E	0.1	-	-	-	-	-	0.1
Net D/E	-0.0	-	-	-	-	-	-0.0

Returns

	FUFU	ABTC	FIGR	GEMI	GRAN	GSIW	Median
Name	BitFuFu	American.	Figure T.	Gemini S.	Grande	Garden S.
1M Rtn	-8.5%	-23.6%	11.8%	-27.0%	-6.9%	6.7%	-7.7%
3M Rtn	-5.5%	-	-92.3%	-	-40.9%	41.6%	-23.2%
6M Rtn	4.9%	-	-92.3%	-	250.6%	-62.8%	-28.9%
12M Rtn	-31.8%	-	-92.3%	-	250.6%	-85.4%	-58.6%
3Y Rtn	-	-	-92.3%	-	250.6%	-	79.2%
1M Excs Rtn	-5.3%	-30.1%	5.9%	-25.0%	-11.7%	1.0%	-8.5%
3M Excs Rtn	-7.0%	-	-101.7%	-	-49.6%	31.4%	-28.3%
6M Excs Rtn	-16.8%	-	-114.1%	-	228.9%	-84.5%	-50.7%
12M Excs Rtn	-47.2%	-	-109.5%	-	233.5%	-103.6%	-75.4%
3Y Excs Rtn	-	-	-169.1%	-	173.9%	-	2.4%

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021
Period End	6/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021
Filing Date	8/15/2025	4/21/2025	4/25/2024	3/7/2024	3/31/2023
Key Financials
Total Revenue	383	463	284	198	103
Net Income	48	54	10	2	5
EPS	0.30	0.34	0.06	0.01	0.03
Growth Rates
Total Revenue Growth	-9.6%	63.1%	43.3%	92.3%	-
Net Income Growth	21.0%	414.2%	329.8%	-50.4%	-
Margins
Net Income Margin	12.4%	11.6%	3.7%	1.2%	4.8%
Cash & Debt
Total Cash	40	38	32	62	13
Total Debt	40	35	0	0	0
Net Debt / (Cash)	-0	-3	-32	-62	-13
Cash Flows
Net Cash from Operations	-	-220	-196	-7	16
Free Cash from Operations	-	-237	-241	-22	0
Returns to Shareholders
Dividends	0	-0	-0	-0	-0
Share Repurchases	-0	-0	-0	2	-0

$ Mil \| FY: 12/31	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1
Period End	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023
Filing Date	8/15/2025	6/5/2025	4/21/2025	11/5/2024	9/24/2024	5/20/2024	4/25/2024	11/5/2024	2/8/2024	5/20/2024
Key Financials Quarterly
Total Revenue	115	78	99	90	129	144	89	61	76	58
Net Income	47	-17	22	-5	1	35	5	-3	5	3
EPS	0.29	-0.10	0.14	-0.03	0.01	0.23	0.03	-0.02	0.03	0.02
Key Financials TTM
Total Revenue TTM	383	397	463	453	424	371	284	-	-	-
Net Income TTM	48	2	54	37	39	43	10	-	-	-
Growth Rates Quarterly
Total Revenue Growth	-10.8%	-46.0%	12.0%	47.4%	69.7%	149.1%	-	-	-	-
Net Income Growth	3440.6%	-147.8%	316.3%	-86.1%	-74.1%	1216.0%	-	-	-	-
Margins Quarterly
Net Income Margin	40.8%	-21.6%	22.5%	-5.5%	1.0%	24.4%	6.1%	-4.4%	6.7%	4.6%
Cash & Debt
Total Cash	40	21	38	39	48	87	32	-	44	-
Total Debt	40	40	35	0	0	0	0	0	0	0
Net Debt / (Cash)	-0	19	-3	-39	-48	-87	-32	-	-44	-
Cash Flows Quarterly
FCF from Operations	-	-	-	-	-	-	-	-	-	-
Cash Flows TTM
FCF from Operations TTM	-	-	-	-	-	-	-	-	-	-
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	17.6%	7.7%	-143.9%	-24.0%	483.3%	214.6%	-	-	-	-
Return on Invested Capital (ROIC) TTM
ROIC TTM	-10.7%	-14.1%	-9.3%	22.5%	320.7%	66.7%	-	-	-	-

Price Behavior

Price Behavior

Market Price	$3.43
Market Cap ($ Bil)	0.6
First Trading Date	03/01/2024
Distance from 52W High	-42.7%
	50 Days	200 Days
DMA Price	$3.75	$4.14
DMA Trend	down	down
Distance from DMA	-8.5%	-17.2%
	3M	1YR
Volatility	67.2%	75.6%
Downside Capture	333.70	193.94
Upside Capture	190.83	124.82
Correlation (SPY)	38.8%	27.1%

FUFU Betas & Captures as of 9/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	2.27	2.75	1.98	0.70	1.03	0.88
Up Beta	-0.49	3.21	2.90	0.67	0.69	-1.66
Down Beta	5.69	4.84	4.88	0.72	0.95	1.31
Up Capture	121%	187%	118%	33%	141%	18%
Bmk +ve Days	13	23	35	74	144	420
Stock +ve Days	11	24	36	65	120	179
Down Capture	371%	243%	57%	106%	132%	96%
Bmk -ve Days	8	19	29	52	107	330
Stock -ve Days	9	17	26	58	122	205

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date	10152025
Short Interest: Shares Quantity	297,379
Short Interest: % Change Since 9302025	-3.4%
Average Daily Volume	237,760
Days-to-Cover Short Interest	1.25
Basic Shares Quantity	163,265,449
Short % of Basic Shares	0.2%

Returns Analyses

	Title
0	How Low Can BitFuFu Stock Really Go?

SEC Filings

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Report Date	Filing Date	Filing
6302025	8152025	6-K 6/30/2025
3312025	6052025	6-K 3/31/2025
12312024	4212025	20-F 12/31/2024
9302024	11052024	6-K 9/30/2024
6302024	9242024	6-K 6/30/2024
3312024	5202024	6-K 3/31/2024
12312023	4252024	20-F 12/31/2023
6302023	2082024	424B3 6/30/2023
12312022	3072024	20-F 12/31/2022
12312021	3312023	DRS/A 12/31/2021

Insider Activity

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External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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BitFuFu (FUFU)

Market Price (10/31/2025): $3.425 | Market Cap: $559.2 MilSector: Financials | Industry: Diversified Capital Markets

BitFuFu (FUFU)

Market Price (10/31/2025): $3.425Market Cap: $559.2 MilSector: FinancialsIndustry: Diversified Capital Markets

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Market Price (10/31/2025): $3.425 | Market Cap: $559.2 Mil
Sector: Financials | Industry: Diversified Capital Markets

Market Price (10/31/2025): $3.425
Market Cap: $559.2 Mil
Sector: Financials
Industry: Diversified Capital Markets