Cloud miner BitFuFu says third-quarter sales hit $180.7 million as more users rented hashrate and snapped up rigs to ride Bitcoin’s post-halving price surge.
Singapore-based cloud Bitcoin miner BitFuFu doubled its third-quarter revenue from the previous year, driven by demand for cloud mining and equipment as miners sought to capitalize on the rising price of Bitcoin.
Total revenue increased 100% to $180.7 million compared to the same period last year, with cloud mining making up $122 million, according to BitFuFu’s Q3 earnings report on Wednesday.
The increase was sparked by strong demand for cloud-mining solutions, users buying up mining equipment, and the continued expansion of mining capacity.
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