BitFuFu announces November production, mining operations update
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 06 2024
0mins
Production and Mining Updates: BitFuFu reported that as of November 30, it held 1,643 BTC and produced 84 BTC from self-mining operations in November. The company expanded its mining fleet by acquiring 13,300 new miners, increasing its total capacity to 2.4 EH/s.
Future Plans and Capacity Goals: Starting December, BitFuFu will provide monthly updates to investors and the public, aiming to add 1 GW of power capacity by the end of 2026 while currently evaluating potential projects totaling approximately 700 MW.
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Analyst Views on FUFU
Wall Street analysts forecast FUFU stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FUFU is 6.17 USD with a low forecast of 5.50 USD and a high forecast of 7.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
2 Buy
1 Hold
0 Sell
Moderate Buy
Current: 2.860
Low
5.50
Averages
6.17
High
7.00
Current: 2.860
Low
5.50
Averages
6.17
High
7.00
About FUFU
BitFuFu Inc. is a provider of digital asset mining and cloud-mining services. The Company offers a variety of digital asset mining solutions, including one-stop cloud-mining services, and miner hosting services to institutional customers and individual digital asset enthusiasts. The Company operates through four segments: cloud mining solutions, self-mining operations, mining equipment sales and other. The Company’s proprietary Aladdin system handles ultra-large-scale management and dispatching of hash calculations and has the maximum capacity to simultaneously connect millions of miners and to provide services that resolve critical mining problems. It offers the Bitcoin network solutions through its cloud mining platform, scaling infrastructure, and mining services. The Company has a wholly owned subsidiary, namely Finfront Holding Company.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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