BitFuFu Hits Record Hashrate of 34.1 EH/s Amid Bitcoin Production Sharp Rise in May
Bitcoin mining company BitFuFu set a new record in May, increasing its hashrate to 34.1 exahash per second (EH/s) and mining 400 BTC, a 91% increase from April.
Most of this volume came from cloud mining clients, who produced 357 BTC, while the remaining 43 BTC were mined by BitFuFu itself. The increase was largely due to the introduction of additional machines deployed in late April. More equipment was added in late May, setting the stage for a possible increase in June.
The hashrate under management has increased by 20.5% compared to April, and now includes 4.2 EH/s of its own hashrate and 29.9 EH/s of hashrate from partners and customers. The fleet has an average efficiency of 19.1 joules per terahash, and its total capacity has reached 651 megawatts, distributed across sites on five continents.
BitFuFu also resumed selling bitcoin in May after a four-month hiatus, selling 178 BTC at an average price of $104,000. The move, timed to coincide with bitcoin's all-time high, helped the company cover its expenses and strengthen its financial position.
The Singapore-based company currently holds 1,709 BTC, down from 1,908 BTC at the end of April. CEO Leo Lu noted that BitFuFu remains focused on long-term Bitcoin investments while maintaining a flexible approach to treasury management.
Source: cryptonews.net
