BitFuFu Burns 357 BTC on Secret Compute Deals as Hashrate Plummets

Woofun AI reports that BitFuFu's Bitcoin holdings contracted by 357 BTC in July, a decline the miner attributes to advance payments for 330 days of future hashrate rather than market sales.

Structurally, total managed hashrate fell to 14.2 EH/s from 15.3 EH/s. Third-party suppliers and hosting customers contributed 10.6 EH/s, down from 11.8 EH/s, while self-owned hashrate rose slightly to 3.6 EH/s from 3.5 EH/s.

Woofun AI data shows this capacity split highlights a reliance on external providers despite the slight uptick in internal production.

Notably, management expects capacity secured in June and July to restore total managed hashrate to about 20 EH/s by mid-August. From the July-end level, that guidance implies a 5.8 EH/s, or roughly 41%, increase if the base otherwise remains unchanged. The July filing does not disclose how much Bitcoin or money BitFuFu committed, identify the supplier, or provide pricing, energy costs, uptime requirements, or cancellation protections. It also does not provide a complete bridge between self-mining additions, sales or transfers, client receipts and advance payments. The 357 BTC decline therefore cannot safely be treated as either an open-market sale or the exact price of the capacity arrangement.

Reaching about 20 EH/s by mid-August would show that the planned capacity arrived on management's timetable. It would not, by itself, establish that production has recovered, that the purchase meets BitFuFu's earlier unit-economics standard or that further reserve use will not be required. Those questions depend on contract details and subsequent operating and treasury disclosures.