BitFuFu added 66 BTC to its treasury in October, raising its total Bitcoin holdings to 1,454 BTC as of October 31, the company disclosed in regulatory filings on November 6, 2026. The increase represents a 4.8% gain from the 1,388 BTC held at the end of September.
Production Declines as Difficulty Rises
The Singapore-based miner produced 137 BTC in October, down from 167 BTC in September—an 18% month-over-month decline. Self-mining contributed 67 BTC, while cloud mining contributed 70 BTC.
BitFuFu attributed the drop to an 11.8% increase in Bitcoin network difficulty during October. Average daily production fell to 4.4 BTC, compared with 5.6 BTC in September.
The company’s hashrate under management remained flat at 19.5 EH/s, of which 3.7 EH/s is self-owned.
Treasury Growth Outpaces Mining Output
October’s net treasury increase of 66 BTC came in a month when the company mined 137 BTC, meaning less than half of production ended up as net growth in holdings. CEO Leo Lu noted that holdings fluctuate based on production tempo, occasional sales, and purchases of capacity, while emphasizing the company’s focus on sustainable growth and a stronger asset base.
Year-to-Date Treasury Movement
BitFuFu’s Bitcoin stack has not followed a straight path in 2026. Holdings stood at 1,388 BTC in September, down from a prior peak of 1,855 BTC in May. October’s gain is therefore a recovery step, not a new high.
Founded by Leo Lu in 2020, BitFuFu went public on Nasdaq in March 2024 through a SPAC merger. The company provides cloud-mining services, mines Bitcoin on its own account, and sells mining equipment, while holding Bitcoin as a long-term treasury asset.
Investor Takeaways
The October report offers two contrasting signals. On one hand, growing the treasury by 4.8% during a month when output fell 18% suggests management is prioritizing Bitcoin accumulation. On the other hand, the 11.8% difficulty jump highlights that miners cannot control their production curve, and BitFuFu’s flat 19.5 EH/s hashrate meant it absorbed the full impact.
Cloud mining produced slightly more Bitcoin than self-mining in October—70 BTC versus 67 BTC—underscoring the importance of that side of the business. The gap between production and net treasury growth also bears watching: when less than half of mined Bitcoin remains on the balance sheet, investors will want clarity on how much goes to operating costs, sales, and capacity purchases. Climbing back toward the May benchmark of 1,855 BTC would signal that accumulation is outrunning the drag from difficulty and expenses.
For now, the October takeaway is modest but clear: BitFuFu mined less, kept stacking anyway, and ended the month with 1,454 BTC on its books.
