Singapore-based miner BitFuFu increased its Bitcoin treasury to 1,454 BTC by the end of October. This represents a 4.8% increase from the 1,388 BTC held at the end of September.
The company mined 137 BTC in October, marking an 18% decline compared to the 167 BTC produced in September. The output was split between 67 BTC from self-mining and 70 BTC from cloud mining.
Management attributed the production drop to an 11.8% increase in Bitcoin network difficulty. The average daily production fell to 4.4 BTC in October from 5.6 BTC in the previous month.
BitFuFu maintained a total hashrate under management of 19.5 EH/s, with 3.7 EH/s attributed to self-owned operations. The company's treasury remains below its May peak of 1,855 BTC.
CEO Leo Lu stated that treasury fluctuations are driven by production rates, equipment purchases, and occasional sales. The company, which trades on Nasdaq under the ticker FUFU, was founded in 2020.
