2023 Q4 Form 20-F Financial Statement

#000121390024036269 Filed on April 25, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023 2022 Q4
Revenue $0.00 $284.1M $0.00
YoY Change 43.34%
Cost Of Revenue $271.4M
YoY Change 67.56%
Gross Profit $12.71M
YoY Change -64.91%
Gross Profit Margin 4.47%
Selling, General & Admin $221.0K $5.545M $200.0K
YoY Change 10.52% 18.29% 300.0%
% of Gross Profit 43.62%
Research & Development $1.741M
YoY Change 11.3%
% of Gross Profit 13.7%
Depreciation & Amortization $24.50M
YoY Change 34.91%
% of Gross Profit 192.72%
Operating Expenses $221.0K -$3.859M $200.0K
YoY Change 10.52% -111.93% 100.0%
Operating Profit $16.57M
YoY Change 324.8%
Interest Expense $394.7K $5.536M $490.0K
YoY Change -19.46% 119.92%
% of Operating Profit 33.4%
Other Income/Expense, Net $587.0K
YoY Change 1081.86%
Pretax Income $173.6K $12.68M $290.0K
YoY Change -40.13% 613.55% -390.0%
Income Tax $85.64K $2.183M $100.0K
% Of Pretax Income 49.33% 17.22% 34.48%
Net Earnings $87.98K $10.49M $190.0K
YoY Change -53.69% 329.64% -290.0%
Net Earnings / Revenue 3.69%
Basic Earnings Per Share $0.07
Diluted Earnings Per Share $0.02 $0.07 $0.02
COMMON SHARES
Basic Shares Outstanding 150.0M shares
Diluted Shares Outstanding 150.0M shares

Balance Sheet

Concept 2023 Q4 2023 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $230.8K $215.1K $170.0K
YoY Change 35.76% 26.51% -66.67%
Cash & Equivalents $32.00M $60.43M
Short-Term Investments
Other Short-Term Assets $1.843M $21.90K $300.8K
YoY Change 512.83% 9.5% 234.2%
Inventory
Prepaid Expenses $39.57M $12.52M
Receivables $3.838M $6.270M
Other Receivables
Total Short-Term Assets $121.3M $237.0K $87.57M
YoY Change 38.48% 24.72% 14256.27%
LONG-TERM ASSETS
Property, Plant & Equipment $81.86M $106.3M
YoY Change -22.99%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $34.89M $34.11M
YoY Change -50.78%
Other Assets $70.46M
YoY Change
Total Long-Term Assets $88.76M $34.11M $110.8M
YoY Change -19.86% -50.78% 60.52%
TOTAL ASSETS
Total Short-Term Assets $121.3M $237.0K $87.57M
Total Long-Term Assets $88.76M $34.11M $110.8M
Total Assets $210.0M $34.34M $198.3M
YoY Change 5.9% -50.57% 184.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $806.0K $324.9K $38.12K
YoY Change 2014.15% 224.85%
Accrued Expenses $496.9K $463.2K $60.00K
YoY Change 728.17% 826.32% -14.29%
Deferred Revenue $47.72M $6.443M
YoY Change 640.73%
Short-Term Debt $2.830M $2.380M $740.0K
YoY Change 282.43%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $86.36M $3.330M $82.06M
YoY Change 5.24% 1565.2% 117130.01%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.588M $2.588M $2.590M
YoY Change -0.1% -0.1% 0.0%
Total Long-Term Liabilities $106.3M $2.588M $109.4M
YoY Change -2.83% -0.1% 4125.3%
TOTAL LIABILITIES
Total Short-Term Liabilities $86.36M $3.330M $82.06M
Total Long-Term Liabilities $106.3M $2.588M $109.4M
Total Liabilities $192.7M $5.918M $191.5M
YoY Change 0.63% 112.11% 7126.27%
SHAREHOLDERS EQUITY
Retained Earnings $17.77M $7.277M
YoY Change 144.22%
Common Stock $1.563M $1.563M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.000M $2.000M
YoY Change 0.0%
Treasury Stock Shares
Shareholders Equity $17.33M $28.43M $6.839M
YoY Change
Total Liabilities & Shareholders Equity $210.0M $34.34M $198.3M
YoY Change 5.9% -50.57% 184.92%

Cashflow Statement

Concept 2023 Q4 2023 2022 Q4
OPERATING ACTIVITIES
Net Income $87.98K $10.49M $190.0K
YoY Change -53.69% 329.64% -290.0%
Depreciation, Depletion And Amortization $24.50M
YoY Change 34.91%
Cash From Operating Activities -$74.27K -$196.0M -$60.00K
YoY Change 23.78% 2532.59% -60.0%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$360.0K $37.70M -$690.0K
YoY Change -47.83% -154.63% -99.0%
Cash From Investing Activities -$360.0K $176.9M -$690.0K
YoY Change -47.83% 212.13% -99.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net $7.000M
YoY Change
Cash From Financing Activities 450.0K -$9.352M 740.0K
YoY Change -39.19% 342.92% -98.94%
NET CHANGE
Cash From Operating Activities -74.27K -$196.0M -60.00K
Cash From Investing Activities -360.0K $176.9M -690.0K
Cash From Financing Activities 450.0K -$9.352M 740.0K
Net Change In Cash 15.73K -$28.43M -10.00K
YoY Change -257.3% -160.33% -102.33%
FREE CASH FLOW
Cash From Operating Activities -$74.27K -$196.0M -$60.00K
Capital Expenditures
Free Cash Flow
YoY Change

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IncreaseDecreaseInAccruedIncomeTaxesPayable
4092819 usd
CY2021 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
1033384 usd
CY2023 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
3042608 usd
CY2022 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
612623 usd
CY2021 us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
399931 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-195970190 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7444009 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
15926542 usd
CY2023 fufu Proceeds From Sales Of Digital Assets
ProceedsFromSalesOfDigitalAssets
222393176 usd
CY2022 fufu Proceeds From Sales Of Digital Assets
ProceedsFromSalesOfDigitalAssets
71354362 usd
CY2021 fufu Proceeds From Sales Of Digital Assets
ProceedsFromSalesOfDigitalAssets
13131775 usd
CY2023 fufu Payments To Acquire Digital Assets
PaymentsToAcquireDigitalAssets
45429698 usd
CY2022 fufu Payments To Acquire Digital Assets
PaymentsToAcquireDigitalAssets
10824901 usd
CY2021 fufu Payments To Acquire Digital Assets
PaymentsToAcquireDigitalAssets
15692035 usd
CY2023 us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
66736 usd
CY2022 us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
3855215 usd
CY2021 us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
54196 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
176896742 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
56674246 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2614456 usd
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1562500 usd
CY2023 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
6999939 usd
CY2023 us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
2352404 usd
CY2022 us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
1674037 usd
CY2022 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2000000 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-9352343 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2111537 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-28425791 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
47118700 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
13312086 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
60430786 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13312086 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
32004995 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
60430786 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13312086 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
3661723 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
1634599 usd
CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
783934 usd
CY2023 fufu Net Digital Assets Used In Provided By Operating Activities
NetDigitalAssetsUsedInProvidedByOperatingActivities
212931394 usd
CY2022 fufu Net Digital Assets Used In Provided By Operating Activities
NetDigitalAssetsUsedInProvidedByOperatingActivities
86109208 usd
CY2021 fufu Net Digital Assets Used In Provided By Operating Activities
NetDigitalAssetsUsedInProvidedByOperatingActivities
444418 usd
CY2023 fufu Net Digital Assetsused Inprovided By Investing Activities
NetDigitalAssetsusedInprovidedByInvestingActivities
-176963478 usd
CY2022 fufu Net Digital Assetsused Inprovided By Investing Activities
NetDigitalAssetsusedInprovidedByInvestingActivities
-82025494 usd
CY2021 fufu Net Digital Assetsused Inprovided By Investing Activities
NetDigitalAssetsusedInprovidedByInvestingActivities
2195559 usd
CY2022 fufu Purchases Of Equipment Included In Longterm Payable
PurchasesOfEquipmentIncludedInLongtermPayable
109435141 usd
CY2023 us-gaap Nature Of Operations
NatureOfOperations
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in; text-align: left"><b>1.</b></td><td style="text-align: justify"><b>ORGANIZATION</b></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Bitfufu Inc. (“BitFuFu” together with its consolidated subsidiaries, the “Company”) was incorporated in the Cayman Islands on February 16, 2022 under the Cayman Islands Companies Law as an exempted company.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify">Finfront Holding Company (’‘Finfront’’) was incorporated in the Cayman Islands on July 22, 2021 under the Cayman Islands Companies Law as an exempted company with limited liability. Ethereal Tech Pte. Ltd. (“Ethereal Singapore”) was incorporated in Singapore on May 8, 2018 and was acquired by Finfront in October 2021 and became a wholly-owned subsidiary of Finfront in connection with a corporate reorganization. Ethereal Tech US Corporation (“Ethereal US”) was incorporated in the State of Delaware on December 15, 2021 as a wholly-owned subsidiary of Finfront. Lonshi Tech Canada Limited was incorporated on November 22, 2022 as a wholly-owned subsidiary of Ethereal Singapore.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify">The Company operates under the trade name of “BitFuFu”. The Company is a fast-growing digital asset mining service and cloud-mining service provider, dedicated to fostering a secure, compliant, and transparent blockchain infrastructure. The Company also provides a variety of stable and intelligent digital asset mining solutions, including one-stop cloud-mining services and miner hosting services to institutional customers and individual digital asset enthusiasts. The Company maintains a fleet of advanced Bitcoin miners for efficient cloud-mining on behalf of its customers and self-mining for its own account, allowing it to seamlessly adjust business strategies and reduce risk exposure.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18.2pt">As of the date of this report, the details of the Company’s principal subsidiaries are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid; text-indent: -0.125in; padding-left: 0.125in; width: 20%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Entity</b></span></td> <td style="width: 1%"> </td> <td style="border-bottom: black 1.5pt solid; width: 14%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Date of incorporation/<br/> acquisition</b></span></td> <td style="width: 1%"> </td> <td style="border-bottom: black 1.5pt solid; width: 13%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Place of<br/> incorporation</b></span></td> <td style="width: 1%"> </td> <td style="border-bottom: black 1.5pt solid; width: 15%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Percentage of direct or indirect ownership by the Company</b></span></td> <td style="width: 1%"> </td> <td style="border-bottom: black 1.5pt solid; width: 34%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Principal activities</b></span></td></tr> <tr style="vertical-align: top"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"> </td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td> </td> <td style="text-align: justify"> </td> <td> </td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Direct</span></td> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration:underline">Subsidiaries:</span></span></td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td> </td> <td style="text-align: justify"> </td> <td> </td> <td style="text-align: center"> </td> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Finfront Holding Company (“Finfront”) </span></td> <td> </td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">July 22, 2021</span></td> <td> </td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cayman Islands</span></td> <td> </td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%</span></td> <td> </td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment holding</span></td></tr> <tr style="vertical-align: top; "> <td style="text-indent: -0.125in; padding-left: 0.125in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ethereal Tech Pte. Ltd. (“Ethereal Singapore”)</span></td> <td> </td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">October 22, 2021</span></td> <td> </td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Singapore</span></td> <td> </td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%</span></td> <td> </td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provision of cloud mining services, miner hosting services, mining equipment sales and lease and sourcing services for mining equipment sales</span></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ethereal Tech US Corporation (“Ethereal US”)</span></td> <td> </td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 15, 2021</span></td> <td> </td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">United States</span></td> <td> </td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%</span></td> <td> </td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provision of self-mining activities</span></td></tr> <tr style="vertical-align: top; "> <td style="text-indent: -0.125in; padding-left: 0.125in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lonshi Tech Canada Limited (“Lonshi”)</span></td> <td> </td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">November 22, 2022</span></td> <td> </td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Canada</span></td> <td> </td> <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">100%</span></td> <td> </td> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dormant</span></td></tr> </table>
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><b><i>Use of estimates </i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify">The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, related disclosures of contingent assets and liabilities at the balance sheet date, and the reported revenue and expenses during the reported period in the consolidated financial statements and accompanying notes. Significant accounting estimates reflected in the Company’s consolidated financial statements mainly include, but are not limited to, standalone selling price of each distinct performance obligation in revenue recognition, determining the useful lives and recoverability of long-lived assets. Actual results could differ from those estimates.</p>
CY2023Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
32 usd
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
60.4 usd
CY2023 fufu Ecl Allowances
ECLAllowances
312000 usd
CY2022 fufu Ecl Allowances
ECLAllowances
608000 usd
CY2022 us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
11850000 usd
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><b><i>Concentration of credit risk</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.3pt 0pt 18.2pt; text-align: justify">Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents, digital assets, and accounts receivable. The Company places cash and cash equivalents with financial institutions with high credit ratings and quality. From time to time, the Company’s cash account balances exceed the balances covered by the Federal Deposit Insurance Corporation (“FDIC”) in the US, or the Singapore Deposit Insurance Corporation Limited (SDIC) in Singapore. The Company has never suffered a loss due to such excess balances. The Company conducts credit evaluations of customers, and generally does not require collateral or other security from its customers. The Company establishes an allowance for expected credit losses primarily based upon various factors surrounding the credit risk of specific customers and general economic conditions, to refer to the current expected credit loss policy.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.3pt 0pt 18.2pt; text-align: justify">The Company held its own digital assets of approximately US$43.98 million and US$8.01 million as of December 31, 2023, and 2022 respectively.</p>
CY2023 fufu Digital Asset Current
DigitalAssetCurrent
43980000 usd
CY2022Q4 fufu Digital Assets Current
DigitalAssetsCurrent
8010000.00 usd
CY2023 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
6990000 usd
CY2022 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
12950000 usd
CY2023Q4 fufu Digital Assets Current
DigitalAssetsCurrent
43978454 usd
CY2022Q4 fufu Digital Assets Current
DigitalAssetsCurrent
8010538 usd
CY2021Q4 fufu Digital Assets Current
DigitalAssetsCurrent
3926824 usd
CY2022 fufu Digital Assets Received From Customers For Products And Services
DigitalAssetsReceivedFromCustomersForProductsAndServices
121725277 usd
CY2022 fufu Revenue Generated From Bitcoin Self Mining Operation
RevenueGeneratedFromBitcoinSelfMiningOperation
60290623 usd
CY2022 fufu Converted To From Other Digital Assets Or Fiat Cash Net
ConvertedToFromOtherDigitalAssetsOrFiatCashNet
-60529461 usd
CY2022 fufu Costs And Expenses Paid In Digital Assets
CostsAndExpensesPaidInDigitalAssets
-84369508 usd
CY2022 fufu Purchase Of Mining Equipment
PurchaseOfMiningEquipment
-21496033 usd
CY2022 fufu Net Gain On Settlement Of Digital Asset Borrowings
NetGainOnSettlementOfDigitalAssetBorrowings
4206292 usd
CY2022 fufu Digital Assets Due From Ftx
DigitalAssetsDueFromFTX
-7742348 usd
CY2022 fufu Impairment On Bitcoins
ImpairmentOnBitcoins
-12948969 usd
CY2022 fufu Realized Gain On Saleexchange Of Bitcoins
RealizedGainOnSaleexchangeOfBitcoins
4947841 usd
CY2022Q4 fufu Digital Assets Current
DigitalAssetsCurrent
8010538 usd
CY2022Q4 fufu Digital Assets Current
DigitalAssetsCurrent
8010538 usd
CY2023 fufu Digital Assets Received From Customers For Products And Services
DigitalAssetsReceivedFromCustomersForProductsAndServices
227621486 usd
CY2023 fufu Revenue Generated From Bitcoin Self Mining Operation
RevenueGeneratedFromBitcoinSelfMiningOperation
100197667 usd
CY2023 fufu Other Income Received In Bitcoin
OtherIncomeReceivedInBitcoin
378491 usd
CY2023 fufu Converted To From Other Digital Assets Or Fiat Cash Net
ConvertedToFromOtherDigitalAssetsOrFiatCashNet
-176963478 usd
CY2023 fufu Costs And Expenses Paid In Digital Assets
CostsAndExpensesPaidInDigitalAssets
-126510462 usd
CY2023 fufu Impairment On Bitcoins
ImpairmentOnBitcoins
-6986921 usd
CY2023 fufu Realized Gain On Saleexchange Of Bitcoins
RealizedGainOnSaleexchangeOfBitcoins
18231133 usd
CY2023Q4 fufu Digital Assets Current
DigitalAssetsCurrent
43978454 usd
CY2023Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
4150433 usd
CY2022Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
6878035 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
312000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
608188 usd
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
3838433 usd
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
6269847 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
608188 usd
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
608188 usd
CY2023 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
296188 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
312000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
608188 usd
CY2023Q4 us-gaap Supplies
Supplies
33971702 usd
CY2022Q4 us-gaap Supplies
Supplies
9309322 usd
CY2023Q4 fufu Prepaid Offering Costs
PrepaidOfferingCosts
2696441 usd
CY2022Q4 fufu Prepaid Offering Costs
PrepaidOfferingCosts
2434037 usd
CY2023Q4 fufu Advances For Extension Fee
AdvancesForExtensionFee
2830000 usd
CY2022Q4 fufu Advances For Extension Fee
AdvancesForExtensionFee
740000 usd
CY2023Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
67978 usd
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
40630 usd
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
39566121 usd
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
12523989 usd
CY2023Q4 fufu Custodian Assets Held By Ftx
CustodianAssetsHeldByFTX
9826600 usd
CY2022Q4 fufu Custodian Assets Held By Ftx
CustodianAssetsHeldByFTX
9826600 usd
CY2023Q4 us-gaap Deposit Assets
DepositAssets
1879821 usd
CY2022Q4 us-gaap Deposit Assets
DepositAssets
184390 usd
CY2023Q4 us-gaap Interest Receivable Current
InterestReceivableCurrent
57695 usd
CY2022Q4 us-gaap Interest Receivable Current
InterestReceivableCurrent
81095 usd
CY2023Q4 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
5505 usd
CY2022Q4 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
35292 usd
CY2023Q4 us-gaap Other Assets
OtherAssets
11769621 usd
CY2022Q4 us-gaap Other Assets
OtherAssets
10127377 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
9926355 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
9826600 usd
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
1843266 usd
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
300777 usd
CY2022Q4 us-gaap Notes Receivable Net
NotesReceivableNet
9826600 usd
CY2023 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
99755 usd
CY2022 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
9826600 usd
CY2023Q4 us-gaap Notes Receivable Net
NotesReceivableNet
9926355 usd
CY2022Q4 us-gaap Notes Receivable Net
NotesReceivableNet
9826600 usd
CY2023Q4 us-gaap Cash
Cash
2090000.00 usd
CY2022 fufu Carrying Value Of Bitcoin
CarryingValueOfBitcoin
480 bitcoin
CY2022Q4 us-gaap Other Cash Equivalents At Carrying Value
OtherCashEquivalentsAtCarryingValue
7740000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
136366607 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
136299871 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
42660097 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
18159313 usd
CY2023Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
11849595 usd
CY2022Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
11849595 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
81856915 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
106290963 usd
CY2023 us-gaap Depreciation
Depreciation
24500000 usd
CY2022 us-gaap Depreciation
Depreciation
18160000 usd
CY2021 us-gaap Depreciation
Depreciation
2860000000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
109435141 usd
CY2022 fufu Long Term Debt Addition
LongTermDebtAddition
109435141 usd
CY2023 us-gaap Repayments Of Long Term Debt
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