2023 Q4 Form 20-F Financial Statement
#000121390024036269 Filed on April 25, 2024
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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|
0.03 | |
CY2023 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
150000000 | shares |
CY2022 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
149383562 | shares |
CY2021 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
142500000 | shares |
CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-92166 | usd |
CY2021 | us-gaap |
Net Income Loss
NetIncomeLoss
|
4926243 | usd |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
4834077 | usd |
CY2022 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
1562500 | usd |
CY2022 | us-gaap |
Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
|
2000000 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
2442634 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
6839211 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
10494462 | usd |
CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
17333673 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
10494462 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
2442634 | usd |
CY2021 | us-gaap |
Net Income Loss
NetIncomeLoss
|
4926243 | usd |
CY2021 | us-gaap |
Gain Or Loss On Sale Of Stock In Subsidiary
GainOrLossOnSaleOfStockInSubsidiary
|
-64490 | usd |
CY2023 | fufu |
Net Income Received Or To Be Received By Digital Assets
NetIncomeReceivedOrToBeReceivedByDigitalAssets
|
-183113124 | usd |
CY2022 | fufu |
Net Income Received Or To Be Received By Digital Assets
NetIncomeReceivedOrToBeReceivedByDigitalAssets
|
-100980973 | usd |
CY2021 | fufu |
Net Income Received Or To Be Received By Digital Assets
NetIncomeReceivedOrToBeReceivedByDigitalAssets
|
-3422161 | usd |
CY2023 | fufu |
Impairment Loss On Digital Assets
ImpairmentLossOnDigitalAssets
|
6986921 | usd |
CY2022 | fufu |
Impairment Loss On Digital Assets
ImpairmentLossOnDigitalAssets
|
12948969 | usd |
CY2023 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
99755 | usd |
CY2022 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
608188 | usd |
CY2022 | us-gaap |
Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
|
9826600 | usd |
CY2022 | fufu |
Impairment Loss On Mining Equipment
ImpairmentLossOnMiningEquipment
|
11849595 | usd |
CY2022 | fufu |
Realized Fair Value Gain On Digital Asset Borrowings
RealizedFairValueGainOnDigitalAssetBorrowings
|
4206292 | usd |
CY2023 | fufu |
Realized Gain On Sale Of Digital Assets
RealizedGainOnSaleOfDigitalAssets
|
18231133 | usd |
CY2022 | fufu |
Realized Gain On Sale Of Digital Assets
RealizedGainOnSaleOfDigitalAssets
|
4947841 | usd |
CY2021 | fufu |
Realized Gain On Sale Of Digital Assets
RealizedGainOnSaleOfDigitalAssets
|
369200 | usd |
CY2023 | us-gaap |
Depreciation Nonproduction
DepreciationNonproduction
|
45510 | usd |
CY2022 | us-gaap |
Depreciation Nonproduction
DepreciationNonproduction
|
22304 | usd |
CY2021 | us-gaap |
Depreciation Nonproduction
DepreciationNonproduction
|
2860 | usd |
CY2023 | fufu |
Mining Equipment
MiningEquipment
|
24455274 | usd |
CY2022 | fufu |
Mining Equipment
MiningEquipment
|
18134149 | usd |
CY2023 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
4150705 | usd |
CY2022 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-4471142 | usd |
CY2023 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
654275 | usd |
CY2022 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
481378 | usd |
CY2021 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
-2491784 | usd |
CY2023 | us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
-36933689 | usd |
CY2022 | us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
132799111 | usd |
CY2021 | us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
-75275000 | usd |
CY2023 | us-gaap |
Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
|
-2682520 | usd |
CY2023 | us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
1512315 | usd |
CY2022 | us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
2368589 | usd |
CY2021 | us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
148100 | usd |
CY2023 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
775106 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
25214 | usd |
CY2022 | us-gaap |
Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
|
75275000 | usd |
CY2021 | us-gaap |
Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
|
-75275000 | usd |
CY2022 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
-8075000 | usd |
CY2021 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
10947311 | usd |
CY2023 | us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
-2893475 | usd |
CY2022 | us-gaap |
Increase Decrease In Accrued Income Taxes Payable
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
RepaymentsOfLongTermDebt
|
6999939 | usd |
CY2023Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
102435202 | usd |
CY2022Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
109435141 | usd |
CY2022Q3 | us-gaap |
Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
|
0.15 | pure |
CY2022Q3 | fufu |
Excise Tax Percentage
ExciseTaxPercentage
|
0.01 | pure |
CY2023 | us-gaap |
Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
|
-1967421 | usd |
CY2022 | us-gaap |
Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
|
3805213 | usd |
CY2021 | us-gaap |
Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
|
1043451 | usd |
CY2023 | us-gaap |
Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
|
-1967421 | usd |
CY2022 | us-gaap |
Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
|
3805213 | usd |
CY2021 | us-gaap |
Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
|
1043451 | usd |
CY2023 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
-991250 | usd |
CY2022 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
-2420618 | usd |
CY2023 | us-gaap |
Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
|
-236011 | usd |
CY2022 | us-gaap |
Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
|
-576338 | usd |
CY2023 | us-gaap |
Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
|
5377966 | usd |
CY2022 | us-gaap |
Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
|
-1474186 | usd |
CY2023 | us-gaap |
Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
|
4150705 | usd |
CY2022 | us-gaap |
Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
|
-4471142 | usd |
CY2023 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
2183284 | usd |
CY2022 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-665929 | usd |
CY2021 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
1043451 | usd |
CY2023 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.1722 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.3748 | pure |
CY2021 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.1748 | pure |
CY2023 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-991250 | usd |
CY2022 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-2420618 | usd |
CY2023 | us-gaap |
Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
|
-236011 | usd |
CY2022 | us-gaap |
Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
|
-576338 | usd |
CY2023 | us-gaap |
Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
|
3494884 | usd |
CY2022 | us-gaap |
Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
|
2331027 | usd |
CY2021 | us-gaap |
Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
|
1043451 | usd |
CY2023 | us-gaap |
Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
|
-84339 | usd |
CY2023 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
2183284 | usd |
CY2022 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-665929 | usd |
CY2021 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
1043451 | usd |
CY2023Q4 | fufu |
Deferred Tax Assets Impairment Loss On Digital Assets
DeferredTaxAssetsImpairmentLossOnDigitalAssets
|
209966 | usd |
CY2022Q4 | fufu |
Deferred Tax Assets Impairment Loss On Digital Assets
DeferredTaxAssetsImpairmentLossOnDigitalAssets
|
107635 | usd |
CY2023Q4 | fufu |
Deferred Tax Assets Impairment Loss On Mining Equipment
DeferredTaxAssetsImpairmentLossOnMiningEquipment
|
3080895 | usd |
CY2022Q4 | fufu |
Deferred Tax Assets Impairment Loss On Mining Equipment
DeferredTaxAssetsImpairmentLossOnMiningEquipment
|
3080895 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
6319614 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
1555942 | usd |
CY2023Q4 | fufu |
Deferred Tax Assets Credit Loss Provision For Receivables
DeferredTaxAssetsCreditLossProvisionForReceivables
|
81120 | usd |
CY2022Q4 | fufu |
Deferred Tax Assets Credit Loss Provision For Receivables
DeferredTaxAssetsCreditLossProvisionForReceivables
|
131472 | usd |
CY2023Q4 | fufu |
Deferred Tax Assets Impairment Loss On Assets Held By Ftx
DeferredTaxAssetsImpairmentLossOnAssetsHeldByFTX
|
1356130 | usd |
CY2022Q4 | fufu |
Deferred Tax Assets Impairment Loss On Assets Held By Ftx
DeferredTaxAssetsImpairmentLossOnAssetsHeldByFTX
|
1316199 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Other
DeferredTaxAssetsTaxDeferredExpenseOther
|
2087147 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Other
DeferredTaxAssetsTaxDeferredExpenseOther
|
647893 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
13134872 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
6840036 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
|
5469875 | usd |
CY2023Q4 | fufu |
Deferred Tax Liabilities Depreciation Of Equipment
DeferredTaxLiabilitiesDepreciationOfEquipment
|
7344560 | usd |
CY2022Q4 | fufu |
Deferred Tax Liabilities Depreciation Of Equipment
DeferredTaxLiabilitiesDepreciationOfEquipment
|
2368894 | usd |
CY2023Q4 | us-gaap |
Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
|
12814435 | usd |
CY2022Q4 | us-gaap |
Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
|
2368894 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
320437 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
4471142 | usd |
CY2023Q4 | fufu |
Deferred Tax Assets Liabilitie Net
DeferredTaxAssetsLiabilitieNet
|
320437 | usd |
CY2022Q4 | fufu |
Deferred Tax Assets Liabilitie Net
DeferredTaxAssetsLiabilitieNet
|
4471142 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards Foreign
DeferredTaxAssetsOperatingLossCarryforwardsForeign
|
19630000 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
|
4670000 | usd |
CY2017Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards Foreign
DeferredTaxAssetsOperatingLossCarryforwardsForeign
|
19630000 | usd |
CY2017Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
|
4670000 | usd |
CY2017Q4 | fufu |
Utilization Of Taxable Income
UtilizationOfTaxableIncome
|
0.80 | pure |
CY2023Q4 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
1540233 | usd |
CY2022Q4 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
1467838 | usd |
CY2023Q4 | us-gaap |
Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
|
2731168 | usd |
CY2022Q4 | us-gaap |
Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
|
857296 | usd |
CY2023Q4 | us-gaap |
Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
|
1096397 | usd |
CY2022Q4 | us-gaap |
Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
|
966485 | usd |
CY2023Q4 | us-gaap |
Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
|
5367798 | usd |
CY2022Q4 | us-gaap |
Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
|
3291619 | usd |
CY2023Q4 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
5540000 | usd |
CY2022Q4 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
2520000 | usd |
CY2023 | us-gaap |
Revenues
Revenues
|
284106012 | usd |
CY2022 | us-gaap |
Revenues
Revenues
|
198198774 | usd |
CY2021 | us-gaap |
Revenues
Revenues
|
103043585 | usd |
CY2023 | us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
183908345 | usd |
CY2023 | fufu |
Percentageof Revenue Generated
PercentageofRevenueGenerated
|
1 | pure |
CY2022 | us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
137908151 | usd |
CY2022 | fufu |
Percentageof Revenue Generated
PercentageofRevenueGenerated
|
1 | pure |
CY2021 | us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
103043585 | usd |
CY2021 | fufu |
Percentageof Revenue Generated
PercentageofRevenueGenerated
|
1 | pure |
CY2023 | us-gaap |
Revenues
Revenues
|
284106012 | usd |
CY2022 | us-gaap |
Revenues
Revenues
|
198198774 | usd |
CY2021 | us-gaap |
Revenues
Revenues
|
103043585 | usd |
CY2023Q4 | fufu |
Common Stock Authorized Share Capital
CommonStockAuthorizedShareCapital
|
50000 | usd |
CY2023 | us-gaap |
Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
|
1 | shares |
CY2022Q1 | fufu |
Share Purchased
SharePurchased
|
128206 | shares |
CY2022Q1 | fufu |
Purchase Price
PurchasePrice
|
1250000 | usd |
CY2022Q4 | fufu |
Share Purchased
SharePurchased
|
76142 | shares |
CY2022Q4 | fufu |
Purchase Price
PurchasePrice
|
750000 | usd |
CY2023 | us-gaap |
Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
|
166540000 | usd |
CY2022 | us-gaap |
Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
|
83880000 | usd |
CY2023Q4 | fufu |
Percentage Of Impairment Loss
PercentageOfImpairmentLoss
|
1 | pure |
CY2022Q4 | us-gaap |
Deposits Assets Noncurrent
DepositsAssetsNoncurrent
|
usd | |
CY2022Q4 | us-gaap |
Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
|
usd | |
CY2023Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
usd | |
CY2022Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
usd | |
CY2021 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
usd | |
CY2023 | us-gaap |
Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
|
usd | |
CY2021 | us-gaap |
Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
|
usd | |
CY2021 | fufu |
Impairment Loss On Digital Assets
ImpairmentLossOnDigitalAssets
|
usd | |
CY2023 | fufu |
Impairment Loss On Mining Equipment
ImpairmentLossOnMiningEquipment
|
usd | |
CY2021 | fufu |
Impairment Loss On Mining Equipment
ImpairmentLossOnMiningEquipment
|
usd | |
CY2023 | us-gaap |
Gain Or Loss On Sale Of Stock In Subsidiary
GainOrLossOnSaleOfStockInSubsidiary
|
usd | |
CY2022 | us-gaap |
Gain Or Loss On Sale Of Stock In Subsidiary
GainOrLossOnSaleOfStockInSubsidiary
|
usd | |
CY2023 | fufu |
Realized Fair Value Gain On Digital Asset Borrowings
RealizedFairValueGainOnDigitalAssetBorrowings
|
usd | |
CY2021 | fufu |
Realized Fair Value Gain On Digital Asset Borrowings
RealizedFairValueGainOnDigitalAssetBorrowings
|
usd | |
CY2021 | us-gaap |
Interest Expense
InterestExpense
|
usd | |
CY2022 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.02 | |
CY2021 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.03 | |
CY2023 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.07 | |
CY2021 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
142500000 | shares |
CY2022 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
149383562 | shares |
CY2023 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
150000000 | shares |
CY2023 | us-gaap |
Gain Or Loss On Sale Of Stock In Subsidiary
GainOrLossOnSaleOfStockInSubsidiary
|
usd | |
CY2022 | us-gaap |
Gain Or Loss On Sale Of Stock In Subsidiary
GainOrLossOnSaleOfStockInSubsidiary
|
usd | |
CY2021 | fufu |
Impairment Loss On Digital Assets
ImpairmentLossOnDigitalAssets
|
usd | |
CY2021 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
usd | |
CY2023 | us-gaap |
Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
|
usd | |
CY2021 | us-gaap |
Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
|
usd | |
CY2023 | fufu |
Impairment Loss On Mining Equipment
ImpairmentLossOnMiningEquipment
|
usd | |
CY2021 | fufu |
Impairment Loss On Mining Equipment
ImpairmentLossOnMiningEquipment
|
usd | |
CY2023 | fufu |
Realized Fair Value Gain On Digital Asset Borrowings
RealizedFairValueGainOnDigitalAssetBorrowings
|
usd | |
CY2021 | fufu |
Realized Fair Value Gain On Digital Asset Borrowings
RealizedFairValueGainOnDigitalAssetBorrowings
|
usd | |
CY2021 | fufu |
Mining Equipment
MiningEquipment
|
usd | |
CY2021 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
usd | |
CY2022 | us-gaap |
Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
|
usd | |
CY2021 | us-gaap |
Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
|
usd | |
CY2021 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
usd | |
CY2023 | us-gaap |
Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
|
usd | |
CY2023 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
usd | |
CY2023 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
usd | |
CY2021 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
usd | |
CY2022 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
usd | |
CY2021 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
usd | |
CY2021 | us-gaap |
Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
|
usd | |
CY2023 | us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
usd | |
CY2021 | us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
usd | |
CY2021 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
usd | |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
usd | |
CY2021 | us-gaap |
Interest Paid Net
InterestPaidNet
|
usd | |
CY2023 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
usd | |
CY2021 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
usd | |
CY2023 | fufu |
Purchases Of Equipment Included In Longterm Payable
PurchasesOfEquipmentIncludedInLongtermPayable
|
usd | |
CY2021 | fufu |
Purchases Of Equipment Included In Longterm Payable
PurchasesOfEquipmentIncludedInLongtermPayable
|
usd | |
CY2021 | us-gaap |
Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
|
usd | |
CY2021Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
usd | |
CY2023 | us-gaap |
Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
|
usd | |
CY2021Q4 | us-gaap |
Notes Receivable Net
NotesReceivableNet
|
usd | |
CY2021Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
usd | |
CY2023 | fufu |
Long Term Debt Addition
LongTermDebtAddition
|
usd | |
CY2022 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
usd | |
CY2023 | us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
usd | |
CY2022 | us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
usd | |
CY2021 | us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
usd | |
CY2023 | us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
usd | |
CY2022 | us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
usd | |
CY2021 | us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
usd | |
CY2021 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
usd | |
CY2021 | us-gaap |
Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
|
usd | |
CY2021 | us-gaap |
Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
|
usd | |
CY2021 | us-gaap |
Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
|
usd | |
CY2021 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
usd | |
CY2021 | us-gaap |
Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
|
usd | |
CY2022 | us-gaap |
Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
|
usd | |
CY2021 | us-gaap |
Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
|
usd | |
CY2022Q4 | us-gaap |
Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
|
usd | |
CY2023Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
usd | |
CY2022Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
usd | |
CY2023Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
usd | |
CY2022Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
usd | |
CY2021Q4 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
usd | |
CY2023 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2023 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
FY | |
CY2023 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001921158 |