BitFuFu reported a decline of 357 BTC in its Bitcoin holdings in July, attributed to advance payments for 330 days of future hashrate. Holdings fell to 1,314 BTC by July 31, down from 1,671 BTC the previous month, excluding Bitcoin produced for cloud-mining customers. Total production decreased to 112 BTC from 125 BTC, with average daily output dropping to 3.6 BTC from 4.2 BTC. Managed hashrate also declined to 14.2 EH/s from 15.3 EH/s, with third-party contributions falling to 10.6 EH/s from 11.8 EH/s, while self-owned hashrate increased to 3.6 EH/s from 3.5 EH/s. Management aims to restore total managed hashrate to about 20 EH/s by mid-August, implying a potential increase of 5.8 EH/s or approximately 41%. The July filing did not disclose the cost of the Bitcoin or the supplier involved, leaving uncertainties regarding the economic implications of the capacity purchase. Additionally, 44 BTC were pledged for loans and payables, down from 54 BTC in June, but details on the changes remain undisclosed. Achieving the targeted hashrate by mid-August would indicate adherence to management's timeline, but further details are needed to assess production recovery and economic viability.
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