BitFuFu, a Singapore-based Bitcoin mining firm, has expanded its total cryptocurrency reserves to 1,454 BTC. Data from Bitcoin Treasuries indicates that the Nasdaq-listed enterprise, trading under the ticker FUFU, added 66 BTC to its balance. This brings the company to the 38th position in the Bitcoin 100 ranking.
The accumulation occurred alongside a reduction in mining production. According to the company's operational report, BitFuFu generated 137 BTC in October, down roughly 18 percent from the 167 BTC produced in September. The output decline stemmed primarily from an 11.8 percent increase in Bitcoin mining difficulty during October. Out of the total monthly production, 67 BTC came from self-mining and 70 BTC from cloud mining, while the total managed hashrate held relatively stable at 19.5 exahashes per second compared to September's 19.4 exahashes per second.
The October increase marked the third consecutive month that the mining giant grew its digital asset reserves, reflecting a 4.8 percent month-over-month rise from the 1,388 BTC recorded at the end of September. BitFuFu Chairman and CEO Leo Lu reaffirmed the firm's dedication to expanding its Bitcoin holdings despite the drop in output and wider market conditions.