Cloud Mining Statistics 2026: Revenue, Users and Scams

BitFuFu earned $350.6 million from Cloud Mining Solutions in 2025, up 29.4% from 2024. The same business brought in $24.9 million in the second quarter of 2026, a 73.6% decrease from $94.3 million a year earlier. Those cloud mining statistics come from BitFuFu’s SEC filings, and they show how quickly demand turns with the Bitcoin (BTC) price.

Bitdeer’s cloud hash rate revenue fell 94.7% to $2.1 million in 2025 as it moved nearly all hash rate to self-mining. On the fraud side, HashFlare sales totaled more than $577 million between 2015 and 2019, according to the Department of Justice (DOJ). The figures below cover revenue, users, hashrate and Bitcoin produced for customers, then the enforcement record.

Key Takeaways

• BitFuFu’s Cloud Mining Solutions revenue rose 29.4% to $350.6 million in 2025, then fell 73.6% year over year to $24.9 million in Q2 2026, from $94.3 million in Q2 2025.
• BitFuFu’s net dollar retention rate for cloud mining was 24.1% for Q2 2026, reflecting reduced order volumes from existing customers, against 100% for 2025.
• Bitdeer’s cloud hash rate revenue fell 94.7% to $2.1 million in 2025 as long-term contracts expired.
• BitFuFu produced 167 BTC in September 2026, including 69 BTC from cloud mining and 98 BTC from self-mining.
• The SEC alleges Mining Automatic raised approximately $22 million from more than 380 investors and spent only about 13% of investors’ funds on mining.
• Arkbit’s Novice plan promised 1.6% a day for 120 days, which adds up to 192% of the deposit.

Editor’s Choice

• BitFuFu cloud mining revenue: $350.6 million in 2025, 73.7% of total revenue.
• Registered cloud mining users: 675,765 at BitFuFu as of December 31, 2025.
• Bitcoin produced by cloud mining customers: 3,051 BTC at BitFuFu in 2025.
• BitFuFu hashrate under management, in exahashes per second (EH/s): 19.4 EH/s in September 2026.
• HashFlare contract sales: more than $577 million between 2015 and 2019.
• Losses in cryptocurrency complaints reported to the FBI: $11.366 billion in 2025.

Cloud Mining Statistics: Revenue at Public Providers

• BitFuFu’s Cloud Mining Solutions revenue rose 29.4% to $350.6 million in 2025, on demand for cloud mining services and repeat purchases.
• Cloud Mining Solutions made up 58.2% of BitFuFu’s $42.8 million revenue in Q2 2026, down from 81.7% of $115.4 million in Q2 2025.
• Cloud Mining Solutions revenue fell 73.6% to $24.9 million in Q2 2026 on lower average selling prices, and net dollar retention was 24.1%.
• Bitdeer‘s cloud hash rate revenue dropped from $39.8 million in 2024 to $2.1 million in 2025 as long-term cloud hash rate contracts expired.

Source: BitFuFu 2025 and Q2 2026 results (Form 6-K), Bitdeer Form 20-F for 2025

By the numbers: BitFuFu’s Cloud Mining Solutions revenue grew 29.4% to $350.6 million in 2025, then fell 73.6% year over year to $24.9 million in the second quarter of 2026, from $94.3 million a year earlier, and net dollar retention was 24.1% for that quarter. A provider whose recurring revenue in 2025 matched its 2024 revenue kept recurring revenue in Q2 2026 equal to only 24.1% of its Q2 2025 cloud mining revenue.

About This Data

Compiled from 14 sources: 6 company filings with the SEC from BitFuFu and Bitdeer, and 8 regulator, court and law-enforcement documents. Those documents come from the DOJ, SEC, CFTC, FTC, FBI and Texas State Securities Board. Dated sources run from April 2024 to October 2026. Only company filings and official records qualified, and figures are reviewed on a rolling basis as sources publish new editions.

Don't chase the news. Let us curate it.

You get one weekly briefing with only the stories that matter. If the market is quiet, we skip it.

Email address

Get the Weekly Briefing - it's free!

Read by pros at Visa, Mastercard, Vanguard, and the FDIC.

BitFuFu Revenue Mix and the Cloud Mining Share

• Cloud Mining Solutions grew from 58.5% of BitFuFu’s revenue in 2024 to 73.7% in 2025, while self-mining fell from 34.0% to 13.3%.
• BitFuFu said it reallocated hashrate away from self-mining toward Cloud Mining Solutions to improve capital efficiency and revenue visibility.
• Cloud Mining Solutions fell to 58.2% of revenue in Q2 2026 from 81.7% a year earlier, while self-mining rose to 32.7%.

Recent Developments

• October 13, 2026: BitFuFu reported 167 BTC of production for September 2026, including 69 BTC from cloud mining, down from 86 BTC in August.
• September 3, 2026: BitFuFu’s August update showed cloud mining production of 86 BTC, up from 40 BTC in July, with hashrate at 20.6 EH/s.
• August 17, 2026: BitFuFu reported Q2 2026 Cloud Mining Solutions revenue of $24.9 million and a net dollar retention rate of 24.1%.
• August 17, 2026: BitFuFu said it had secured additional hashrate to restore total managed hashrate to approximately 20 EH/s by mid-August.
• August 7, 2026: BitFuFu’s July update showed cloud mining production of 40 BTC, down from 55 BTC in June.

Cloud Mining Users and Customer Retention

• BitFuFu’s Cloud Mining Solutions registered users increased by 14.2% to 675,765 as of December 31, 2025.
• BitFuFu calculates net dollar retention for 2025 by dividing recurring revenue in 2025 by revenue in 2024.
• The Q2 2026 rate compares recurring revenue in the second quarter of 2026 with total Cloud Mining revenue in the second quarter of 2025, and reflected reduced order volumes from existing customers.

Source: BitFuFu 2025 full-year results and Q2 2026 results (Form 6-K)

How many people use cloud mining?

None of the sources here gives a market-wide count of cloud mining users. BitFuFu, one listed provider, reported 675,765 registered Cloud Mining Solutions users as of December 31, 2025, up from 591,751 a year earlier. Registered accounts measure sign-ups, so active paying customers are likely fewer.

Cloud Mining Hashrate Under Management

• BitFuFu’s total hashrate decreased by 57.7% to 15.3 EH/s as of June 30, 2026, from 36.2 EH/s a year earlier.
• Total mining capacity under management was 26.1 EH/s at the end of 2025, compared to 23.5 EH/s at the end of 2024.
• Of BitFuFu’s 19.4 EH/s in September 2026, 15.6 EH/s came from third-party suppliers and hosting customers and 3.8 EH/s was self-owned.
• Third-party and hosting hashrate made up 80.4% of the September total.

A cloud mining contract is a claim on part of this capacity, so the hashrate line sets the ceiling on what a provider can sell.

Bitcoin Mined Through Cloud Mining Contracts

• Customers using hashrate bought from BitFuFu’s Cloud Mining Solutions produced 3,051 BTC in 2025, down from 4,947 BTC in 2024.
• That is a decline of 38.3% in Bitcoin produced for cloud mining customers.
• BitFuFu produced 167 BTC in September 2026, with 98 BTC from self-mining, up from 88 BTC in August, and 69 BTC from cloud mining.
• BitFuFu’s cloud mining production totaled 250 BTC over June to September 2026, against 328 BTC from self-mining.

Bitdeer Cloud Hash Rate Statistics

• Bitdeer’s cloud hash rate revenue decreased by 94.7%, from $39.8 million in 2024 to $2.1 million in 2025.
• Bitdeer’s hash rate allocated to Cloud Hash Rate was 1.6 EH/s in 2023, and long-term Cloud Hash Rate contracts expired over the course of 2024.
• Bitdeer reallocated nearly all hash rate of its mining rigs to self-mining operations by the end of 2024.
• Bitdeer’s Form 20-F says its hash rate subscriptions are primarily priced with reference to the Bitcoin price and overall network hash rate at the time of sale.

Key finding: Bitdeer’s Form 20-F ties the 94.7% fall in cloud hash rate revenue, from $39.8 million to $2.1 million, to expiring long-term contracts and the reallocation of nearly all hash rate to self-mining by the end of 2024. When a miner moves its machines to self-mining, the hashrate it can rent out shrinks with them.

Cloud Mining Economics: Bitcoin Price and Network Difficulty

• Higher network difficulty reduced average daily BTC earnings per terahash by 9.7% in Q2 2026, and the average BTC price declined 27.5% from the second quarter of 2025.
• In 2025, Bitcoin daily earnings per terahash declined 52.1% due to higher global network difficulty.
• BitFuFu’s cost to mine one BTC from self-mining averaged $77,573 in 2025.

Source: BitFuFu 2025 full-year results and Q2 2026 results (Form 6-K)

The Bitcoin price and network difficulty both feed the value of a hashrate contract, because difficulty sets how much a terahash can earn.

Cloud Mining Fraud Cases by Amount

• HashFlare relied on fake online dashboards and lacked the computing capacity to mine the vast majority of the cryptocurrency it claimed to generate.
• The HashFlare sentences incorporated forfeited assets collectively valued at over $450 million, available for a remission process to compensate victims.
• The SEC alleged Geosyn Mining raised approximately $5.6 million from more than 60 investors and paid approximately $354,500 as purported profit distributions.
• A federal jury in Fort Worth convicted Geosyn founder Caleb Ward on all counts, after trial evidence showed clients wired more than $4.5 million to Geosyn.

Source: Department of Justice, Securities and Exchange Commission, 2024 to 2026

In each case, buyers paid for mining they could not inspect themselves. That is also how a legitimate cloud mining contract works, so the buyer relies on the provider’s own reporting.

Worth noting: The SEC complaint says Mining Automatic pooled investors’ contributions and used only about 13% of investors’ funds on expenses relating to purported crypto asset mining. These are allegations in a civil complaint, and they put a number on how little mining can sit behind a mining contract.

Promised Returns in Cloud Mining Scams

• Arkbit’s Standard Plans promised a daily 1.6% to 2.5% return over a term of 120 days, on deposits from $50 to $49,999, according to the Texas State Securities Board.
• At the Novice plan’s 1.6% a day, the 120-day term adds up to 192% of the deposit, and the Supreme plan’s 2.5% a day adds up to 300%.
• Mining Automatic’s investment agreements in many cases guaranteed investors a minimum monthly return, typically 3%.
• Fraudsters who claim to invest in mining farms promise high guaranteed returns, for example 20-50%, with little or no risk, the Commodity Futures Trading Commission (CFTC) warns.

The Federal Trade Commission (FTC) puts the rule plainly: Only scammers will guarantee profits or big returns. A cloud mining contract earns whatever its share of hashrate mines, so a fixed daily rate is a cloud mining scam signal on its own.

Crypto Losses Reported to the FBI

• The FBI’s Internet Crime Complaint Center (IC3) logged 181,565 complaints involving cryptocurrency in 2025, with $11.366 billion in losses.
• Operation Level Up, an FBI-led initiative that countered crypto investment scams, has reduced potential losses by more than $500 million since 2024.
• Investment-related fraud was again the largest component of losses reported to IC3 in 2025.

Source: FBI Internet Crime Complaint Center, 2025 IC3 Annual Report

These IC3 totals cover every complaint involving cryptocurrency, not cloud mining alone.

Is cloud mining profitable?

BitFuFu’s Q2 2026 filing shows higher network difficulty cut daily BTC earnings per terahash by 9.7% while the average BTC price fell 27.5%. Higher difficulty shrinks the Bitcoin a fixed slice of hashrate mines, and a lower price shrinks what that Bitcoin is worth; both squeeze miner margins, and contract buyers carry that risk.

The same filing linked weaker cloud mining revenue to lower average selling prices and weaker market sentiment. Whether a contract pays depends on its price, its fees and the path of Bitcoin, which no provider controls.

How do you spot a cloud mining scam?

The FTC says only scammers will guarantee profits or big returns. A joint SEC and CFTC staff alert adds that fraudsters sometimes demand extra costs, such as purported taxes, before investors can withdraw fake profits. HashFlare reported mining activity through fake online dashboards, so an account balance alone proves little. Guaranteed yield, fees to withdraw and a dashboard as the only proof are crypto scam warning signs these cases and alerts point to.

Conclusion

BitFuFu’s cloud mining revenue reached $350.6 million in 2025, and its Q2 2026 cloud mining revenue of $24.9 million was 73.6% below Q2 2025’s $94.3 million. Bitdeer’s cloud hash rate revenue fell to $2.1 million in 2025. Legitimate cloud mining is a cyclical business tied to the Bitcoin price, while the scams around it promise steady returns it cannot deliver. BitFuFu’s monthly production reports and the SEC’s pending case against Mining Automatic are the next data points to watch.