BitFuFu, Finloop Launch Hashrate Token

BitFuFu Launches Tokenized Bitcoin Mining Returns, Offering On-Chain Exposure

Singaporean Bitcoin mining firm BitFuFu Inc. (NASDAQ: FUFU) has partnered with Finloop to introduce the Hashrate Token, or HASH, a novel on-chain note designed to provide investors with exposure to Bitcoin mining returns without the operational complexities. Announced on October 13, 2026, the HASH token is denominated in BTC and its returns are directly tied to the economic output of the Bitcoin mining hashrate managed by BitFuFu.

A New Approach to Mining Investment

BitFuFu, which offers hashrate as a service, will channel payouts for HASH noteholders from newly mined Bitcoin. These payouts originate from mining rewards, eliminating the counterparty risk associated with traditional debt instruments. However, this structure introduces a new variable for investors to monitor: the actual output of Bitcoin mining operations.

The HASH notes will be deployed on both the Ethereum and Solana blockchains. All transactions related to the issuance, holding, and distribution of profits will be recorded on-chain, providing a transparent public ledger for investors. Each note has a twelve-month term, with returns prorated based on the duration an investor holds the token.

Restricted Access and Regulatory Compliance

Access to the HASH token is limited to eligible investors who meet specific jurisdictional, Know Your Customer (KYC), and Anti-Money Laundering (AML) requirements. These checks are standard for regulated financial products, ensuring compliance and identity verification.

Finloop provides the underlying technological infrastructure for the HASH token through its FinRWA Platform. This platform handles the issuance, token lifecycle management, and investor administration. RWA, or real-world assets, refers to the growing trend of tokenizing off-chain value onto blockchain networks.

Operational Performance and Market Dynamics

In September 2026, BitFuFu mined a total of 167 BTC, with 98 BTC generated from its self-mining operations and 69 BTC from its cloud mining business. At that time, the company held 1,388 BTC. The hashrate under management reached 20.6 EH/s in August, experiencing a slight decrease to 19.4 EH/s in September. EH/s, or exahashes per second, measures the computational power used in Bitcoin mining.

BitFuFu reported a net loss of $20.5 million in the second quarter, attributed to challenging market conditions and a decline in Bitcoin prices. The company’s subsequent recovery has been bolstered by the growth in its managed hashrate.

Risks and Opportunities for Investors

The BTC denomination of the HASH token presents a dual-edged proposition. While payouts are received in Bitcoin, investors who track their wealth in U.S. dollars are exposed to Bitcoin price volatility in addition to mining performance risk. A drop in Bitcoin’s price would reduce the dollar value of payouts, even if mining operations perform optimally.

The fluctuation in hashrate from August to September serves as a reminder that mining inputs are not static. Prospective investors will need to understand how payout calculations are affected by changes in hashrate.

For BitFuFu, the HASH token represents a new avenue for monetizing its hashrate. This product effectively packages its cloud mining model into a tokenized format, complete with an on-chain audit trail. The decision to deploy on both Ethereum and Solana aims to broaden the token’s reach, tapping into the extensive user and developer ecosystems of these major networks. The on-chain record of distributions offers a level of transparency rarely found in traditional Bitcoin mining investment contracts.