BitFuFu Inc. (NASDAQ: FUFU) shares rose 8.2% in pre-market trading on Monday after the company disclosed a board-approved share repurchase plan.
According to the company, the board of directors on June 22, 2026 authorized a program permitting BitFuFu to buy back as much as $5 million of its Class A ordinary shares over a 24-month window that begins on June 24, 2026. The company said repurchases may be carried out through open market purchases, privately negotiated transactions, or other methods permissible under applicable securities laws.
The filing emphasized that the timing, pace and total amount of any repurchases will be influenced by business, economic and market conditions, as well as prevailing stock prices and trading volumes. BitFuFu said it intends to fund the buybacks using its existing cash and cash equivalents. The board will periodically review the program and retains the ability to amend its terms or adjust its size.
Leadership statement
In a prepared comment, Leo Lu, Chairman and Chief Executive Officer of BitFuFu, said the board's approval of the repurchase program demonstrates confidence in the company’s fundamentals and prospects and reflects a commitment to disciplined capital allocation. Lu added that although current market conditions could lead to short-term fluctuations in operating metrics, the company’s solid financial position allows it to repurchase shares opportunistically while continuing investments to expand its global infrastructure platform and raise hashrate capacity.
Mechanics and discretion
The company noted that repurchases may occur under a variety of transaction structures in line with securities laws. Because the program is subject to periodic board review, the ultimate size and timing of repurchases could change based on evolving conditions. BitFuFu did not provide a schedule for purchases or minimum price thresholds in its announcement.
Market reaction
Shares reacted positively in pre-market trading following the announcement. The company’s statement frames the buyback as a use of available liquidity to support shareholder value while simultaneously pursuing growth in its mining infrastructure and hashrate expansion plans.
Summary
- Board approved up to $5 million in share repurchases over 24 months starting June 24, 2026.
- Repurchases funded with existing cash and cash equivalents; methods include open market and private transactions.
- Timing and amount of repurchases depend on market and business conditions; board will review the program periodically.
Key quote
"The Board’s authorization of this share repurchase program reflects our confidence in BitFuFu’s fundamentals and growth prospects, as well as our commitment to disciplined capital allocation," said Leo Lu, Chairman and CEO.