BitFuFu Inc (NASDAQ:FUFU) shares rose 8.2% in premarket trading on Monday after the Bitcoin mining company unveiled a new share buyback programme aimed at returning capital to shareholders.
The initiative signals management’s confidence in the company’s long-term outlook while providing additional flexibility to deploy capital during periods of market volatility.
Board Approves Two-Year Repurchase Programme
BitFuFu announced that its board of directors approved the share repurchase programme on June 22, 2026.
Under the plan, the company will be authorised to buy back up to $5 million of its Class A ordinary shares over a 24-month period beginning on June 24, 2026.
The company said purchases may be executed through open market transactions, privately negotiated deals or other methods permitted under applicable securities regulations.
Buyback Activity to Depend on Market Conditions
Management noted that the timing, size and frequency of any repurchases will depend on several factors, including market conditions, trading volumes, share price performance and broader economic developments.
The programme provides flexibility rather than a fixed commitment, allowing the company to adjust its approach as circumstances evolve.
BitFuFu also stated that its board will periodically review the programme and retains the ability to modify its size or terms if necessary.
Existing Cash Resources to Fund Repurchases
The company intends to finance the share repurchase programme using its current cash holdings and cash equivalents.
By relying on existing liquidity, BitFuFu aims to pursue the buyback while maintaining the financial resources needed to support ongoing operations and growth initiatives.
Management Highlights Confidence in Long-Term Strategy
Chairman and Chief Executive Officer Leo Lu said the programme reflects management’s positive view of the company’s future prospects.
“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 of BitFuFu.
Company Continues to Invest in Growth
Lu added that despite potential short-term volatility affecting operating performance, the company remains well positioned financially.
According to management, BitFuFu plans to balance opportunistic share repurchases with continued investment in expanding its global infrastructure footprint and increasing mining capacity.
The company believes its strong balance sheet provides the flexibility to pursue both objectives simultaneously while supporting long-term shareholder value creation.