BitFuFu initiated with a Buy at H.C. Wainwright

H.C. Wainwright initiated coverage of BitFuFu (FUFU) with a Buy rating and $7 price target BitFuFu is a cloud mining service provider, meaning the company hosts bitcoin mining machines in its responsibility for every aspect of buying and running the machines, the analyst tells investors in a research note. The firm says the company’s “advantaged” cloud mining platform is furnishing direct bitcoin mining exposure.