BitFuFu and Hong Kong-based Finloop have launched Hashrate Token (HASH), an on-chain note designed to give eligible investors BTC-denominated exposure to the economic output of Bitcoin mining.

According to BitFuFu’s October 15 announcement, the underlying hashrate is provided as a service and contributes to professionally managed mining activity. The resulting economic output forms the basis for the note’s BTC-denominated returns, while profit distributions are recorded on-chain.

BitFuFu had already been publicly discussing asset tokenization as part of its broader financial-infrastructure strategy.

The distinction matters: HASH does not represent direct ownership of ASICs, a mining site or physical hashrate infrastructure. It is a tokenized note linked to mining economics. BitFuFu’s October 15 Form 6-K also states that the product is limited by investor-qualification, jurisdictional and compliance requirements and is not generally offered to U.S. persons.

BitFuFu’s VP of investor relations discusses where hosted and cloud hashrate fit into the changing Bitcoin-mining market at Bitcoin 2026.

The launch follows BitFuFu’s broader effort to turn mining infrastructure into more programmable financial products. BitcoinVersus.Tech has previously tracked the company’s 20 EH/s-scale mining platform, its BitFuFuOS power-market controls, and the economics of its cloud-mining model.

HASH pushes that model one step further: instead of selling only hosted compute or cloud-mining access, BitFuFu is packaging the economic output of managed mining into an on-chain financial instrument.

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