Fusarium species are widely distributed in ecosystems with wide pH ranges and play pivotal roles in aquatic communities through xenobiotic degradation. It is necessary to explore genomic insights for the application of Fusarium species. In this study, the aquatic Fusarium strains QHM and BWC1 were isolated from a coal mine and a subterranean river, respectively, cultured under acidic conditions and sequenced genomically. Phylogenetic analysis of the isolates was conducted based on the sequences of internal transcripts and sequences encoding beta-microtubulin, translation elongation factors and the second large subunit of the RNA polymerase. Fusarium QHM demonstrates close relationships to the type strains of Fusarium ramigenum and Fusarium napiforme in Fusarium fujikuroi species complex. Fusarium BWC1 is predicted to be Fusarium subglutinans. A total of 479 and 2352 scaffolds, corresponding to 14,814 and 15,295 genes, were obtained for Fusarium spp. QHM and BWC1, respectively. Genomic analyses revealed that they harbored biodegradation pathways for aromatic compounds. Phenol stress experiments indicated that Fusarium spp. QHM and BWC1 exhibited optimal degradation at a density of 300 mg/L to achieve a phenol degradation rate of 39.91-43.65% at pH 3.5-4.0. Fusarium spp. QHM and BWC1 were applied to mock phenol-water, and an average phenol degradation rate of 51.71-65.55% indicated the feasibility of these species. The findings of this study have important implications for Fusarium spp. QHM and BWC1 applied to phenol wastewater in acidic or neutral pH environments.