Is it beneficial to bulk while having moderate body fat?

Yes, if you're at a moderate body fat level, between 12-20% for men or 20-28% for women, a lean bulk can be effective. You should aim for a slight caloric surplus of 200-300 kcal per day (caution: such aggressive deficits trigger adaptive thermogenesis — a moderate 300-500 kcal deficit is safer and more sustainable) while maintaining high protein intake. It's also important to periodize your approach by alternating bulking phases with maintenance or mild cutting phases to prevent excessive fat accumulation.