Bitcoin Mining Company BitFuFu (NASDAQ: FUFU) to Acquire Majority Stake in 51-MW Bitcoin Mining Facility

BitFuFu Inc., (FUFU), a global leader in Bitcoin mining and comprehensive mining services, announced today that it has signed a letter of intent to acquire a majority stake in a 51-megawatt (MW) Bitcoin mining facility in the State of Oklahoma, United States.

Strategically located in an unpopulated area, the facility has completed construction of its power and mining infrastructure. It boasts a reliable power supply of 51 MW from the grid at a competitive average cost of approximately 3 cents per kilowatt-hour. Operating air-cooled Bitcoin miners, the facility has consistently delivered high levels of hashrate efficiency.

The transaction, expected to close in the first half of 2025 if consummated, is structured as a majority equity acquisition. The proposed transaction is subject to a definitive agreement to be negotiated between the parties, conditioned upon further financial and legal due diligence, as well as other customary closing conditions. There is no assurance that any transaction will be concluded.

“This acquisition would represent a pivotal step in advancing our North American expansion strategy and 1GW global power capacity build-up plan,” said Leo Lu, Chairman and CEO of BitFuFu. “By securing access to long-term, low-cost, and reliable power, we are not only enhancing our operational efficiency but also reinforcing our position as a leader in Bitcoin mining. Our ability to identify and capitalize on strategic opportunities is a testament to the scale of our global hash rate network and the insights into mining operations. This transaction underscores our unwavering commitment to delivering sustainable, long-term value to our shareholders while fostering strategic partnerships within the industry.”