Singapore’s BitFuFu to Acquire Majority Stake in Bitcoin Mining Facility in Oklahoma

Singapore-based Bitcoin mining firm BitFuFu Inc. has announced plans to acquire a majority stake in a 51-megawatt (MW) Bitcoin mining facility in Oklahoma.

The company has signed a letter of intent for the transaction, which is expected to close in the first half of 2025, pending further due diligence and customary closing conditions.

The facility, located in an unpopulated area, has completed its power and mining infrastructure.

It operates on a reliable 51 MW power supply sourced from the grid at an average cost of approximately three cents per kilowatt-hour. Equipped with air-cooled Bitcoin miners, it has demonstrated high hash rate efficiency.

The proposed acquisition aligns with BitFuFu’s strategy to expand in North America and enhance its global power capacity to 1 gigawatt.

The firm aims to leverage the facility’s low-cost and stable energy supply to improve operational efficiency and strengthen its position in the bitcoin mining sector.

The transaction will be structured as a majority equity acquisition. BitFuFu emphasized that the deal underscores its commitment to delivering sustainable value to shareholders and fostering industry partnerships.

However, the company noted there is no guarantee the transaction will be finalized.

BitFuFu provides a range of mining solutions, including cloud-mining services, and aims to build a secure and transparent blockchain infrastructure.

The firm is backed by BITMAIN, a global manufacturer of digital asset mining hardware, and remains a strategic partner in mining operations.

The company’s global network of mining facilities and partnership with BITMAIN allows it to offer efficient digital asset mining solutions to institutional and retail customers.

BitFuFu continues to prioritize scalability and compliance as it expands its operations worldwide.

The Oklahoma acquisition represents a significant step in BitFuFu’s efforts to bolster its North American presence and maintain leadership in the bitcoin mining industry.



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