BitFuFu Expands with Major Acquisition in Oklahoma

BitFuFu Inc., a leader in Bitcoin mining, has acquired a 51MW operational data center in Oklahoma, marking a significant enhancement in its U.S. operational capacity. Priced at $400,000 per MW and funded through cash and common stock, this acquisition allows BitFuFu to leverage a facility with a track record of over 95% uptime and a competitive electricity cost of approximately $0.03/kWh. This move enables BitFuFu to mine Bitcoin at a cash cost as low as $18,000, assuming the deployment of AntMiner S21 XP and excluding depreciation. The Oklahoma facility benefits from a crypto-friendly regulatory environment and plans for expansion in mining capacity with a projected increase of over 3EH/s in managed hashrate. This is part of BitFuFu’s strategic 1GW Global Capacity Expansion Plan, supported by a framework agreement to purchase up to 80,000 S-series miners from BITMAIN. With these developments, BitFuFu aims to enhance its self-mining operations, hosting services, and cloud mining platform, continuously striving for operational excellence and value creation for its clients and shareholders.