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BitFuFu Inc., a Bitcoin mining company listed on Nasdaq, has finalized an agreement with BITMAIN, a manufacturer of cryptocurrency mining hardware, to acquire up to 80,000 S-series miners.
We have established a two-year contract with BITMAIN to procure up to 80,000 advanced miners. Flexible ordering and payment terms will enable us to expand capacity and provide high-quality, cost-effective Bitcoin mining solutions globally. #BITMAIN #GlobalExpansion #BTC pic.twitter.com/OSMdXOp8fd
— BitFuFu (@BitFuFuOfficial) January 2, 2025
In a press release distributed to CryptoNews, BitFuFu announced that it has entered into a two-year framework agreement under which it will acquire miners, including BITMAIN’s leading models, the S21 XP and S21 Pro.
Agreement Provides Company Flexibility to Place Orders Anytime
The agreement will grant BitFuFu the flexibility to place orders in batches over the next two years.
BitFuFu indicated that it would have the option to pay a portion of the purchase price with its shares and defer part of the cash payments interest-free after the miners are delivered.
“Our strong strategic partnership with BITMAIN guarantees a consistent supply of the latest miners to rapidly enhance our mining infrastructure worldwide, aiming to add 1 GW in capacity by the end of 2026,” stated Leo Lu, CEO of BitFuFu.
BitFuFu Launches New Bitcoin Mining Pool
In December, BitFuFu introduced BitFuFu Pool, its proprietary Bitcoin mining pool.
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@BitFuFuOfficial, a leader in cryptocurrency mining, has launched its own Bitcoin pool, BitFuFu Pool, to improve mining efficiency and serve a wider audience. #BitcoinMining #SelfMining https://t.co/FDWABIOHdP
— Cryptonews.com (@cryptonews) December 6, 2024
@BitFuFuOfficial, a leader in cryptocurrency mining, has launched its own Bitcoin pool, BitFuFu Pool, to improve mining efficiency and serve a wider audience. #BitcoinMining #SelfMining https://t.co/FDWABIOHdPWith a fee rate starting at 0.4%, this offering targets institutional and retail miners seeking economical solutions.
According to a recent report, BitFuFu mined 84 BTC from its self-mining activities in November 2024, with a total mining capacity of 2.4EH/s.
The company has revealed that it currently holds 1,664 BTC as part of its disciplined treasury management strategy.
BITMAIN Expands Manufacturing to the US
BITMAIN, a mining hardware manufacturer based in China, has also announced the expansion of its manufacturing operations to the US, citing a strategic goal of improving supply chain efficiency.
Bitmain has announced the expansion of its manufacturing operations to the USA to enhance supply chain efficiency. #Bitcoin #Mining https://t.co/Bgq1u9ROqK
— Cryptonews.com (@cryptonews) December 10, 2024
This move is a response to trade tensions between China and the US, highlighting the necessity for companies to adapt to geopolitical challenges.
The post BitFuFu Signs Deal With BITMAIN to Purchase 80,000 Miners appeared first on Cryptonews.
