BitFuFu Signs Long-Term Lease for Two Mining Facilities with 33 MW Capacity in the U.S.

Core Viewpoint - BitFuFu Inc. has entered into 10-year exclusive lease agreements for two Bitcoin mining facilities in the U.S., with a combined capacity of 33 megawatts, allowing the company the option to acquire a majority stake in these facilities [1][2]. Group 1: Company Strategy and Growth - The lease agreements represent a shift from an asset-light strategy to a more robust portfolio of Bitcoin mining infrastructure, with a target of adding 1 GW of capacity by the end of 2026 [2]. - With the addition of the two facilities, BitFuFu now has over 110 MW of capacity across its owned or operated sites [2]. - The two facilities have hosting capacities of 22 MW and 11 MW, respectively, and can potentially add 2 EH/s of mining capacity, with power costs averaging as low as $0.042 per kilowatt-hour [3]. Group 2: Leadership Insights - CEO Leo Lu emphasized the importance of balancing asset-light and asset-heavy strategies to secure cost-efficient and stable power sources for operations [4]. - The company has been managing operations at these facilities for about a year and is satisfied with their uptime, cost-effectiveness, and operational stability [3][4]. Group 3: Company Background - BitFuFu Inc. is recognized as a global leader in Bitcoin mining and comprehensive mining services, providing one-stop solutions including cloud-mining [5]. - The company has received early investment from BITMAIN, a leading digital asset mining hardware manufacturer, and maintains a strategic partnership with BITMAIN [5][6]. - BitFuFu is committed to fostering a secure, compliant, and transparent blockchain infrastructure, offering stable and intelligent digital asset mining solutions to a global customer base [6].