BitFuFu Acquires 51MW Operational Data Center in Oklahoma, Expanding U.S. Mining Footprint

Core Viewpoint - BitFuFu Inc. has acquired a majority ownership in a 51-megawatt operational Bitcoin mining data center in Oklahoma for $400,000 per MW, funded through cash and common stock from its balance sheet [1][9]. Strategic Benefits of the Acquisition - The acquired data center has been operational since 2022, with over 95% uptime and a competitive net electricity cost of approximately $0.03 per kWh, allowing BitFuFu to mine Bitcoin at a cash cost as low as $18,000 per Bitcoin, excluding depreciation [2][9]. - The facility includes a fully integrated operations center, providing a foundation for a state-of-the-art repair center to enhance mining efficiency [3]. - The site benefits from cost-effective energy delivery and operates within the Southwest Power Pool (SPP), a stable and regulated energy market, supported by a crypto-friendly regulatory environment in Oklahoma [4]. Scaling Hashrate & Hosting Services - BitFuFu plans to deploy AntMiner S21 series miners at the site, which will increase its total managed hashrate scale by over 3 EH/s, with potential for further expansion pending utility company studies [5]. - The company has executed a framework agreement to purchase up to 80,000 S-series miners from BITMAIN in Q4 2024, supporting its 1GW Global Capacity Expansion Plan [6]. Company Overview - BitFuFu Inc. is a global leader in Bitcoin mining and comprehensive mining services, providing one-stop solutions including cloud mining, and has a strategic partnership with BITMAIN [7][8].