BitFuFu Secures $100 Million Credit Line From Antpool Technologies
BitFuFu (NASDAQ: FUFU) has secured a two-year Master Loan Agreement with Antpool Technologies for a credit line of up to $100 million. The funds will be used for general corporate purposes, including potential M&A opportunities and hosting fees to maintain Bitcoin holdings. The agreement features a 6.5% annual interest rate and requires Bitcoin collateral with a 70% loan-to-value ratio. The secured Bitcoin will be held by Antpool Technologies. Currently, no funds have been drawn from this credit line.
BitFuFu (NASDAQ: FUFU) ha ottenuto un contratto di prestito master della durata di due anni con Antpool Technologies per una linea di credito fino a 100 milioni di dollari. I fondi saranno utilizzati per scopi aziendali generali, comprese le potenziali opportunità di fusione e acquisizione e le spese di hosting per mantenere le riserve di Bitcoin. L'accordo prevede un tasso d'interesse annuale del 6,5% e richiede un collaterale in Bitcoin con un rapporto prestito/valore del 70%. I Bitcoin vincolati saranno detenuti da Antpool Technologies. Attualmente, non sono stati prelevati fondi da questa linea di credito.
BitFuFu (NASDAQ: FUFU) ha conseguido un acuerdo maestro de préstamo de dos años con Antpool Technologies por una línea de crédito de hasta 100 millones de dólares. Los fondos se utilizarán para propósitos corporativos generales, incluidas oportunidades potenciales de fusiones y adquisiciones y tarifas de hosting para mantener las reservas de Bitcoin. El acuerdo incluye una tasa de interés anual del 6,5% y requiere colateral en Bitcoin con un ratio préstamo-valor del 70%. El Bitcoin garantizado será mantenido por Antpool Technologies. Actualmente, no se han retirado fondos de esta línea de crédito.
BitFuFu (NASDAQ: FUFU)는 Antpool Technologies와 1억 달러까지의 신용 한도에 대한 2년 마스터 대출 계약을 체결했습니다. 이 자금은 M&A 기회와 비트코인 보유를 유지하기 위한 호스팅 비용을 포함한 일반 기업 용도로 사용됩니다. 본 계약은 연 6.5%의 이자율을 특징으로 하며 70%의 담보 대출-가치 비율을 요구합니다. 담보된 비트코인은 Antpool Technologies에 의해 보관됩니다. 현재 이 신용 한도에서 자금이 인출되지 않았습니다.
BitFuFu (NASDAQ: FUFU) a sécurisé un contrat de prêt maître de deux ans avec Antpool Technologies pour une ligne de crédit pouvant atteindre 100 millions de dollars. Les fonds seront utilisés à des fins générales d'entreprise, y compris pour des opportunités potentielles de fusions et acquisitions ainsi que des frais d'hébergement pour maintenir des avoirs en Bitcoin. L'accord comprend un taux d'intérêt annuel de 6,5% et nécessite un collatéral en Bitcoin avec un ratio prêt-valeur de 70%. Les Bitcoins garantis seront détenus par Antpool Technologies. Actuellement, aucun fonds n'a été retiré de cette ligne de crédit.
BitFuFu (NASDAQ: FUFU) hat einen zweijährigen Master-Kreditvertrag mit Antpool Technologies über eine Kreditlinie von bis zu 100 Millionen Dollar gesichert. Die Mittel werden für allgemeine Unternehmenszwecke verwendet, einschließlich potenzieller Fusionen und Übernahmen sowie Hosting-Gebühren zur Aufrechterhaltung von Bitcoin-Beständen. Der Vertrag sieht einen jährlichen Zinssatz von 6,5% vor und erfordert Bitcoin als Sicherheitsleistung mit einem 70% Beleihungswertverhältnis. Die gesicherten Bitcoins werden von Antpool Technologies gehalten. Derzeit wurden keine Mittel aus dieser Kreditlinie abgerufen.
- Secured substantial $100M credit facility enhancing financial flexibility
- Favorable 6.5% interest rate in current market conditions
- Potential for M&A opportunities and Bitcoin retention strategy
- Requires Bitcoin collateral which could be at risk if prices decline
- 70% LTV ratio exposes company to potential margin calls in volatile markets
Insights
This
The partnership with Antpool Technologies, a major player in the mining ecosystem, strengthens BitFuFu's market position. The ability to retain Bitcoin holdings rather than selling to cover operational costs could prove particularly valuable in a bull market scenario. The facility's dual-purpose nature - supporting both M&A opportunities and working capital needs - provides strategic optionality for growth and market timing.
Singapore, Nov. 12, 2024 (GLOBE NEWSWIRE) -- BitFuFu, Inc.. (NASDAQ: FUFU, FUFU.WS) (“BitFuFu” or the “Company”), a fast-growing digital asset mining service and world-leading cloud-mining service provider, today announced that its wholly owned subsidiary has entered into a two-year Master Loan Agreement (“MLA”) with Antpool Technologies, granting the Company access up to
Borrowings under the MLA bear an annual interest rate of
About BitFuFu Inc.
BitFuFu is a fast-growing digital asset mining service and world-leading cloud-mining service provider. BitFuFu received early investment from Bitmain, a world-leading digital asset mining hardware manufacturer, and remains Bitmain's sole strategic partner in the cloud mining space.
BitFuFu is dedicated to fostering a secure, compliant, and transparent blockchain infrastructure, providing a variety of stable and intelligent digital asset mining solutions to a global customer base. Leveraging its expanding global mining facility network and strategic partnership with Bitmain, BitFuFu enables institutional customers and digital asset enthusiasts to mine digital assets efficiently.
For more information, please visit https://ir.bitfufu.com/.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target" or other similar expressions that predict or indicate future events or trends. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of BitFuFu's management and are not predictions of actual performance. These statements involve risks, uncertainties and other factors that may cause BitFuFu's actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by these forward-looking statements. Although the Company believes that it has a reasonable basis for each forward-looking statement contained in this press release, the Company cautions you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. All information provided in this press release is as of the date of this press release and the Company does not undertake any duty to update such information, except as required under applicable law.
For investor and media inquiries, please contact:
BitFuFu Investor Relations
Charley Brady
Vice President, Investor Relations
charley.b@bitfufu.com
BitFuFu Media Relations
Jessie Meng
PR Director
jessie.meng@bitfufu.com
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