BitFuFu Signs Long-Term Lease for Two Mining Facilities with 33 MW Capacity in the U.S.
BitFuFu (NASDAQ: FUFU) has signed 10-year exclusive lease agreements for two Bitcoin mining facilities in the U.S., with a combined capacity of 33 megawatts (MW). The facilities, with 22 MW and 11 MW capacity respectively, can potentially add 2EH/s of mining capacity with power costs averaging as low as $0.042 per kilowatt-hour. The agreements include options to acquire majority stakes in both facilities.
This move represents BitFuFu's strategic shift from an asset-light to a more diversified infrastructure management approach. The company aims to add 1 GW of capacity by the end of 2026, with over 110 MW now under company control. BitFuFu has already operated at these facilities for approximately one year, confirming their operational stability and cost-effectiveness.
BitFuFu (NASDAQ: FUFU) ha firmato contratti di locazione esclusiva di 10 anni per due impianti di estrazione di Bitcoin negli Stati Uniti, con una capacità complessiva di 33 megawatt (MW). Gli impianti, con una capacità di 22 MW e 11 MW rispettivamente, possono potenzialmente aggiungere 2EH/s di capacità di mining con costi energetici medi che si attestano a soli $0,042 per kilowattora. I contratti prevedono opzioni per acquisire partecipazioni di maggioranza in entrambi gli impianti.
Questa mossa rappresenta un cambio strategico per BitFuFu, passando da un approccio senza asset a una gestione delle infrastrutture più diversificata. L'azienda mira ad aggiungere 1 GW di capacità entro la fine del 2026, con oltre 110 MW già sotto il controllo dell'azienda. BitFuFu ha già operato in questi impianti per circa un anno, confermando la loro stabilità operativa e convenienza dei costi.
BitFuFu (NASDAQ: FUFU) ha firmado acuerdos de arrendamiento exclusivos de 10 años para dos instalaciones de minería de Bitcoin en EE. UU., con una capacidad total de 33 megavatios (MW). Las instalaciones, con capacidades de 22 MW y 11 MW respectivamente, pueden potencialmente añadir 2EH/s de capacidad de minería con costos de energía promedios tan bajos como $0.042 por kilovatio-hora. Los acuerdos incluyen opciones para adquirir participaciones mayoritarias en ambas instalaciones.
Este movimiento representa un cambio estratégico de BitFuFu, pasando de un enfoque liviano en activos a una gestión de infraestructura más diversificada. La empresa tiene como objetivo añadir 1 GW de capacidad para finales de 2026, con más de 110 MW ya bajo su control. BitFuFu ha operado en estas instalaciones durante aproximadamente un año, confirmando su estabilidad operativa y rentabilidad de costos.
BitFuFu (NASDAQ: FUFU)는 미국 내 두 개의 비트코인 채굴 시설에 대해 10년 독점 임대 계약을 체결하였으며, 총 용량은 33메가와트 (MW)입니다. 각 시설의 용량은 각각 22 MW와 11 MW로, 평균 $0.042 킬로와트시의 전력비용으로 2EH/s의 채굴 용량을 추가할 수 있습니다. 계약에는 두 시설의 대다수 지분을 인수할 수 있는 옵션이 포함되어 있습니다.
이번 결정은 BitFuFu가 자산 경량화 방식에서 다각화된 인프라 관리 방식으로 전략적 전환을 하는 것을 나타냅니다. 회사는 2026년 말까지 1 GW의 용량을 추가할 계획이며, 현재 110 MW 이상이 회사의 통제 하에 있습니다. BitFuFu는 이 시설에서 약 1년 동안 운영해왔으며, 운영 안정성과 비용 효율성을 확인했습니다.
BitFuFu (NASDAQ: FUFU) a signé des contrats de location exclusifs de 10 ans pour deux installations de minage de Bitcoin aux États-Unis, avec une capacité totale de 33 mégawatts (MW). Les installations, avec une capacité de 22 MW et 11 MW respectivement, peuvent potentiellement ajouter 2EH/s de capacité de minage avec des coûts énergétiques moyens s'élevant à seulement 0,042 $ par kilowattheure. Les accords comportent des options pour acquérir des participations majoritaires dans les deux installations.
Ce mouvement représente un changement stratégique pour BitFuFu, passant d'une gestion légère d'actifs à une approche de gestion d'infrastructure plus diversifiée. L'entreprise vise à ajouter 1 GW de capacité d'ici la fin de 2026, avec plus de 110 MW déjà sous son contrôle. BitFuFu a déjà opéré dans ces installations pendant environ un an, confirmant leur stabilité opérationnelle et leur rentabilité.
BitFuFu (NASDAQ: FUFU) hat 10-jährige exklusive Mietverträge für zwei Bitcoin-Mining-Anlagen in den USA unterzeichnet, die eine Gesamtkapazität von 33 Megawatt (MW) haben. Die Anlagen mit 22 MW und 11 MW Kapazität können potenziell 2EH/s an Miningkapazität hinzufügen, wobei die Stromkosten im Durchschnitt nur $0.042 pro Kilowattstunde betragen. Die Verträge enthalten Optionen zum Erwerb von Mehrheitsanteilen an beiden Anlagen.
Dieser Schritt stellt einen strategischen Wechsel von BitFuFu dar, vom aktienleichten Ansatz hin zu einer diversifizierteren Infrastrukturemanagement-Strategie. Das Unternehmen plant, bis Ende 2026 1 GW an Kapazität hinzuzufügen, wobei derzeit über 110 MW unter der Kontrolle des Unternehmens stehen. BitFuFu hat bereits seit etwa einem Jahr in diesen Anlagen operiert und bestätigt deren betriebliche Stabilität und Kosteneffizienz.
- Secured long-term power access at competitive rates ($0.042/kWh)
- Option to acquire majority stake in both facilities
- Potential addition of 2EH/s mining capacity
- Already achieved 110 MW of controlled capacity
- 10-year lease terms provide operational stability
- Shift from asset-light strategy requires higher capital investment
- Increased operational costs and maintenance responsibilities
- Long-term lease commitments during market volatility
Insights
This 33 MW capacity expansion represents a significant strategic shift for BitFuFu, moving from an asset-light model toward infrastructure ownership. The
The potential addition of 2 EH/s mining capacity would substantially boost BitFuFu's hashrate, improving their market position ahead of the 2024 Bitcoin halving. The company's ambitious 1 GW capacity target by 2026 signals aggressive growth plans, though successful execution will require significant capital investment and operational expertise.
The strategic value of these facilities extends beyond their 33 MW capacity. The one-year operational history at these sites has already validated their reliability and integration potential, significantly reducing execution risk. The
The 110 MW milestone represents strong progress toward the 1 GW target, though bridging the remaining gap will require careful site selection and power contract negotiations in an increasingly competitive market.
SINGAPORE, Dec. 11, 2024 (GLOBE NEWSWIRE) -- BitFuFu Inc., (“BitFuFu” or “the Company”) (NASDAQ: FUFU), a global leader in Bitcoin mining and comprehensive mining services, today announced it has entered into 10-year exclusive lease agreements for two Bitcoin mining facilities with a combined capacity of 33 megawatts (MW) in the U.S. The lease agreements grant BitFuFu the option to acquire a majority stake in both mining facilities.
The lease of both mining facilities marks the next step in BitFuFu’s transition from an asset-light strategy to one that manages a diverse and robust portfolio of Bitcoin mining infrastructure. BitFuFu has set a target of adding 1 GW of capacity by the end of 2026. With the addition of the two mining facilities, BitFuFu is rapidly executing on this target with over 110 MW now residing in sites owned or operated by the Company.
The two mining facilities, with hosting capacity of 22 MW and 11 MW, respectively, will provide BitFuFu with the potential to add 2EH/s of mining capacity (depending on miner fleet specification) and power costs averaging as low as US
Leo Lu, CEO and Chairman of BitFuFu, stated, “Given our long-term bullish outlook on Bitcoin, we have been focused on finding the optimal mix between a pure asset-light and asset heavy strategy. Acquiring and vertically integrating mining facilities globally is key to securing cost efficient and stable power sources for our operations.”
“After carefully assessing and running small-scale operations at both sites over the past year, we are pleased to sign these long-term lease agreements and begin building a long-term partnership. Looking ahead, we will continue to enhance our cost structure and long-term operational stability by acquiring established mining facilities or developing our own.”
About BitFuFu Inc.
BitFuFu Inc. is a global leader in Bitcoin mining and comprehensive mining services, providing customers with one-stop solutions including cloud-mining. BitFuFu received early investment from BITMAIN, a world-leading digital asset mining hardware manufacturer, and remains BITMAIN’s strategic partner in the Bitcoin mining and mining services 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
ir@bitfufu.com
BitFuFu Media Relations
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