BitFuFu Signs Deal With BITMAIN to Acquire 80,000 Miners

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Journalist

Tanzeel Akhtar

Journalist

Tanzeel Akhtar

About Author

Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk, Bitcoin Magazine and Bitcoin.com.

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BitFuFu Signs Deal With Bitmain To Acquire 80,000 Miners

Nasdaq-listed Bitcoin mining firm BitFuFu Inc. has signed an agreement with BITMAIN, a manufacturer of digital asset mining hardware, to acquire up to 80,000 S-series miners.

In a press release shared with CryptoNews, BitFuFu said it has entered a two-year framework agreement under which it will acquire miners, including BITMAIN’s flagship models, the S21 XP and S21 Pro.

Agreement Gives Firm Flexibility to Place Orders Anytime

The agreement will give BitFuFu flexibility in placing orders in batches over the next two years.

BitFuFu said it will have the option to pay a portion of the purchase price using its shares and defer part of the cash payments interest-free after the miners are delivered.

“Our deep strategic partnership with BITMAIN ensures a steady supply of the latest miners to rapidly expand our mining infrastructure globally, with a target of adding 1 GW in capacity by the end of 2026,” said Leo Lu, CEO of BitFuFu.

BitFuFu Launches New Bitcoin Mining Pool

In December, BitFuFu launched BitFuFu Pool, its private-label Bitcoin mining pool.

With a commission rate starting at 0.4%, this offering is targeted at institutional and retail miners seeking cost-effective solutions.

BitFuFu mined 84 BTC from self-mining operations in November 2024 with a total of 2.4EH/s in mining capacity, according to a recent report.

The firm has disclosed it currently holds 1,664 BTC as part of its disciplined treasury management strategy.

BITMAIN Expands Production to the US

China-based mining hardware manufacturer BITMAIN has also announced the expansion of its production operations to the US citing a strategic goal of improving supply chain efficiency.

This stems from trade tensions between China and the US, emphasizing the need for companies to adapt to geopolitical challenges.

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