Crypto Mining Agency BitFuFu Acquires Knowledge Middle in Oklahoma

Nasdaq-listed crypto mining agency BitFuFu Inc. introduced on Thursday that it acquired a majority possession stake in a 51-megawatt (MW) operational Bitcoin mining information heart in Oklahoma.

The transaction, valued at $400,000 per MW, was funded utilizing BitFuFu’s stability sheet money and customary inventory.

This acquisition aligns with the corporate’s technique to scale operations and improve mining effectivity.

Crypto Mining Growth and Operational Benefits

Operational since 2022, the Oklahoma-based facility leverages air-cooled container-based infrastructure to optimize effectivity and efficiency.

The power maintains a historic uptime of over 95% and advantages from a aggressive electrical energy charge of $0.03/kWh.

When utilizing AntMiner S21 XP items, BitFuFu can mine one Bitcoin for roughly $18,000, excluding miner and facility depreciation prices.

Moreover, the location features a totally built-in operations heart, serving as a basis for creating a restore hub that enhances mining effectivity.

Situated throughout the Southwest Energy Pool (SPP), a well-regulated vitality market, the ability advantages from Oklahoma’s insurance policies that assist crypto mining operations.

Legal guidelines such because the Oklahoma Industrial Digital Asset Mining Act of 2022 and the Vitality Discrimination Elimination Act present tax incentives and regulatory assist for Bitcoin mining within the state.

Scaling Crypto Mining Hashrate and Increasing Internet hosting Companies

To bolster its mining operations, BitFuFu intends to put in AntMiner S21 sequence or higher-efficiency miners on the newly acquired web site, rising its managed hashrate by over 3 exahashes per second (EH/s).

The location additionally has extra land out there for future enlargement, pending the completion of a transmission improve examine by the utility firm and SPP in mid-2025.

“We now have made vital progress towards our 1GW World Capability Growth Plan,” stated Leo Lu, Chairman and CEO of BitFuFu. “This acquisition enhances our self-mining operations, strengthens internet hosting providers, and expands our cloud mining platform. We’re excited to combine this extremely environment friendly facility into our community.”

As well as, BitFuFu has signed a framework settlement with BITMAIN to buy as much as 80,000 S-series miners, together with fashions such because the S21 XP and S21 Professional, in This autumn 2024.

This transfer is predicted to boost the effectivity of BitFuFu’s world hashrate community, reinforcing its dedication to delivering worth for purchasers and shareholders.

With this acquisition, BitFuFu broadens its presence within the Bitcoin mining sector by tapping into cost-effective vitality options and next-generation {hardware}.

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