BitFuFu to Acquire 80-MW Bitcoin Mining Facility in Ethiopia

🚀 We are thrilled to announce that we have entered into a definitive agreement to acquire a majority stake in an 80-megawatt Bitcoin mining facility in Ethiopia! This strategic move marks a pivotal shift in our approach, transitioning from an asset-light strategy to a robust portfolio of Bitcoin mining infrastructure.

🔋 Key Highlights of this acquisition:
Increased Hosting Capacity: The acquisition will elevate BitFuFu’s total hosting capacity to over 600 MW, enhancing operational scale.
Ownership Expansion: Approximately 13% of this capacity will be based in facilities owned and operated by BitFuFu, marking a shift from an asset-light strategy.
Enhanced Mining Capacity: The new facility has the potential to add 4.6 EH/s of mining capacity with the latest Bitmain S21-series miners.
Cost Efficiency: With power costs averaging below $0.04 per kilowatt-hour, the acquisition is expected to lower the cost per Bitcoin mined.
Global Market Strengthening: This move strengthens BitFuFu's competitive advantages in the international market, expanding its global footprint.
Local Economic Impact: The facility will create valuable employment opportunities, contributing positively to the local economy.
Vertical Integration: This acquisition represents a critical step towards a more diversified and resilient portfolio of mining assets, enhancing overall business strategy.

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