Crypto mining agency BitFuFu has acquired a knowledge heart in Oklahoma for $20 million. In accordance with experiences, the NASDAQ-listed agency revealed that it has signed a definitive settlement, making it one of many majority homeowners of the operational Bitcoin mining knowledge heart.
In accordance with the report, BitFuFu priced the deal at $400,000 per megawatt, placing the entire worth of the 51 MW mining heart at $20.4 million. The corporate famous that the transaction was funded from the money in its stability sheet and customary inventory. The Oklahoma mining knowledge heart has been in operation since 2022, working via an air-cooled container-based infrastructure.
In its assertion, BitFuFu talked about that the ability additionally has a useful operations heart that can be utilized as a {hardware} restore heart. The corporate initially introduced plans to amass the ability in January however did not disclose particulars surrounding the situation and the vendor.
BitFuFu acquires knowledge heart in Oklahoma
In accordance with the corporate, the info heart web site nonetheless has out there house for additional enlargement. Nonetheless, it’s nonetheless topic to the completion of a transmission improve research by the utility firm and Southwest Energy Pool later this yr. In accordance with the CEO and chairman of BitFuFu Leo Lu, the transfer is consistent with the corporateās 1 GW international enlargement plans.
āThis acquired knowledge heart in Oklahoma has constructed a extremely environment friendly mining operation, and we’re excited to welcome them into the BitFuFu household. It permits us to increase our self-mining operations, improve internet hosting providers, and strengthen our cloud mining platform,ā he mentioned.
In accordance with the assertion on its platform, BitFuFu says it affords 556 MW of Bitcoin mining internet hosting capability, with its facilities unfold throughout totally different areas in america. The corporate additionally famous that it has one heart in Ethiopia and one other one in Paraguay. The corporate has additionally loved investments over time, with crypto mining {hardware} firm Bitmain as one among its buyers.
Trump issue comes into play amid international enlargement plans
The corporate, based in 2020, went public in 2024 after a SPAC merger with Arisz Acquisition Corp. BitFuFu has talked about that as a part of its objective to attain a 1 GW capability within the subsequent two years, it intends to maneuver from an asset-light technique to proudly owning its various and sturdy portfolio of Bitcoin mining infrastructure.
Final yr, the corporate introduced that it had signed a 10-year unique lease for 2 of its Bitcoin mining amenities in america. The amenities present a mixed 33 MW capability, with the lease settlement additionally opening the corporate as much as the choice of buying a serious stake in each amenities. On the time of the deal, the corporate talked about that the deal pushed it to 110 MW between websites it owned or operated. It added that the remainder had been hosted by third events.
The acquisition is coming at an ideal time when United States President Donald Trump is trying to give the crypto trade a good combat. Whereas the final administration was stuffed with majorly anti-crypto personalities, this new administration has birthed a brand new daybreak within the sector in America. Most corporations are eyeing a transfer to the nation because the trade continues to anticipate the consequences of Trumpās insurance policies for the sector to come back to actuality.
As well as, Bitcoin has additionally taken heart stage, with information a couple of federal reserve being within the works. Other than the federal Bitcoin reserve, states have been pushing for his or her crypto reserve, with Bitcoin having fun with all the eye. It stays to be seen the optimistic results that the Trump issue might have on the actions of corporations like BitFuFu which can be proper in the midst of the Bitcoin scenario.
