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- BitFuFu signs a two-year contract with BITMAIN to purchase 80,000 S-series Bitcoin mining machines for expansion.
- The Ethiopian mining facility will enhance BitFuFu’s global hosting capacity above 600MW, strengthening the infrastructure.
BitFuFu has signed a two-year framework agreement with BITMAIN, a leading manufacturer of digital asset mining hardware. Including advanced variants such as the S21 XP and S21 Pro, the agreement details BitFuFu’s intention to purchase up to 80,000 S-series Bitcoin mining machines.
Supporting a standalone mining company, BitFuFu, as well as a range of customer-facing services such as miner reselling, cloud mining and hosting, these miners will be very vital.
BitFuFu: Innovative Financial Strategy Drives Ambitious Expansion Goals
The financial structure of this arrangement sets it apart because it allows flexibility in the payment term. BitFuFu can postpone payment in cash, interest-free, until the delivery of the machines and pay part of the purchase money in company shares.
This structure emphasizes the company’s desire to effectively control its cash flow while pursuing ambitious development strategies. BitFuFu is looking to leverage this relationship over the next two years to significantly increase its operational presence.
BitFuFu has also set lofty goals for increasing its worldwide mining capabilities. CEO Leo Lu claims that by the end of 2026, the company wants to add one gigawatt of mining capacity. With its modern technologies that put energy efficiency and economy first, the recently acquired equipment should significantly help in achieving this goal.
In addition to this latest achievement, of BitFuFu the strategic expansion into Africa further underlines its commitment to increase its activities. The company just bought a majority stake in an 80 megawatt Ethiopian Bitcoin mining project.
Equipped with the latest Bitmain S21 series miners, this facility is expected to add a capacity of 4.6 exahashes per second (EH/s). The Ethiopian plant aims to drastically reduce the cost of each Bitcoin mined since electricity costs average less than $0.04 per kilowatt-hour, guaranteeing better profitability.
Previously, CNF reported that BitFuFu’s acquisition in Ethiopia will increase its hosting capacity beyond 600 megawatts, confirming its worldwide infrastructure.
