Crypto mining agency BitFuFu has acquired an information heart in Oklahoma for $20 million. Based on experiences, the NASDAQ-listed agency revealed that it has signed a definitive settlement, making it one of many majority house owners of the operational Bitcoin mining knowledge heart.
Based on 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 steadiness sheet and customary inventory. The Oklahoma mining knowledge heart has been in operation since 2022, working by way of 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
Based on the corporate, the info heart website nonetheless has accessible area for additional growth. Nevertheless, it’s nonetheless topic to the completion of a transmission improve research by the utility firm and Southwest Energy Pool later this yr. Based on the CEO and chairman of BitFuFu Leo Lu, the transfer is consistent with the corporate’s 1 GW international growth plans.
“This 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 broaden our self-mining operations, improve internet hosting companies, and strengthen our cloud mining platform,” he stated.
Based on the assertion on its platform, BitFuFu says it provides 556 MW of Bitcoin mining internet hosting capability, with its facilities unfold throughout totally different areas in the US. The corporate additionally famous that it has one heart in Ethiopia and one other one in Paraguay. The corporate has additionally loved investments through the years, with crypto mining {hardware} firm Bitmain as one in all its traders.
Trump issue comes into play amid international growth 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 purpose to attain a 1 GW capability within the subsequent two years, it intends to maneuver from an asset-light technique to proudly owning its numerous 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 services in the US. The services present a mixed 33 MW capability, with the lease settlement additionally opening the corporate as much as the choice of buying a significant stake in each services. 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 have been hosted by third events.
The acquisition is coming at an ideal time when United States President Donald Trump is seeking to give the crypto business a good combat. Whereas the final administration was full of majorly anti-crypto personalities, this new administration has birthed a brand new daybreak within the sector in America. Most firms are eyeing a transfer to the nation because the business continues to anticipate the consequences of Trump’s 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. Apart from 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 companies like BitFuFu which might be proper in the course of the Bitcoin state of affairs.
