On January 2, BitFuFu, a cloud-based Bitcoin
$97,910.17
mining firm from Singapore, introduced the acquisition of as much as 80,000 Bitcoin miners from mining {hardware} supplier Bitmain.
This two-year deal contains Bitmain’s newest S21 Professional fashions and S21 XP, which promise environment friendly and cost-effective efficiency. Funds for the tools have been made in batches, with some prices lined via BitFuFu shares.
BitFuFu goals to extend its mining capability by 1 gigawatt by 2026 to help its mining initiatives and cloud-mining companies.
Do you know?
Subscribe – We publish new crypto explainer movies each week!
What’s Curve Finance in Crypto? (Animated Clarification)
BitFuFu has been a strategic accomplice of Bitmain since 2021, with its operations spanning 17 mining services worldwide, primarily in the US.
The corporate presently manages a internet hosting capability of 556 megawatts and a hashrate of 26.2 exahashes per second (EH/s). Moreover, its platform has over 450,000 registered customers.
BitFuFu chairman and CEO, Leo Lu, defined that this partnership ensures a gentle move of superior mining {hardware}, which permits the agency to develop its operations.
In October 2024, BitFuFu acquired its first bodily mining website, an 80-megawatt facility in Ethiopia, to diversify its infrastructure.
In the meantime, Bitmain just lately expanded its manufacturing capabilities to the US to streamline its provide chain. The corporate famous that this may allow sooner service and help for its North American clients.
One other Bitcoin mining firm, Hive Digital Applied sciences, just lately introduced plans to relocate its headquarters to Texas. Why? Learn the complete story.
Having accomplished a Grasp’s diploma in Economics, Politics, and Cultures of the East Asia area, Aaron has written scientific papers analyzing the variations between Western and Collective types of capitalism within the post-World Battle II period.With near a decade of expertise within the FinTech trade, Aaron understands all the greatest points and struggles that crypto fans face. He’s a passionate analyst who is worried with data-driven and fact-based content material, in addition to that which speaks to each Web3 natives and trade newcomers.Aaron is the go-to particular person for all the pieces and something associated to digital currencies. With an enormous ardour for blockchain & Web3 schooling, Aaron strives to rework the house as we all know it, and make it extra approachable to finish newbies.Aaron has been quoted by a number of established shops, and is a printed creator himself. Even throughout his free time, he enjoys researching the market tendencies, and on the lookout for the following supernova.
