Crypto mining agency BitFuFu has acquired a knowledge middle 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 house owners of the operational Bitcoin mining information middle.
In accordance with the report, BitFuFu priced the deal at $400,000 per megawatt, placing the whole worth of the 51 MW mining middle 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 information middle has been in operation since 2022, working by way of an air-cooled container-based infrastructure.
In its assertion, BitFuFu talked about that the power additionally has a useful operations middle that can be utilized as a {hardware} restore middle. The corporate initially introduced plans to accumulate the power in January however did not disclose particulars surrounding the placement and the vendor.
BitFuFu acquires information middle in Oklahoma
In accordance with the corporate, the information middle web site nonetheless has accessible area for additional growth. 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 in step with the corporate’s 1 GW world growth plans.
“This acquired information middle 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 companies, and strengthen our cloud mining platform,” he stated.
In accordance with the assertion on its platform, BitFuFu says it gives 556 MW of Bitcoin mining internet hosting capability, with its facilities unfold throughout completely different places in america. The corporate additionally famous that it has one middle 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 among its buyers.
Trump issue comes into play amid world 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 realize a 1 GW capability within the subsequent two years, it intends to maneuver from an asset-light technique to proudly owning its numerous and strong 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 america. The services 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 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 remaining 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 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 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 middle stage, with information a few federal reserve being within the works. Except for 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 constructive results that the Trump issue might have on the actions of corporations like BitFuFu which are proper in the course of the Bitcoin scenario.
