Mentioned:
One of the global leaders of cloud mining is making a new expansion into the United States of America.
What’s happening:
- BitFuFu (NASDAQ: FUFU) has entered into an agreement to buy the majority equity stake of a large scale Oklahoma based Bitcoin mining facility
By the numbers:
- The Oklahoma facility has 51 megawatts of total power capacity and sources power at approximately 0.03c per kilowatt hour
- BitFuFu has publicly stated that they expect the Oklahoma facility to be able to support 2.9 exahashes per second of hashrate using Bitmain’s Antminer S21 Pro hardware
Why it matters:
- BitFufu is one of the only publicly traded companies that has built deep operations around cloud mining, which enables users to participate in the upside of Bitcoin mining without the need for their own hardware or infrastructure
Going deeper:
- This is not the first acquisition BitFufu has made recently, previously announcing they were taking a majority equity stake in a Bitcoin mining operation located in Ethiopia
