• BitFuFu signs a two-year agreement with BITMAIN to acquire 80,000 S-series Bitcoin mining machines for expansion.
  • The mining facility in Ethiopia will increase BitFuFu’s global hosting capacity to over 600 MW, boosting 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 BitFuFu’s self-operated mining business, as well as its range of customer-centric services such as mining resales, cloud mining and hosting, these miners will be very vital.

BitFuFu: Innovative financial strategy drives ambitious expansion goals

The financial structure of this agreement is distinguished by the fact that it provides flexibility in payment terms. BitFuFu can defer cash payments, interest-free, until the machines are delivered and pay part of the purchase money in company shares.

This structure underlines the company’s desire to effectively control its cash flow while pursuing ambitious development strategies. BitFuFu intends to use this relationship over the next two years to considerably increase its operational presence.

BitFuFu has also set high goals for increasing its mining capacity worldwide. CEO Leo Lu says that by the end of 2026, the company aims to add one gigawatt of mining capacity. With its modern technologies that prioritize energy efficiency and cost-effectiveness, the recently acquired equipment should significantly help achieve this goal.

In addition to this latest achievement, BitFuFu’s strategic expansion into Africa further underlines its dedication to expanding its activities. The company has just acquired a majority stake in an 80-megawatt Ethiopian Bitcoin mining project.

Equipped with the latest Bitmain S21 series miners, the facility is expected to add 4.6 exahashes per second (EH/s) of capacity. The Ethiopian facility is intended to drastically reduce the cost of each Bitcoin mined, as electricity expenses are on average less than $0.04 per kilowatt-hour, thus ensuring better profitability.

Previously, CNF reported that the purchase of BitFuFu in Ethiopia will increase its hosting capacity above 600 megawatts, thus confirming its worldwide infrastructure.