Singapore-based BitFuFu has signed a two-year agreement with Bitmain to purchase up to 80,000 Bitcoin miners, strengthening its market position in cryptocurrency mining.
Agreement Details
On January 2, BitFuFu announced that the deal would enable it to purchase the latest Bitmain S-series miners, including the high hash rate S21 XP and S21 Pro models, in batches with flexible payment terms, including partial payment in BitFuFu shares.
BitFuFu's Expansion Plans
The company plans to add 1 gigawatt in capacity by the end of 2026. Currently, BitFuFu operates with a hosting capacity of 556 megawatts and 26.2 EH/s (exahashes per second). It has 17 mining farms worldwide, mostly in the United States, and boasts more than 450,000 registered users. In October 2024, the company acquired an 80-megawatt mining facility in Ethiopia.
Bitmain's Strategy in the American Market
In December, Bitmain revealed that it expanded its production line to the United States to improve supply chain efficiency and provide better services to North American customers amid escalating trade tensions between the US and China.
The agreement with Bitmain allows BitFuFu to significantly strengthen its position in the global cryptocurrency mining market, while Bitmain adapts to changing conditions in the US market.
