Cloud mining platform BitFuFu has signed a two-year agreement with Bitmain to acquire up to 80,000 S-series mining rigs.
Agreement Details
The deal includes Bitmain's latest S21 XP and S21 Pro models, marking a major expansion for BitFuFu’s operations. According to the press release, the agreement allows BitFuFu to purchase miners in stages, offering flexibility to adjust to market conditions and operational needs.
Financial Structure of the Deal
BitFuFu can pay part of the purchase price in its own shares and defer a portion of cash payments interest-free until after the equipment is delivered. This arrangement is designed to maintain liquidity while advancing the company’s growth objectives.
Strategic Importance for BitFuFu
Leo Lu, Chairman and CEO of BitFuFu, commented that the strategic partnership with Bitmain will ensure a consistent supply of the latest miners to help the company grow its global mining operations and aim for an additional 1 GW of capacity by the end of 2026.
The new agreement with Bitmain reinforces BitFuFu's position as an industry leader and highlights its commitment to expanding its global operations.
