On January 2, BitFuFu, a cloud-based Bitcoin
$97,692.26
mining firm from Singapore, introduced the acquisition of as much as 80,000 Bitcoin miners from mining {hardware} supplier Bitmain.
This two-year deal contains Bitmain’s newest S21 Professional fashions and S21 XP, which promise environment friendly and cost-effective efficiency. Funds for the gear had been made in batches, with some prices lined by means of BitFuFu shares.
BitFuFu goals to extend its mining capability by 1 gigawatt by 2026 to assist its mining tasks and cloud-mining companies.
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BitFuFu has been a strategic associate of Bitmain since 2021, with its operations spanning 17 mining services worldwide, primarily in america.
The corporate at the moment manages a internet hosting capability of 556 megawatts and a hashrate of 26.2 exahashes per second (EH/s). Moreover, its platform has over 450,000 registered customers.
BitFuFu chairman and CEO, Leo Lu, defined that this partnership ensures a gradual stream of superior mining {hardware}, which permits the agency to broaden its operations.
In October 2024, BitFuFu acquired its first bodily mining website, an 80-megawatt facility in Ethiopia, to diversify its infrastructure.
In the meantime, Bitmain not too long ago expanded its manufacturing capabilities to america to streamline its provide chain. The corporate famous that this may allow quicker service and assist for its North American prospects.
One other Bitcoin mining firm, Hive Digital Applied sciences, not too long ago introduced plans to relocate its headquarters to Texas. Why? Learn the total story.
Having accomplished a Grasp’s diploma in Economics, Politics, and Cultures of the East Asia area, Aaron has written scientific papers analyzing the variations between Western and Collective types of capitalism within the post-World Warfare II period.With near a decade of expertise within the FinTech business, Aaron understands all the largest points and struggles that crypto lovers face. He’s a passionate analyst who is anxious with data-driven and fact-based content material, in addition to that which speaks to each Web3 natives and business newcomers.Aaron is the go-to particular person for every little thing and something associated to digital currencies. With an enormous ardour for blockchain & Web3 training, Aaron strives to rework the area as we all know it, and make it extra approachable to finish rookies.Aaron has been quoted by a number of established shops, and is a broadcast creator himself. Even throughout his free time, he enjoys researching the market tendencies, and on the lookout for the following supernova.
