BitFuFu secures an agreement with Bitmain, potentially acquiring 80,000 bitcoin mining devices.
In a significant move for the Bitcoin mining industry, BitFuFu, a publicly-listed company (Nasdaq ticker: FUFU), has announced a strategic partnership with Bitmain and the acquisition of a controlling stake in an 80 MW Bitcoin mining operation in Ethiopia. The announcements, made on January 2, 2025, have set the stage for BitFuFu's rapid expansion in the cloud mining sector.
At the heart of this expansion is BitFuFu's two-year deal with Bitmain, securing the supply of up to 80,000 S-series miners, including the latest generation models like the S21 XP and S21 Pro. This partnership underpins BitFuFu's cloud mining services and global mining capacity expansion.
BitFuFu's CEO, Leo Lu, has been instrumental in driving this growth. Under his leadership, the company's global mining facilities have seen significant expansion, with reported hashrates hitting record levels. As of July 2025, BitFuFu's hashrate surpassed 38.6 EH/s, a testament to the deployment of miners acquired through the Bitmain contract and ongoing infrastructure investment worldwide.
The Ethiopia mining operation, BitFuFu's first overseas facility, is expected to significantly increase its mining capacity and contribute to the company's goal of reaching 1 GW of mining power by the end of 2026. The deal, which involves flexible payment terms, is aimed at expanding BitFuFu's capacity for delivering top-notch, cost-effective Bitcoin mining solutions worldwide.
Based in Finland and aligned with stringent FIN-FSA and EU MiCA regulations, BitFuFu emphasizes transparency, security, and green energy integration to maintain investor confidence as it scales internationally. The company's commitment to sustainability is reflected in its renewable energy initiatives that support sustainable Bitcoin mining.
The Ethiopia mining operation acquisition, which was not disclosed in the announcement, is part of BitFuFu's strategy to increase its global footprint. In October, the company signed a definitive agreement for the acquisition, marking a significant step in its mission to become a leading player in the Bitcoin cloud mining industry.
In a related development, in October, Bitmain introduced two new models of its Antminer S21 series for Bitcoin mining. However, these models are not included in the deal with BitFuFu.
Following the announcement, BitFuFu's shares rose by 13.13%, reflecting investor confidence in the company's growth prospects. With its strategic partnership with Bitmain, regulatory compliance, and public capital, BitFuFu is well-positioned to maintain a top-tier position in the 2025 Bitcoin cloud mining industry.
- The strategic partnership between BitFuFu and Bitmain, coupled with the acquisition of a controlling stake in an 80 MW Bitcoin mining operation in Ethiopia, demonstrates BitFuFu's foray into the Defi-finance business, signifying a surge in technology-driven business expansion.
- With the acquisition of the Ethiopia mining operation, BitFuFu, a publicly-listed company based in Finland, aims to boost its business operations, contributing to the growth of its global mining capacity and its quest for becoming a leading player in the Bitcoin cloud mining industry.
