Bitmain, the famous Chinese hardware company for mining, has acquired BitFuFu with a two-year agreement in which it commits to providing up to a maximum of 80,000 miners. BitFuFu aims to obtain top-notch Bitcoin mining solutions.
Bitmain will provide the mining company BitFuFu with up to 80,000 miners in two years
BitFuFu, a company in the mining sector listed on NASDAQ with the ticker FUFU, has entered into a two-year agreement with the Chinese giant Bitmain for the supply of miners.
📣 We've signed a 2-year deal with BITMAIN to acquire up to 80,000 state-of-the-art miners. Flexible orders and payment terms help us expand capacity and deliver top-notch, cost-effective Bitcoin mining solutions worldwide. #BITMAIN #GlobalExpansion #BTC pic.twitter.com/OSMdXOp8fd
— BitFuFu (@BitFuFuOfficial) January 2, 2025
“We have signed a 2-year agreement with BITMAIN to acquire up to 80,000 state-of-the-art miners. Flexible orders and payment terms help us expand capacity and provide top-notch and cost-effective Bitcoin mining solutions worldwide.”
In practice, the biennial agreement involves Bitmain’s commitment to supply up to a maximum of 80,000 hardware units for the mining of digital assets to BitFuFu. Among others, the S series miners have been specified, such as the S21 XP and S21 Pro models.
The mining company based in Singapore, BitFuFu, will have the opportunity to place orders in batches, in order to provide mining services to its clients, such as the resale of miners or cloud mining and hosting services for miners.
Not only that, at the payment level, the agreement provides that BitFuFu can choose whether to pay partly in FUFU shares, or to defer part of the cash payments without interest after the delivery of the hardware.
Bitmain and BitFuFu: an agreement in mining of 80,000 miners in two years
BitFuFu remains pleased with the financial flexibility offered by Bitmain for the payment of its mining hardware.
On the contrary, the company claims that this ensures efficient management of cash flow and capital, while simultaneously supporting the company’s growth strategy. In fact, it seems that BitFuFu has set a goal to add 1 GW of capacity by the end of 2026.
In this regard, Leo Lu, President and CEO of BitFuFu commented:
“Our deep strategic partnership with BITMAIN ensures a steady supply of next-generation miners to rapidly expand our mining infrastructure globally, with the goal of adding 1 GW of capacity by the end of 2026. The new miners will be used to enhance both our self-mining operations and cloud-mining services, offering highly efficient solutions in terms of energy and cost. With the flexibility to purchase equipment in batches over the next two years based on operational demands, this agreement further strengthens our position as an industry leader.”
The expansion towards the USA
Bitmain continues to attract new clients globally. In addition to BitFuFu from Singapore, last month Bitmain had announced its intention to target the USA.
In fact, the famous Chinese ASIC company for Bitcoin had promised that the delivery of the first batch of its ANTMINER S21 Pro would take place by the end of the same month.
In this case, Bitmain’s decision to expand into the USA was not random, but strategic, aiming to provide faster response times and more efficient mining services for North American customers.
Not only that, with Trump as the leader of the country, Bitmain then chose the USA for their regulatory change in favor of Bitcoin and crypto.
