TechFlow news — On January 17, Bitcoin mining service provider BitFuFu (Nasdaq: FUFU) announced on January 16 the signing of a letter of intent to acquire a majority stake in a 51MW Bitcoin mining facility located in Oklahoma, USA. Situated in a remote area, the facility has completed its power and mining infrastructure development, with electricity costs at approximately $0.03 per kWh, utilizing efficient air-cooled Bitcoin miners.
Leo Lu, Chairman and CEO of BitFuFu, stated that this acquisition marks a key step in the company's North American expansion strategy and its global plan to build 1GW of power capacity. The transaction is expected to be completed in the first half of 2025, subject to due diligence and other customary closing conditions.
