BitFuFu Inc. operates Nasdaq-listed Hashrate in the Bitcoin mining sector. It just signed a two-year milestone agreement with BITMAIN, one of the world’s major digital asset mining hardware manufacturers. As part of the deal, BitFuFu is entitled to purchase up to 80,000 units of BITMAIN’s flagship series miners, which include the advanced S21 XP and S21 Pro versions.
https://twitter.com/BitFuFuOfficial/status/1874811184270147973?ref_src=twsrc%5Etfw
This also gives immense leeway to BitFuFu: The firm will be able to place orders in batches over two years, with partial payment in company shares. The agreement would involve a basic structure of payment deferrals that will be interest-free when the miners are delivered.
According to Leo Lu, CEO of BitFuFu, its deep strategic partnership with BITMAIN secures consistent delivery of the most advanced miners to aggressively scale up mining infrastructure globally, targeting an additional 1 GW capacity before the end of 2026.
BitFuFu Pool Targets Institutional And Retail Miners
In December 2024, BitFuFu launched BitFuFu Pool, a private-label Bitcoin mining pool. Most of its services are for the greater institutional and retail miners searching for cheaper options, aside from highly competitive commission rates that can get as low as 0.4%.
https://twitter.com/cryptonews/status/1865040755347407078?ref_src=twsrc%5Etfw
According to its latest operations update, it mined 84 BTC in November this year at a mining capacity of 2.4 EH/s from self-mining. At present, BitFuFu has 1,664 BTC, reflecting disciplined treasury management and supporting the long-term pursuit of financial sustainability.
Meanwhile, Beijing-based BITMAIN has been in the news over strategic announcements to make life easier on every continent. Now, it wants to increase production in the United States of America to boost supply chains and ramp up its efficiency in the wake of ongoing trade tension between these two powerful countries.
⛏️ Bitmain has announced the expansion of its production operations to the United States to improve supply chain efficiency.#Bitcoin #Mininghttps://t.co/Bgq1u9ROqK
— Cryptonews.com (@cryptonews) December 10, 2024
This cooperation also underlines how important BitFuFu will play in furthering BITMAIN’s commitment to continuous adaptation and large-scale mining, with geopolitical changes characterizing global trade and technological access.
The expansion could only hint at either consolidation or strategic fit that will raise the stakes in Bitcoin mining, where BitFuFu and BITMAIN go hard to establish control. Besides, BitFuFu’s aggressive push to scale is representative of a segment that, with ever-increasing competitiveness, sees companies jostling for market share in this new emerging world of cryptocurrency mining.
The recently announced plan for capacity expansion to 1 GW by 2026 and purchasing new, advanced-level mining hardware makes BitFuFu one of the most prominent global Bitcoin mining ecosystem leaders. Meanwhile, further underlined by moves to increase its production footprint, evidence shows resilience in the sector after various geopolitical and regulatory blows have been dealt to it from various sides.
