Bitcoin mining firm BitFuFu Inc. (FUFU) saw its stock surge over 9% recently following the announcement of a two-year framework agreement with Bitmain, the leading cryptocurrency mining hardware manufacturer. The deal includes 80,000 Antminer S units, featuring advanced S21 XP and S21 Pro models with superior hash rates.
The agreement allows BitFuFu to purchase the units in batches over two years, enabling the company to scale its operations strategically while remaining adaptable to market conditions. This marks a significant step in BitFuFu’s shift from an asset-light strategy to a hybrid infrastructure approach.
BitFuFu plans to deploy the miners to enhance its self-mining operations and cloud mining services. It targets expanding its global mining infrastructure by adding 1 gigawatt (GW) in capacity by 2026. In recent developments, BitFuFu revealed plans to expand its U.S. mining operations under a 10-year lease agreement. The company currently holds 1,664 Bitcoin in its treasury, valued at around $160 million.
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