BitFuFu is no longer exclusively a cloud miner as it transitions to a more resilient portfolio.
Cloud Bitcoin miner BitFuFu has acquired its first brick-and-mortar mining facility. The company is calling the acquisition of an 80-megawatt (MW) facility in Ethiopia the start of its infrastructure diversification. The value of the deal was not disclosed.
Nasdaq-listed, Singapore-based BitFuFu had 25 mining facilities as of June 30, all of which were hosted by third parties and the majority of which were located in the United States. Other facilities are located in Portugal and Indonesia.
The company will boost its capacity from 522 MW to over 600 MW with the new facility, which it intends to upgrade. The deployment of Bitmain S21 application-specific integrated circuit (ASIC) miners will potentially add 4.6 EH/s to its mining capacity.
