BitFuFu acquires 51 MW operational data center in Oklahoma

BitFuFu (FUFU) has signed a definitive agreement and acquired a majority ownership in a 51 MW operational Bitcoin mining data center in Oklahoma. The transaction, priced at $400K per MW, is funded with cash from BitFuFu’s balance sheet and common stock. Located in Oklahoma, the acquired data center has been operational since 2022. The facility boasts a track record of over 95% uptime and operates with a net electricity cost of approximately 3c/kWh. This will enable BitFuFu to mine one Bitcoin at a cash cost as low as $18K at this site, assuming the deployment of AntMiner S21 XP, excluding depreciation of miners and facilities. BitFuFu plans to deploy AntMiner S21 series or higher efficiency version of miners at this site, which will increase its total managed hashrate scale by over 3EH/s. The site has sufficient land for further expansion, pending the completion of a transmission upgradation study by the utility company and SPP in mid-2025.