BitFuFu announces entry into LOI to acquire stake in Oklahoma mining facility

BitFuFu (FUFU) announced that it has signed a letter of intent, LOI, to acquire a majority stake in a 51-megawat Bitcoin mining facility in the State of Oklahoma, United States. Strategically located in an unpopulated area, the facility has completed construction of its power and mining infrastructure. Operating air-cooled Bitcoin miners, the facility has consistently delivered high levels of hashrate efficiency. The transaction, expected to close in the first half of 2025 if consummated, is structured as a majority equity acquisition. The proposed transaction is subject to a definitive agreement to be negotiated between the parties, conditioned upon further financial and legal due diligence, as well as other customary closing conditions. There is no assurance that any transaction will be concluded.