BitFuFu enters 10-year lease agreements for two Bitcoin mining facilities in U.S

BitFuFu (FUFU) announced it has entered into 10-year exclusive lease agreements for two Bitcoin mining facilities with a combined capacity of 33 megawatts in the U.S. The lease agreements grant BitFuFu the option to acquire a majority stake in both mining facilities. The lease of both mining facilities marks the next step in BitFuFu’s transition from an asset-light strategy to one that manages a diverse and robust portfolio of Bitcoin mining infrastructure. BitFuFu has set a target of adding 1 GW of capacity by the end of 2026. With the addition of the two mining facilities, BitFuFu is rapidly executing on this target with over 110 MW now residing in sites owned or operated by the company. The two mining facilities, with hosting capacity of 22 MW and 11 MW, respectively, will provide BitFuFu with the potential to add 2EH/s of mining capacity and power costs averaging as low as $0.042 per kilowatt-hour. The company has been managing self-mining and cloud-mining operations at these facilities for approximately one year and was highly satisfied with the consistent uptime, cost-effectiveness, and operational stability.