● 1,643 BTC held in November 2024, 84 BTC generated through self-mining operations
● Net cash as of November 30, 2024 was USD 98 million.
● Targeting 1 GW of additional capacity by the end of 2026
SINGAPORE, Dec. 6, 2024 (GLOBE NEWSWIRE) — BitFuFu Inc. (“BitFuFu” or the “Company”) (NASDAQ: FUFU), a global leader in Bitcoin mining and comprehensive mining services, announced today that Announced unaudited production and mining operations. Updated November 2024.
Starting in December 2024, BitFuFu will begin publishing regular monthly updates to investors and the public, and plans to gradually expand its monthly disclosures to include additional data.
BTC held: 1,643 BTC1 (as of November 30, 2024)
BTC produced: 84 BTC produced by self-mining operations in November 2024
Acquisition and activation of new miners: In November 2024, the self-mining fleet grew by 13,300 miners, or a total of 2.4EH/s. This includes:
– 7,300 S19 XP miners were purchased in October 2024 and commissioned in November 2024. This corresponds to approximately 1 EH/s of mining power.
– Purchased 2,000 S21 XP miners in November 2024, scheduled to be energized in the first quarter of 2025, equivalent to approximately 0.54 EH/s of mining capacity.
– 4,000 S21+ miners pre-ordered in November 2024, equivalent to approximately 0.86 EH/s of mining capacity
Power project pipeline: BitFuFu is currently evaluating approximately 700 MW2 of potential projects and has set a goal of adding 1 GW of capacity by the end of 2026.
Liquidity updates:
– Net cash as of November 303, 2024: USD 98 million
– Secured a USD 100 million financing facility from Antpool Technologies at a fixed interest rate of 6.5%. The withdrawn funds will be used to increase our BTC holdings and fund the expansion of our self-mining operations. As of November 30, 2024, $25 million has been canceled.
Leo Lu, Chairman and CEO of BitFuFu, commented: come. Although we are only at the beginning of our growth journey, we remain very optimistic about the future and our ability to increase shareholder value. ”
1 Includes 498 BTC pledged as accounts payable for loans and miner procurements and excludes BTC generated by cloud mining customers.
2 Power projects under evaluation or negotiation to ensure long-term operational management, excluding recently acquired 80 MW mining facility in Ethiopia.
3 Net cash of $98 million is the total amount of digital assets, cash and cash equivalents, and short-term deposits held by the Company in US dollar value as of November 30, 2024, less loans and long-term interest-bearing debt. is reflected.
About BitFuFu Co., Ltd.
BitFuFu Inc. is a global leader in Bitcoin mining and comprehensive mining services, providing customers with one-stop solutions, including cloud mining. BitFuFu received an initial investment from BITMAIN, one of the world's leading digital asset mining hardware manufacturers, and continues to be a strategic partner of BITMAIN in the Bitcoin mining and mining services space.
BitFuFu is dedicated to cultivating a secure, compliant, and transparent blockchain infrastructure, providing stable and intelligent digital asset mining solutions to a global customer base. BitFuFu leverages its expanding global mining facility network and strategic partnership with BITMAIN to enable institutional customers and digital asset enthusiasts to efficiently mine digital assets.
For more information, please visit https://ir.bitfufu.com/.
Forward-looking statements
This Investor Update press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of terms such as “estimates” and similar terms. Words that predict or indicate future events or trends, such as “plan,” “project,” “predict,” “intend,” “schedule,” “expect,” “anticipate,” “believe,” “seek,” “target,” etc. expression. Statements that are not historical facts, including statements regarding our beliefs and expectations, are forward-looking statements. These statements are based on various assumptions and the current expectations of BitFuFu management, whether or not identified in this press release, and are not predictive of actual performance. These statements involve risks, uncertainties and risks that could cause BitFuFu's actual results, level of activity, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Other factors are included. Although the Company believes that there is a reasonable basis for each forward-looking statement contained in this press release, such statements are based on a combination of currently known facts and factors and future expectations. , warns of inherent uncertainty. . All information provided in this press release is as of the date of this press release, and we undertake no obligation to update such information except as required by applicable law.
For investor and media inquiries, please contact:
BitFuFu Investor Information
charlie brady
Vice President of Investor Relations
ir@bitfufu.com
BitFuFu Media Relations
pr@bitfufu.com
