BitFuFu's stock rises 13% after signing agreement for 80,000 miners with Bitmain
The cloud mining company will purchase the latest Bitmain S-series mining machines, including the higher hash rate S21 XP and S21 Pro models.
Singapore-based cloud Bitcoin mining company BitFuFu has signed a two-year agreement with hardware mining giant Bitmain to purchase up to 80,000 Bitcoin miners.
On January 2, BitFuFu announced that this agreement would allow the company to purchase the latest Bitmain S-series mining machines, including the higher hash rate S21 XP and S21 Pro models, in batches with flexible payment terms, including partial payment in BitFuFu stock.
Leo Lu, Chairman and CEO of BitFuFu, said: "Our deep strategic partnership with Bitmain ensures a stable supply of the latest mining machines to rapidly expand our global cryptocurrency mining infrastructure with the goal of adding 1 gigawatt of capacity by the end of 2026."
He added: “The new miners will be used to support both self-mining operations and our cloud mining services, providing energy-efficient and cost-effective solutions.” BitFuFu received early investment from Bitmain in 2021 and remains a strategic partner in Bitcoin mining and mining services. #miners
