{
}
BitFuFu has secured a two-year agreement with Bitmain to acquire up to 80,000 S-series Bitcoin mining rigs, including the latest S21 XP and S21 Pro models. This strategic partnership aims to enhance BitFuFu's self-mining and cloud mining operations, targeting an additional 1 GW of capacity by 2026. The deal allows for flexible payments, including part in shares and deferred cash payments, ensuring liquidity while supporting growth.
BitFuFu's shares rose 13% to $5.60 following a two-year agreement with Bitmain to purchase up to 80,000 Bitcoin miners, including the advanced S21 XP and S21 Pro models. This partnership aims to enhance BitFuFu's mining infrastructure, targeting an additional 1 gigawatt capacity by 2026. The firm currently manages 26.2 EH/s hashrate and holds 1,664 BTC valued at approximately $161 million.
Bitcoin has surged 113% in 2024, yet most mining stocks have struggled, with many ending the year in the red, some down as much as 84%. Miners faced challenges from reduced rewards following the April halving, increased operational costs, and rising mining difficulty, prompting many to seek capital through stock offerings and diversify into sectors like AI. Notably, Core Scientific's partnership with CoreWeave aims to generate significant revenue from AI computing power.
Jetking Infotrain has become the first publicly listed company in India to hold Bitcoin, acquiring 12 BTC valued at approximately $1.2 million, which constitutes over 26% of its market capitalization of $4.5 million. CEO Avinash Bharwani emphasized the company's strategy to integrate Bitcoin into its treasury for long-term growth while engaging with regulators for compliance. This move reflects a broader trend of increasing institutional interest in cryptocurrency, as companies globally diversify their treasury assets amid changing economic conditions.
Bitcoin miner BitFuFu reported holding 1,643 BTC as of November 2024, alongside a self-mining output of 84 BTC for the month. The company's performance highlights its ongoing operations in the cryptocurrency mining sector.
BitFuFu Inc.
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
BitFuFu signs two-year deal with Bitmain for 80000 mining rigs
20:19 05.01.2025
bitfufu shares rise after agreement to purchase 80000 bitcoin miners
05:46 03.01.2025
bitcoin mining stocks struggle despite cryptocurrency surge in 2024
BitFuFu Inc.
MARA Holdings, Inc.
TeraWulf Inc.
Argo Blockchain plc
Sphere 3D Corp.
NORTHERN DATA
Core Scientific, Inc.
Hive USD
Iris Energy Ltd
CIPHER-CORE, Inc.
Bitfarms Ltd.
Hut 8 Corp.
Show more
19:18 24.12.2024
India's first public company Jetking Infotrain adds Bitcoin to treasury reserves
Metaplanet Inc. R
Riot Platforms, Inc.
Bitcoin Group SE
MicroStrategy Inc
Jetking Infotrain Limited
BitFuFu Inc.
Boyaa Interactive International Ltd
IND
CHN
Max Keiser
Avinash Bharwani
Show more
12:41 10.12.2024
BitFuFu reports 1643 BTC holdings and 84 BTC mining output for November
12:00 06.12.2024
Trending
Subcategory
Industry Trends
Corporate News
Startups & Entrepreneurship
Global Trade Developments
Retail and Consumer Goods
Stock Market Updates
Supply Chain Management
Government Economic Policies
Fintech Startups
Industry Mergers & Acquisitions
Private Equity Deals
Venture Capital Investments
CEO Changes
AI Applications
Funding Rounds & Investments
Economic Indicators
Emerging Startups
Corporate Social Responsibility
Inflation and Monetary Impact
Finance Mergers & Acquisitions
Countries:
Companies:
Apple Inc.
Grab2Go AS
Google Inc.
OLA ELECTRIC MOBILITY LTD
NVIDIA Corp
Amazon.com, Inc.
Microsoft Corporation
EFG Hermes Egypt
Broadcom Inc.
The Goldman Sachs Group, Inc.
JPMorgan Chase & Co.
XIAOMI-W
Tesla, Inc.
LG CNS
Delhivery Limited
Ecom Express Ltd.
Scripbox.COM India Ltd.
SK hynix Inc.
Tesmec S.p.A.
OpenAI ERC USD
Currencies:
United States Dollar
Indian Rupee
Chinese Yuan
Japanese Yen
Euro
United Arab Emirates Dirham
South Korean Won
Pakistani Rupee
Egyptian Pound
Saudi Riyal
Brazilian Real
Qatari Riyal
Indonesian Rupiah
Vietnamese Đồng
Hong Kong Dollar
Offshore Chinese Yuan
Canadian Dollar
Malaysian Ringgit
Swiss Franc
New Zealand Dollar
People: