Nasdaq-listed cloud mining services company Bitfufu has announced an agreement to acquire a majority stake in an 80-megawatt (MW) Bitcoin mining facility in Ethiopia. This strategic move marks a significant shift for the company as it transitions from an asset-light strategy to managing a diverse portfolio of Bitcoin mining infrastructure. With this acquisition, Bitfufu’s hosting capacity will exceed 600 MW, with approximately 13% of that capacity coming from sites owned and operated by the company. The new facility is expected to add 4.6 EH/s of mining capacity using the latest Bitmain S21-series miners, while benefiting from low power costs averaging below US$0.04 per kilowatt-hour, thereby reducing the cost per bitcoin mined. CEO Leo Lu emphasized that this acquisition is a critical milestone in Bitfufu’s efforts to vertically integrate and enhance its global presence, while also creating valuable employment opportunities for the local community.

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