{"id":17987,"date":"2024-10-22T17:43:16","date_gmt":"2024-10-22T14:43:16","guid":{"rendered":"https:\/\/forklog.com\/en\/bitfufu-to-acquire-80-mw-bitcoin-mining-farm-in-ethiopia\/"},"modified":"2024-10-22T17:43:16","modified_gmt":"2024-10-22T14:43:16","slug":"bitfufu-to-acquire-80-mw-bitcoin-mining-farm-in-ethiopia","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitfufu-to-acquire-80-mw-bitcoin-mining-farm-in-ethiopia\/","title":{"rendered":"BitFuFu to Acquire 80 MW Bitcoin Mining Farm in Ethiopia"},"content":{"rendered":"<p>Cloud mining service provider BitFuFu has finalised an agreement to acquire a controlling stake in an 80 MW bitcoin mining facility in Ethiopia.<\/p>\n<p>According to a <a href=\"https:\/\/www.globenewswire.com\/news-release\/2024\/10\/22\/2966742\/0\/en\/BitFuFu-to-Acquire-80-MW-Bitcoin-Mining-Facility-in-Ethiopia.html\">press release<\/a>, the deal marks the company&#8217;s shift from managing small-scale assets to establishing its own mining infrastructure.<\/p>\n<p>As of 30 June 2024, BitFuFu had 522 MW of capacity hosted by third-party service providers.<\/p>\n<p>The acquisition in the African nation will increase the firm&#8217;s total capacity to over 600 MW, with 13% located at a site owned and controlled by the company.<\/p>\n<p>The new mining facility will enable BitFuFu to add to its 4.6 EH\/s hashrate by deploying Bitmain&#8217;s Antminer S21 series. With an average electricity cost of less than $0.04 per kWh, this is expected to reduce the cost of bitcoin production.<\/p>\n<p>The company also noted that the majority of its capacity is based in the United States, so the deal will enhance geographical diversification and strengthen competitive advantages.<\/p>\n<p>Back in March, BitFuFu <a href=\"https:\/\/u1f987.com\/en\/news\/bitfufu-lists-on-nasdaq-via-spac-merger\">listed<\/a> on Nasdaq through a reverse merger with <span data-descr=\"special-purpose acquisition company, \u0441\u043f\u0435\u0446\u0438\u0430\u043b\u0438\u0437\u0438\u0440\u043e\u0432\u0430\u043d\u043d\u0430\u044f \u043a\u043e\u043c\u043f\u0430\u043d\u0438\u044f \u043f\u043e \u0446\u0435\u043b\u0435\u0432\u044b\u043c \u0441\u043b\u0438\u044f\u043d\u0438\u044f\u043c \u0438 \u043f\u043e\u0433\u043b\u043e\u0449\u0435\u043d\u0438\u044f\u043c\" class=\"old_tooltip\">SPAC<\/span> Arisz Acquisition Corp.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cloud mining service provider BitFuFu has finalised an agreement to acquire a controlling stake in an 80 MW bitcoin mining facility in Ethiopia. According to a press release, the deal marks the company&#8217;s shift from managing small-scale assets to establishing its own mining infrastructure. As of 30 June 2024, BitFuFu had 522 MW of capacity [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17986,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[284,1137],"class_list":["post-17987","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-africa","tag-cryptocurrency-mining"],"aioseo_notices":[],"amp_enabled":true,"views":"33","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/17987","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=17987"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/17987\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/17986"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=17987"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=17987"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=17987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}