BitFuFu, a cloud mining platform, has entered an agreement with Bitmain to acquire 80,000 S-series mining rigs. This agreement, which includes the latest S21 XP and S21 Pro models, allows BitFuFu to adjust purchases according to market conditions, providing flexibility and opening up significant growth opportunities for its operations.

The financial structure of the deal enables BitFuFu to pay for the mining equipment with a combination of shares and deferred cash payments. This arrangement supports BitFuFu’s liquidity and growth objectives, allowing the company to enhance its-mining capabilities and expand its service offerings, including cloud mining and hosting services.

Following the announcement, BitFuFu’s stock initially saw a significant rise to 5.60 USD before settling at 5.42 USD. CEO Leo Lu emphasized the deal’s strategic importance for maintaining growth and operational efficiency. This partnership comes after BitFuFu’s acquisition of a Bitcoin mining facility in Ethiopia, further boosting its capacity and competitive edge in the industry.