Company: FUFU
Filing Date: 2025-04-21
Form Type: 20-F
Source: 0001213900-25-033733
Chunk: 100

Company: Bitfufu Inc.
Filing Date: 2025-04-21
Form: 20-F
Item: Item 4
Chunk 100
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 respectively. During the same
periods, the average Bitcoin price was US$26,300, US$28,850 and US$65,960, respectively.

To provide cloud-mining services
to our customers, we deploy miners sourced from our suppliers or miners owned by ourselves, and further render these miners operational
and remotely accessible by procuring mining equipment hosting service, including data center rack space, electricity supply, network connectivity,
hardware maintenance, and other necessary infrastructure services from the same or other suppliers. We then repackage the services of
providing hash calculations using these miners, and integrate them with other critical services such as performance monitoring, hash rate
stabilization, and connection with mining pools. Thus, we create a one-stop mining capability that can be sold in the form of cloud-mining services.
We then sell cloud-mining services to our customers by transferring the control of the sub-divided hash calculations. For the
mining capacity procured by us that is not subscribed for by any customer, we may deploy it in our self-mining.

Our cloud-mining services
are user friendly and highly transparent to customers. Customer can register an account on our platform to purchase their desired type
of cloud-mining plans. Our cloud-mining plans are efficient in obtaining mining block rewards. Currently, it is becoming less likely
for individual miners with relatively low hash rate to successfully solve blockchain without pooling resources together with other miners
or operate within a mining pool, where miners can contribute their hash calculations to collectively solve a blockchain transaction. When
our customers subscribe for our cloud-mining services, they are simultaneously connected to a mining pool with greater mining capacity,
thus allowing them to pool hash calculations and mine more efficiently. As a result of pool of resources, customers are more likely to
beat other participants to generate a winning hash to earn a Bitcoin. While customers need not procure, transport, install, manage or
maintain the underlying mining hardware or software by themselves, they monitor the hash calculation procedure and output in real time
on our platform.

For our cloud-mining services,
customers may apply the mining capacity bought by them to a selection of mining pools, including AntPool and F2Pool, through our platform.
We could assist customers in applying mining capacity to other mining pools at customers’ election if it is technically feasible
and commercially reasonable. After a customer places an order for cloud-mining solutions with us, we help customer create a separate
account with the designated mining pool, and bind the customer