Company: FUFU
Filing Date: 2025-04-21
Form Type: 20-F
Source: 0001213900-25-033733
Chunk: 80

Company: Bitfufu Inc.
Filing Date: 2025-04-21
Form: 20-F
Item: Item 3
Chunk 80
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 March 2022. The OECD has released additional administrative guidance on the global
minimum tax in February, July and December of 2023. Under the European Union’s minimum tax directive, unanimously agreed by the
member states in 2022, each member state is required to adopt domestic legislation implementing the minimum tax rules effective for periods
beginning on or after December 31, 2023, with the “under-taxed profit rule” to take effect for periods beginning on or after
December 31, 2024. Legislatures in multiple countries outside of the European Union (including United Arab Emirates (“ UAE”)
and Singapore, where we have subsidiaries) have also drafted and/or enacted legislation to implement the OECD’s minimum tax proposal.
Given the OECD’s continued release of guidance regarding Pillar II, that only certain jurisdictions have currently enacted laws
to give effect to Pillar II, and that jurisdictions may interpret such laws in different manners, the overall implementation of Pillar
II remains uncertain and subject to change, possibly on a retroactive basis. Additionally, under the agreement, new rules have been introduced
that will result in the reallocation of certain profits from large multinational companies to market jurisdictions where customers and
users are located. Implementation and enactment of these changes is ongoing. We will be monitoring the developments and tax implications
of these changes, which may have adverse tax consequences for us.

All statements contained herein
concerning U. S. federal income or other tax consequences are based on existing law and interpretations thereof. The tax regimes to
which we are subject or under which we operate, including income and non-income taxes, are unsettled and may be subject to significant
change. While some of these changes could be beneficial, others could negatively affect our after-tax returns. Accordingly, no assurance
can be given that the currently anticipated tax treatment will not be modified by legislative, judicial or administrative changes, possibly
with retroactive effect. In addition, no assurance can be given that any tax authority or court will agree with any particular interpretation
of the relevant laws.

We may be unable to maintain the listing
of our securities in the future.

If we fail to meet the continued
listing requirements and Nasdaq delists the Class A ordinary shares, we could face significant material adverse consequences, including:

  a limited availability of market quotations for the Class A ordinary shares;  

  a limited amount of news and analyst coverage for us; and  

  a decreased ability to issue additional securities or obtain additional financing in the future