Company: FUFU
Filing Date: 2025-11-07
Form Type: F-3
Source: 0001213900-25-107483
Chunk: 45

Company: Bitfufu Inc.
Filing Date: 2025-11-07
Form: F-3
Chunk 45
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 quickly, we use liquid assets and cash may influence whether we or any of our subsidiaries is treated
as PFIC. We do not believe that we were a PFIC for the taxable year ended December 31, 2024. However, for the taxable year ending December
31, 2025 and for future taxable years, there can be no assurance that we or any of our subsidiaries will not be treated as a PFIC for
any such taxable year. Moreover, we do not expect to provide a PFIC annual information statement for 2025 or going forward, which will
preclude U.S. Holders from making or maintaining a “qualified electing fund” election under section 1295 of the Code.

If we were determined to
be a PFIC for any taxable year (or portion thereof) that is included in the holding period of a U.S. Holder of Class A Ordinary
Shares and, in the case of Class A Ordinary Shares, the U.S. Holder did not make a valid “mark-to-market” election,
such U.S. Holder generally will be subject to special rules with respect to: (i) any gain recognized by the U.S. Holder
on the sale or other disposition of Class A Ordinary Shares and (ii) any “excess distribution” made to the U.S. Holder
(generally, any distributions to such U.S. Holder during a taxable year of the U.S. Holder that are greater than 125% of the
average annual distributions received by such U.S. Holder in respect of the Class A Ordinary Shares during the three preceding
taxable years of such U.S. Holder or, if shorter, such U.S. Holder’s holding period for such ordinary shares).

Under these rules:

| ● | the U.S. Holder’s gain or excess distribution will be allocated ratably over the U.S. Holder’s holding period for Class A Ordinary Shares; |

| ● | the amount allocated to the U.S. Holder’s taxable year in which the U.S. holder recognized gain or received the excess distribution, or to the period in the U.S. Holder’s holding period before the first day of our first taxable year in which we are a PFIC, will be taxed as ordinary income; |

| ● | the amount allocated to other taxable years (or portions thereof) of the U.S. Holder and included in its holding period will be taxed at the highest tax rate in effect for that year and applicable to the U.S. Holder; and |

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