Company: FUFU
Filing Date: 2025-04-21
Form Type: 20-F
Source: 0001213900-25-033733
Chunk: 34

Company: Bitfufu Inc.
Filing Date: 2025-04-21
Form: 20-F
Item: Item 3
Chunk 34
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 we list,
regulatory investigations and civil or criminal sanctions. We may also be required to restate our financial statements from prior periods.

As a public company, we have
incurred and expect to continue to incur significant legal, accounting and other expenses. For example, as a public company, we need to
meet the applicable requirement of Nasdaq for independent directors and adopt policies regarding internal controls and disclosure controls
and procedures. Operating as a public company may make it more difficult and more expensive for us to obtain director and officer liability
insurance, and we may be required to accept reduced policy limits and coverage or incur substantially higher costs to obtain the same
or similar coverage. In addition, we incur additional costs associated with our public company reporting requirements. It may also be
more difficult for us to find qualified persons to serve on our board of directors or as executive officers.

After we are no longer an
“emerging growth company,” we may incur significant expenses and devote substantial management effort toward ensuring compliance
with the requirements of Section 404 and the other rules and regulations of the SEC.

Losses relating to our business may be uninsured,
or insurance may be limited.

Our business is subject to
hazards and risks normally associated with the daily operations of the mining digital assets, including the loss of digital assets and
miners. Currently, other than general third-party liability insurance and insurance coverage for our miners, we do not maintain any
other insurance policies for our business, or the assets and other properties utilized in our business operations. As such, our current
lack of insurance protection may result in interruption of our operations, subject us to significant losses or liabilities and damage
our reputation. Additionally, it may not be possible, either because of a lack of available policies, limits on coverage or prohibitive
cost, for us to obtain insurance of any type that would cover losses associated with our operations and digital asset portfolio. In general,
we anticipate that certain losses related to our business will be uninsurable, or the cost of insuring against these losses will not be
economically justifiable. If an uninsured loss occurs or a loss exceeds policy limits, it could have a material adverse effect on our
business, financial condition and results of operations.

Our operations and those of our business
partners and customers are vulnerable to natural disasters, geopolitical tensions, and other events beyond our control, the occurrence
of which may have an adverse effect on our business, results of operations and financial condition.

Our business operations and
those of