Company: FUFU
Filing Date: 2025-05-22
Form Type: CORRESP
Source: 0001213900-25-046616
Chunk: 2

Company: Bitfufu Inc.
Filing Date: 2025-05-22
Form: CORRESP
Chunk 2
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 the periods from mid-March to mid-April 2024,
from mid-June to early September 2024 and from mid-November to the end of first quarter of 2025, we almost suspended bitcoin selling.

Further, we respectfully propose to revise the referenced disclosure
as follows (page reference is made to the 2024 Form 20-F to illustrate the approximate location of the disclosure) in our future Form
20-F filings (with additions underlined), subject to updates and adjustments to be made in connection with any material development of
the subject matter being disclosed:

Page 82:

……

Page F-12:

The Company primarily holds digital assets, ,
for long-term price appreciation and plans to sell them to support operations as needed. Purchases and sales
of digital assets for fiat currency are classified as investing activities in the Company’s consolidated cash flow statements.

<div align='center'>2</div>

Revenue recognition

Cloud mining solutions, page F-16

| 2. | We                                                                                                                                           
 note your disclosure in the second bullet on page F-17 that you act as principal and record the sale of cloud-mining services gross,         
 yet we note no indication in the description of costs of revenue on page F-20 that your costs include the portion of bitcoin mined and       
 distributed to your customer. Please clarify for us whether you are principal in the sales of hash calculations to the mining pool. If       
 so, tell us the basis for your accounting. If not, represent to us that in future filings, you will revise your disclosure to clarify        
 that the principal relationship you previously discuss results in the gross up of your mining equipment costs and that you will specifically 
 address the relationship between your customer and the mining pools they select.                                                             |

In response to the Staff’s comment, we respectfully
clarify that, in our cloud mining business, we do not sell hash calculation services to mining pools. Instead, we sell hash calculation
services to our customers and generate revenue from the service fees the customers pay to us over the period of the contract. Our customers
use the hash rate they purchased from us, connect the purchased hash rate to their designated mining pools and in return, earn their own
revenue in the form of bitcoin rewards from these mining pools. We help customers connect and deliver the purchased hash rate to designated
mining pools, and the control of this purchased hash rate is transferred to the customer at the same time of consumption. The mining pool
operator distributes bitcoin outputs directly to the customer’s