Company: FUFU
Filing Date: 2025-11-07
Form Type: F-3
Source: 0001213900-25-107483
Chunk: 46

Company: Bitfufu Inc.
Filing Date: 2025-11-07
Form: F-3
Chunk 46
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 ● | the interest charge generally applicable to underpayments of tax will be imposed in respect of the tax attributable to each such other taxable year of the U.S. Holder. |

Although a determination
as to our PFIC status will be made annually, an initial determination that we are a PFIC will generally apply for subsequent years
to a U.S. Holder who held Class A Ordinary Shares while we were a PFIC, whether or not we meet the test for PFIC status in those
subsequent years.

If a U.S. Holder, at
the close of its taxable year, owns shares in a PFIC that are treated as marketable stock, the U.S. Holder may make a mark-to-market election
with respect to such shares for such taxable year. If the U.S. Holder makes a valid mark-to-market election for the first taxable
year of the U.S. Holder in which the U.S. Holder holds (or is deemed to hold) Class A Ordinary Shares and for which we
are determined to be a PFIC, such holder generally will not be subject to the PFIC rules described above in respect to its Class A
Ordinary Shares as long as such shares continue to be treated as marketable stock. Instead, in general, the U.S. Holder will include
as ordinary income each year that we are treated as a PFIC the excess, if any, of the fair market value of its Class A Ordinary Shares
at the end of its taxable year over the adjusted basis in its Class A Ordinary Shares. The U.S. Holder also will be allowed
to take an ordinary loss in respect of the excess, if any, of the adjusted basis of its Class A Ordinary Shares over the fair market
value of its Class A Ordinary Shares at the end of its taxable year (but only to the extent of the net amount of previously recognized
income as a result of the mark-to-market election). The U.S. Holder’s adjusted tax basis in its Class A Ordinary
Shares will be adjusted to reflect any such income or loss amounts, and any further gain recognized on a sale or other taxable disposition
of the Class A Ordinary Shares in a taxable year in which we are treated as a PFIC will be treated as ordinary income. Special tax
rules may also apply if a U.S. Holder makes a mark-to-market election for a taxable year after the first taxable year in which
the U.S. Holder holds (or is deemed to hold) its Class A Ordinary Shares and for which we are