Company: FUFU
Filing Date: 2025-04-21
Form Type: 20-F
Source: 0001213900-25-033733
Chunk: 122

Company: Bitfufu Inc.
Filing Date: 2025-04-21
Form: 20-F
Item: Item 4
Chunk 122
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 of the stablecoins
in response to changes in demand. However, the MAS has cautioned that although such stablecoins may not meet the definition of “e-money”
under the PSA, they may meet the definition of a “digital payment token” instead.

On July 21, 2020, the
MAS issued a “ Consultation Paper on the New Omnibus Act for the Financial Sector” proposing, among others, that entities in
Singapore providing “digital token services” outside of Singapore require licensing under a new omnibus Act for the regulation
of ML/CFT risks in the Singapore financial sector. Such licensing regime, if passed and brought into force, may require issuers of tokens
or providers of “digital token services” based in Singapore to be licensed or exempted as “digital token service providers”
under the proposed Omnibus Act, notwithstanding that they may be providing such “digital token services” solely to persons
outside of Singapore.

We believe that the existing
law governing the mining, licensing and transactions of digital assets may continue to evolve in Singapore.

  Organizational Structure  
 ────────────────────────────

Upon consummation of the Business
Combination, Finfront became our wholly-owned subsidiary. The following diagram depicts a simplified organizational structure of the Company
as of the date of this Report. These subsidiaries are also set forth in Exhibit 8.1 to this Report.

  Property, Plants and Equipment  
 ──────────────────────────────────

Our corporate headquarters
are located at 9 Temasek Boulevard, Suntec Tower 2, #13-01, Singapore 038989, where we lease approximately 1,500 square feet of commercial
office space pursuant to operating leases that expire in January 2026. We lease all of our facilities and believe that our facilities
are adequate to meet our needs for the immediate future, and that, should it be needed, suitable additional space will be available on
commercially reasonable terms to accommodate any such expansion of our operations.

In addition, we store miners
in and has access to third-party facilities located at Ethiopia and several states in the United States, including Montana, Texas, Arkansas,
among others. In aggregate, we had access to approximately 551 MW electricity capacity in facilities primarily located in five continents
as of December 31, 2024.

ITEM
4A. UNRESOLVED STAFF COMMENTS