Company: FUFU
Filing Date: 2025-04-21
Form Type: 20-F
Source: 0001213900-25-033733
Chunk: 95

Company: Bitfufu Inc.
Filing Date: 2025-04-21
Form: 20-F
Item: Item 4
Chunk 95
---
-positioned to capture the growth potential for
the digital asset industry.

Robust industry collaboration network covering
Bitmain and AntPool

We are committed to fostering
close collaboration with world-leading industry players, in particular with Bitmain, a world-leading cryptocurrency mining hardware
manufacturer, and AntPool, a major digital asset mining pool. We received seed investment from Bitmain in July 2021 and further investments
from Bitmain and AntPool in February 2024 pursuant to the Amended and Restated PIPE Subscription Agreements, demonstrating their continuous
support of our future outlook. As more companies enter into the digital asset industry and compete for higher mining capacity, hosting
capacity and power supply, we believe the strategic collaboration with Bitmain and AntPool enables us to secure access to stable supply
of cost-efficient mining resources, such as miners with effective hash rate to power consumption ratio, electricity, hosting facility
resources and pooling services at commercially optimal terms, so that we can deliver reliable services to our customers and efficiently
scale up our customer base.

We are a cloud-mining strategic
partner of Bitmain. We are also a S-level client of Bitmain, the highest level among all of Bitmain’s clients, which has provided
us with privileges in terms of, among others, availability of miners, delivery schedule and payment terms. In addition, we have also entered
into a ten-year collaboration agreement with Bitmain, pursuant to which we can obtain 300 MW hosting capacity as well as stable,
competitive power and hosting fee arrangements in mining hosting facilities across the world.

Flexible business model to weather market
volatility

We have adopted an efficient
and flexible business model, featuring a trio of integrated digital asset services, including cloud-mining and self-mining. Through our
hash calculation dispatch system and connection with mining pools, we can seamlessly deploy miners sourced from various suppliers into
cloud-mining or self-mining operations according to our business needs, which allows us to optimize our miner utilization and
mining returns. With our ability to secure a stable access to advanced miners, we can also strategically allocate such resources between
selling miners and mining digital assets to optimize monetization amid highs and lows of the relevant digital asset markets. The complementary
deployments miner resources procured from suppliers will allow us to effectively adjust our business strategies and reduce risk exposure
under volatile market conditions.

By slicing the mining capacity
we procure into units for various renting periods, our cloud-mining solutions enable customers at all sophistication levels to mine
digital assets