Company: FUFU
Filing Date: 2025-04-21
Form Type: 20-F
Source: 0001213900-25-033733
Chunk: 17

Company: Bitfufu Inc.
Filing Date: 2025-04-21
Form: 20-F
Item: Item 3
Chunk 17
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 also result in additional costs for remediation and rework. As a result, our reputation, business
and results of operations may be materially and adversely affected.

Any global systemic economic and financial
crisis could negatively affect the prices of digital assets, and in turn our business, results of operations, and financial condition.

Any prolonged slowdown in
the global economy may have a negative impact on our business, results of operations and financial condition. For example, the global
financial markets have experienced significant disruptions since 2008 and the United States, Europe and other economies have experienced
periods of recession. The recovery from the lows of 2008 and 2009 has been uneven and there are new challenges. The global outbreak of
COVID-19 had a severe and negative impact on the global economy and financial markets from 2020 through 2022, and the global macroeconomic
environment still faces numerous challenges. There is considerable uncertainty over the long-term effects of the monetary and fiscal
policies adopted by the central banks and financial authorities of some of the world’s leading economies, including the United States
and China. There have also been concerns over the significant potential changes to United States trade policies, treaties and tariffs,
all of which have resulted in market volatility. Additionally, the Russia-Ukraine conflict, the Hamas-Israel conflict and the attacks
on shipping in the Red Sea have heightened geopolitical tensions across the world. The impact of the Russia-Ukraine conflict on Ukraine
food exports has contributed to increases in food prices and thus to inflation more generally. There were and could be in the future a
number of domino effects from such turmoil on our business, including significant decreases in orders from our customers; insolvency of
key suppliers resulting in delays or interruptions of key supplies; inability of customers to finance purchases of our services and products
and/or customer insolvencies; and other counterparty failures negatively impacting our operations. Any systemic economic or financial
crisis could cause revenues for the digital assets industry as a whole to decline dramatically and could materially and adversely affect
our business, results of operations and financial condition.

We may engage in acquisitions or strategic
alliances in the future that could disrupt our business, result in increased expenses, and reduce our financial resources, and such acquisitions
or strategic alliances may not be successfully implemented or generate positive results as expected.

Although we have limited experience
in acquisitions or strategic alliances in the past, we may look for potential acquisitions or strategic alliances in the future to expand
our business. However, we