Company: FUFU
Filing Date: 2025-04-21
Form Type: 20-F
Source: 0001213900-25-033733
Chunk: 33

Company: Bitfufu Inc.
Filing Date: 2025-04-21
Form: 20-F
Item: Item 3
Chunk 33
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 ended December 31, 2024. In addition, once we cease to be an “emerging growth company” as such
term is defined in the JOBS Act, our independent registered public accounting firm must attest to and report on the effectiveness of our
internal control over financial reporting. If we fail to remedy the material weakness that has been identified and continues to exist
or other material weaknesses that may be identified in the future, our management may again conclude that our internal control over financial
reporting is not effective. In addition, our reporting obligations may place a significant strain on our management, operational, and
financial resources and systems for the foreseeable future. We may be unable to complete our evaluation testing and any required remediation
in a timely manner. Moreover, even if our management concludes that our internal control over financial reporting is effective, our independent
registered public accounting firm, after conducting its own independent testing, may issue an adverse opinion on the effectiveness of
internal control over financial reporting if it is not satisfied with our internal controls or the level at which our controls are documented,
designed, operated or reviewed, or if it interprets the relevant requirements differently from us. In addition, as a public company, our
reporting obligations may place a significant strain on our management, operational and financial resources and systems for the foreseeable
future. We may be unable to timely complete our evaluation testing and any required remediation.

During the course of documenting
and testing our internal control procedures, in order to satisfy the requirements of Section 404, we may identify other weaknesses
and deficiencies in our internal control over financial reporting. If we fail to maintain the adequacy of our internal control over financial
reporting, as these standards are modified, supplemented or amended from time to time, we may not be able to conclude on an ongoing basis
that it has effective internal control over financial reporting in accordance with Section 404. Generally speaking, if we fail to
achieve and maintain an effective internal control environment, it could result in material misstatements in our financial statements
and could also impair our ability to comply with applicable financial reporting requirements and related regulatory filings on a timely
basis. As a result, our businesses, financial condition, results of operations and prospects, as well as the trading price of the ordinary
shares, may be materially and adversely affected. Additionally, ineffective internal control over financial reporting could expose us
to increased risk of fraud or misuse of corporate assets and subject us to potential delisting from the stock exchange on which