Company: FUFU
Filing Date: 2025-05-22
Form Type: CORRESP
Source: 0001213900-25-046616
Chunk: 3

Company: Bitfufu Inc.
Filing Date: 2025-05-22
Form: CORRESP
Chunk 3
---
 designated wallets. According to our agreement with customers, we
are not responsible for the outputs from mining pools or the actions of the mining pool operators. In our cloud mining business, there
is no contract, as identified by ASC 606, between us and the mining pools. We have no contractual rights or obligations regarding the
bitcoins mined by customers using our cloud mining services and, therefore, do not recognize these bitcoins as either revenue or cost
of revenue. Included within our cost of revenue for the cloud mining business are internal costs such as depreciation charges for self-owned
mining equipment, platform technology fees and salaries, as well as external cost such as lease costs charged for third-party mining equipment,
outsourcing fees, electricity costs, etc.

Further, we respectfully propose to revise the
disclosure in the second bullet on page F-17 as follows (page reference is made to the 2024 Form 20-F to illustrate the approximate location
of the disclosure) in our future Form 20-F filings (with additions underlined) to clarify the relationship between our customer and the
mining pools they select, subject to updates and adjustments to be made in connection with any material development of the subject matter
being disclosed:

Page F-17:

| ● | Satisfaction                                                                            
 of a performance obligation and revenue recognition: …… In accordance with              
 the Company’s Agreement with its customers, the Company is not responsible for the      
 output of the mining pool or the actions of mining pool operator. Actually, the         
 customers select the mining pool at their own discretion. In addition, the Company does 
 not have any explicit or implicit repurchase agreements with customers.                 |

If you have any additional questions or comments regarding
the 2024 Form 20-F, please contact the undersigned at calla.zhao@bitfufu.com or the Company’s U.S. counsel, Yang Ge of DLA Piper
UK LLP at yang.ge@dlapiper.com.

| Very truly yours,       |
| /s/ Calla Zhao          |
| Calla Zhao              |
| Chief Financial Officer |

| cc: | Leo                                                                              
 Lu, Chief Executive Officer and Chairman of the Board of Directors, BitFuFu Inc. |

Yang Ge, Esq., Partner, DLA Piper UK LLP

<div align='center'>3</div>