Company: FUFU
Filing Date: 2025-04-21
Form Type: 20-F
Source: 0001213900-25-033733
Chunk: 115

Company: Bitfufu Inc.
Filing Date: 2025-04-21
Form: 20-F
Item: Item 4
Chunk 115
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 requiring our employees, contractors, consultants and
other third parties to enter into confidentiality and proprietary rights agreements to control access to our proprietary information.
These laws, procedures and restrictions provide only limited protection, and any of our intellectual property rights may be challenged,
invalidated, circumvented, infringed or misappropriated. Furthermore, the laws of certain countries do not protect proprietary rights
to the same extent as the laws of the United States, and we therefore may be unable to protect our proprietary technology in certain
jurisdictions. Moreover, our platform incorporates software components licensed to the general public under open-source software
licenses. We obtain many components from software developed and released by contributors to independent open-source components of
our platform. Open-source licenses grant licensees broad permissions to use, copy, modify and redistribute those open-source components
of our platform. As a result, open-source development and licensing practices can limit the value of our software copyright assets.

We also have registered certain
trademarks in various jurisdictions, including the United States. We continually review our development efforts to assess the existence
and patentability of new intellectual property.

Seasonality

Our hash calculations are
typically slightly lower in summer, as higher temperature tends to affect miner performance and cause electricity costs to raise. In addition,
extreme weather condition in winter may negatively affect the operations of hosting facilities, which in turn affects miner performance.

Employees

All aspects of our business
require specialized knowledge and technical skill. Such knowledge and skills include the areas of blockchain technology, research and
development, digital asset marketing and operations, human resource management, data privacy, as well as legal compliance, finance and
accounting. We believe that we have adequate personnel and resources with the specialized skills required to carry out our operations
successfully. As of December 31, 2022, 2023 and 2024, we had 26, 29 and 34 full-time employees, who have been engaged by the subsidiaries
of BitFuFu Inc. and primarily work in Singapore, the U. S. and UAE during employment terms.

None of our employees are
represented by a labor union or covered by collective bargaining agreements, and we have not experienced any work stoppages.

The remuneration payable to
our employees includes salaries and allowances. We determine employee remuneration based on factors primarily including industry standard,
department operation requirement and work performance. In order to maintain the quality, knowledge and skills of our employees, we appreciate
the importance of training to employees. We provide regular