Company: FUFU
Filing Date: 2025-04-21
Form Type: 20-F
Source: 0001213900-25-033733
Chunk: 18

Company: Bitfufu Inc.
Filing Date: 2025-04-21
Form: 20-F
Item: Item 3
Chunk 18
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 may not be able to find suitable acquisition candidates, complete acquisitions on favorable terms, if at all,
or integrate any acquired business, products or technologies into our operations. If we do complete such acquisitions, they may still
be viewed negatively by customers or investors and they may not enable us to strengthen our competitive position or achieve our strategic
goals. In addition, any acquisitions that we make could lead to difficulties in integrating personnel, technologies and operations from
the acquired businesses and in retaining and motivating key personnel from these businesses. Moreover, acquisitions or strategic alliances
may disrupt our ongoing operations, divert management from day-to-day responsibilities and increase our expenses. Future acquisitions
or strategic alliances may reduce our cash available for operations and other uses and could result in increases in amortization expenses
related to identifiable intangible assets acquired, potentially dilutive issuances of equity securities or the incurrence of debt. We
cannot predict the number, timing or size of future acquisitions or strategic alliances, or their successful implementation or the effect
that any such might have on our results of operations and financial condition.

Risks Related to Our Operations

We may be vulnerable to security breaches,
or be exposed to cybersecurity threats, which could disrupt our operations, subject us to customers’ claims, and materially and
adversely affect our business, financial condition and results of operations.

We receive, process, store
and transmit, often electronically, the data of our customers, much of which is confidential. Unauthorized access to our computer systems
or stored data could result in the theft, including cyber-theft, or improper disclosure of confidential information, and the deletion
or modification of records could cause interruptions in our operations. These cyber-security risks increase when we transmit information
from one location to another, including over the internet or other electronic networks. Despite the security measures we have implemented,
our miners, systems and procedures, and those of our third-party service providers, may be vulnerable to security breaches, acts
of vandalism, software viruses, misplaced or lost data, programming or human errors or other similar events which may disrupt our delivery
of services or expose the confidential information of our customers. Any security breach involving the misappropriation, loss or other
unauthorized disclosure or use of confidential information of our customers or others, whether by us or a third party, could subject us
to civil and criminal penalties, have a negative impact on our reputation, or expose us to liability to our customers, third parties or
government authorities.

A party who is able to compromise
the physical security