Company: FUFU
Filing Date: 2025-04-21
Form Type: 20-F
Source: 0001213900-25-033733
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Company: Bitfufu Inc.
Filing Date: 2025-04-21
Form: 20-F
Item: Item 3
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ITEM
3. KEY INFORMATION

  [Reserved]  
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  Capitalization and Indebtedness  

Not applicable.

  Reasons for the Offer and Use of Proceeds  
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Not applicable.

  Risk Factors  
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Our business and our industry
are subject to significant risks. You should carefully consider all of the information set forth in this Report and in our other filings
with the SEC, including the following risk factors, in evaluating our business. Any of the following risks or any additional risks not
presently known to us or that we currently deem immaterial may materially and adversely affect our business, financial condition, results
of operations, and growth prospects. In that event, the trading price of our securities could decline, and you could lose all or portion
of your investment. This Report also contains forward-looking statements that involve risks and uncertainties. See the section entitled
“ Cautionary Note Regarding Forward-Looking Statements.”

Summary of Risk Factors

Risks Related to Our Business

Risks and uncertainties
relating to our business include, but are not limited to, the following:

  our limited operating history and rapid growth making it difficult to evaluate our business and prospects;  

  our ability to innovate and provide services and products that meet the expectations of our customers;  

  price fluctuations of digital assets, in particular that of Bitcoin;  

  our ability to compete effectively against current and future competitors;  

  our reliance on a limited number of suppliers to provide us with digital asset mining equipment, hosting facilities, and other products or services critical to our business;  

  our customer concentration; and  

  risks related to power supply, including increases in power costs and power outage.  
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Risks Related to Our Operations

Risks and uncertainties
relating to our operations include, but are not limited to, the following:

  security breaches, threats and attacks affecting us or the digital asset industry;  

  system failure or other service disruptions of our system;  

  our ability to maintain relevant licenses and permits;  

  our reliance on third-party service providers to safeguard and manage certain digital assets;  

  risks related to loss of digital assets;  

  involvement in legal or other disputes;  

  risks related to prepayments and deposits to suppliers and account receivables from customers; and  

  uncertainties with respect to the accounting treatment of digital assets.