BitFuFu miner acquires major data center in Oklahoma
BitFuFu bought a data center
Publicly traded mining company BitFuFu Inc. has announced the acquisition of a majority stake in a 51-megawatt (MW) Bitcoin mining data center in Oklahoma. The deal, priced at $400,000 per MW, was financed through BitFuFu’s cash reserves and stock issuance.
According to the press release, the data center was built in 2022 and operates using air-cooled, container-based infrastructure. With low electricity costs of approximately $0.03 per kWh, the facility enables BitFuFu to mine Bitcoin at a production cost as low as $18,000 (assuming the use of AntMiner S21 XP, excluding equipment and infrastructure depreciation).
The company highlights Oklahoma’s favorable regulatory environment, which offers tax incentives for mining businesses. Additionally, the facility is located within the Southwest Power Pool (SPP)—a highly stable and regulated energy market with efficient power distribution.
BitFuFu plans to deploy new-generation AntMiner S21 miners and higher-performance models at the site, increasing its total managed hash rate by over 3 EH/s. Further expansion is planned after the completion of a grid upgrade study, expected by mid-2025.
Expanding global capacity
Leo Lu, Chairman and CEO of BitFuFu, emphasized that acquiring the Oklahoma data center is a significant milestone in the company's 1-gigawatt (GW) global expansion plan. The company aims to strengthen self-mining operations, enhance hosting services, and expand its cloud mining offerings.
Furthermore, BitFuFu has signed an agreement with BITMAIN to purchase up to 80,000 S-series miners (including S21 XP and S21 Pro models) in Q4 2024. This move is expected to increase computing power and improve the efficiency of the company’s global hash rate network.
Earlier this year, BitFuFu’s stock surged 13% following the announcement of a major mining hardware purchase.
