BitFuFu evaluates terminating $4.1M Ethiopian bitcoin mining deal amid power dispute
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Nasdaq-listed Bitcoin mining operator BitFuFu Inc. is reassessing its planned acquisition of an 80-megawatt (MW) mining facility in Ethiopia. The deal has stalled following a financial and operational dispute between the local target company and its regional electric power supplier. According to a regulatory statement sent to Capital, the acquisition—originally announced in October 2024 through BitFuFu’s wholly owned subsidiary, Finfront Holding Company—remains unconsummated due to unmet conditions precedent. The transaction was structured to secure a majority stake in the Ethiopian entity owning the 80MW site, marking a pivotal step in BitFuFu’s strategy to transition from third-party hosting dependencies toward owning and operating dedicated infrastructure. BitFuFu has disbursed $4.1 million in total cash payments to the sellers and deployed approximately 13,700 Bitmain Antminer S19-series machines to the facility.
First reported by Capital Newspaper. This page is a short excerpt; the full text is theirs.
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