Bitcoin Miner BitFuFu Acquires 51MW Oklahoma Data Center to Expand Mining Operations

Today, mining company BitFuFu announced its acquisition of a 51-megawatt operational data center in Oklahoma, a strategic step that’s set to supercharge its U.S. Bitcoin mining footprint and redefine efficiency in the crypto mining industry.

The acquisition highlights the company’s savvy approach to expanding its global reach. By securing a majority stake in this Oklahoma facility, BitFuFu taps into an enviable advantage: incredibly low-cost power at just $0.03 per kilowatt-hour. In a world where energy costs can make or break Bitcoin mining profitability, this move is a masterstroke. It positions BitFuFu to optimize its operations, leveraging the state’s favorable regulatory environment and abundant energy resources to keep costs down and efficiency high.

Digging deeper, the integration of AntMiner S21 series miners at this site is a game-changer. These cutting-edge machines, developed by Bitmain, who is BitFuFu’s strategic partner and a leader in ASIC mining hardware, help drive down the cash cost of mining a single Bitcoin to an impressive $18,000, excluding depreciation. This efficiency is critical as Bitcoin mining grows increasingly complex, with soaring network difficulty demanding more powerful and energy-savvy hardware.

This acquisition which plans were announced for it in January, isn’t just about Oklahoma, it’s part of BitFuFu’s ambitious 1-gigawatt global capacity expansion plan, a vision that promises to reshape its role in the Bitcoin mining landscape. The company’s partnership with Bitmain, bolstered by earlier moves like acquiring 80,000 S-series miners, shows a clear strategy: harness top-tier technology and cost-effective energy to deliver value for clients and shareholders alike. The deal was funded through BitFuFu’s balance sheet and stock, which reflects a calculated effort to scale operations while minimizing risk.