Crypto Miner Plans to Go Public on Nasdaq
Main page News, Mining, Nasdaq

BitFuFu, a Bitmain-affiliated company that offers cloud mining services, will go public through a merger with SPAC acquisition company Arisz.

According to an SEC filing, the combined shares will trade on the Nasdaq under the ticker FUFU. The merger of the companies will be completed by February 24, 2024, subject to the approval of an Arisz shareholder meeting.

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In the first half of 2023, BitFuFu mined 2,253 BTC and generated $134 million in revenue. The company manages a hashrate of 15.2 EH/s, with nearly 80% of this figure coming from equipment leased from Bitmain.

Bitmain owns a 5% stake in BitFuFu and received nearly $90 million in revenue from the subsidiary in 1H2023 from rental and hosting payments.

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