Bitcoin miner BitFuFu is considering terminating its planned acquisition of an 80MW facility in Ethiopia following a dispute between the operator and its local electricity supplier.

The Nasdaq-listed company said on October 13 that closing conditions remained unmet and the transaction had not been completed.

The original agreement was announced on October 22, 2024, noting BitFuFu’s intention to acquire a majority stake in the business that owns and operates the facility.

BitFuFu had paid $4.1 million to the sellers and deployed approximately 13,700 Bitmain Antminer S19-series machines, representing 1.57EH/s of hashrate. Their net book value was $1.74m as of September 30.

On September 28, however, the supplier gave the operator ten days to pay disputed amounts, threatening to seize pledged equipment and assets. BitFuFu said that, to its knowledge, those amounts remained unpaid when it issued its update.

The company, which is not a party to the power dispute, is evaluating termination, arbitration against the sellers, recovery of payments and the return of its machines.

BitFuFu CEO Leo Lu said local power curtailment was already reflected in previous results, with limited further production impact expected.

“We believe this event’s incremental impact on the company will be minimal,” Lu added.

BitFuFu said at the time that the acquisition marked a shift from relying on third-party hosting towards owning and operating its own mining infrastructure. It cited power costs below $0.04 per kilowatt-hour and the potential to add 4.6EH/s by installing Bitmain S21-series machines.

Earlier company announcements described the Ethiopian investment differently. In July 2025, BitFuFu said it had acquired a majority stake in the facility, highlighting its hydropower resources as part of its renewable energy strategy.

The company had also announced an agreement for a majority stake in a 51MW Oklahoma mining facility in February 2025. The site, covered previously by DCD, used air-cooled containers and had operated since 2022. BitFuFu quoted a price of $400,000 per MW and electricity costs of approximately $0.03/kWh.

Most of its mining infrastructure was then located in the United States, and the Ethiopian project was intended to diversify its geographic footprint.