Cryptomining firm BitFuFu has acquired a data center in Oklahoma.
The NASDAQ-listed company this week announced it has signed a definitive agreement and acquired a majority ownership in a 51MW operational Bitcoin mining data center in Oklahoma.
The deal was reportedly priced at $400,000 per megawatt, suggesting a total value of $20.4 million. The transaction was funded with cash from BitFuFu’s balance sheet and common stock.
Located in Oklahoma, the acquired data center has been operational since 2022, utilizing air-cooled container-based infrastructure. BitFuFu noted the facility includes an operations center which can be used as a hardware repair center.
Plans to acquire the site were announced in January – further details on location or the seller weren’t shared.
The site has available land for further expansion, pending the completion of a transmission upgrade study by the utility company and Southwest Power Pool in mid-2025.
“We have made significant progress toward our 1GW global capacity expansion plan,” said Leo Lu, chairman and CEO of BitFuFu. “This acquired data center in Oklahoma has built a highly efficient mining operation, and we are excited to welcome them into the BitFuFu family. It allows us to expand our self-mining operations, enhance hosting services, and strengthen our cloud mining platform.”
On its website, BitFuFu claims to offer 556MW of Bitcoin mining hosting capacity across 17 locations – nine in the US, one in Ethiopa, and one in Paraguay. Cryptomining hardware manufacturer Bitmain has previously invested in the company. Founded around 2020, the crypto firm went public in February 2024 via a SPAC merger with Arisz Acquisition Corp.
As part of its goal to expand to 1GW of capacity by 2026, the company has said it is transitioning from an asset-light strategy to owning a “diverse and robust portfolio” of Bitcoin mining infrastructure.
In December, the company signed 10-year exclusive lease agreements for two US Bitcoin mining facilities with a combined capacity of 33MW – the lease agreements also give BitFuFu the option to acquire a majority stake in both facilities. At the time the company said the deal took the company to 110MW between sites owned or operated by the company – with the remainder hosted by third parties.
In October, the firm took a 51.25 percent stake in an 80MW Bitcoin mining facility in Ethiopia.
