BitFuFu, a leading innovator in the cryptocurrency mining industry, has officially launched its private-label Bitcoin mining pool, BitFuFu Pool. With a competitive commission rate starting at 0.4%, the pool targets both institutional and retail miners seeking efficient and cost-effective solutions.
Boosting Mining Capacity with Full Hashrate Integration
As part of its strategic expansion, BitFuFu has allocated its entire self-mining hashrate to the newly launched pool. This integration not only strengthens the pool’s capacity but also positions BitFuFu as a formidable competitor in the mining sector.
The pool seamlessly integrates into BitFuFu’s existing application, making it easily accessible for both cloud-mining customers and independent miners.
Tailored Services for Institutional Clients
Catering specifically to large-scale institutional miners, BitFuFu offers a suite of customized services, including:
- Sales consultations for optimized planning.
- Real-time monitoring tools for operational transparency.
- Maintenance solutions to ensure mining efficiency.
The company is also preparing to roll out advanced firmware solutions and other tools designed to maximize mining productivity.
November Performance and Treasury Strategy
In November 2024, BitFuFu mined 84 BTC from self-mining operations, leveraging a total mining capacity of 2.4 EH/s.
Currently, the company holds 1,664 BTC as part of its disciplined treasury management strategy, which combines Bitcoin accumulation through mining with revenue generation from its cloud-mining services.
Expansion into Ethiopia to Reduce Costs
BitFuFu is further solidifying its market position by acquiring a majority stake in an 80-megawatt mining facility in Ethiopia.
- Energy Costs Advantage: Ethiopia’s energy prices average below $0.04 per kilowatt-hour, significantly lower than global averages of $0.05 to $0.08 per kilowatt-hour.
- This acquisition aligns with BitFuFu’s plan to counter soaring operational costs, which have increased by 170% in the past year.
Strong Financial Growth Amid Market Volatility
BitFuFu’s financial performance reflects its robust growth trajectory. In Q1 2024, the company reported a 149% surge in revenue, reaching $144.4 million.
The launch of BitFuFu Pool comes at a pivotal time, as Bitcoin’s price recently experienced volatility:
- After surpassing $100,000, Bitcoin saw a 4.81% drop over 24 hours, settling at $98,106.
- This market shift resulted in $649 million in liquidations, with Bitcoin alone accounting for $216.95 million.
BitFuFu: Aiming for Consolidation and Innovation
The launch of the private-label Bitcoin mining pool, coupled with strategic investments in energy-efficient regions like Ethiopia, highlights BitFuFu’s commitment to innovation and cost efficiency.
As the company continues to expand its operations and introduce tailored solutions, it is setting new benchmarks for excellence in the global cryptocurrency mining sector.
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