BitFuFu (FUFU) said Thursday it has signed a letter of intent to buy a majority stake in a 51-megawatt bitcoin mining facility in Oklahoma.
"This acquisition would represent a pivotal step in advancing our North American expansion strategy and 1GW global power capacity build-up plan," said Chief Executive Officer Leo Lu.
The transaction, expected to close in H1 if consummated, is structured as a majority equity acquisition, the company said, adding that there is no assurance that any transaction will be concluded.
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