BitFuFu to acquire a majority stake in a 51MW bitcoin mining facility in Oklahoma

Cloud-mining provider BitFuFu has signed a letter of intent to acquire a majority stake in a 51MW bitcoin mining facility in Oklahoma, USA.

? We’ve taken a major step forward in our growth strategy as we signed a letter of intent to acquire a majority stake in a cutting-edge 51MW Bitcoin mining facility in Oklahoma, USA.

This strategically located facility provides a reliable 51MW power supply at an… pic.twitter.com/lJZ2YCovcl

— BitFuFu (@BitFuFuOfficial) January 16, 2025

The transaction is expected to close in the first half of 2025 following completion of due diligence and receipt of regulatory approvals.

The site houses air-cooled bitcoin miners and benefits from a competitive power tariff — an average of $0.03 per kWh.

“This acquisition will be a key step in advancing our North American expansion strategy and our plan to scale global capacity to 1GW,” said BitFuFu CEO Leo Lu.

According to the company’s website, it currently operates 26.2 EH/s of hashrate and has access to 556 MW of infrastructure.

BitFuFu noted that the facility being acquired is located in an unpopulated area of Oklahoma. Some miners have previously faced problems over noise from data centres.

In Arkansas, GMI Computing faced complaints from residents, and in Texas so did MARA.

US Bitcoin, even before merging with Hut 8, was able to resume operations at a mining facility in New York state only after building a noise barrier.

And in the Norwegian municipality of Hadsel, the community secured the closure of the Stokmarknes Datasenter site. Neither the installation of acoustic screens nor the threat of higher household power tariffs helped.

In October 2024, BitFuFu acquired a controlling stake in an 80 W bitcoin farm in Ethiopia. The deal underscored the trend toward the country’s transformation into one of the global centres of mining.