How BitFuFu Is Leveraging Cloud Contracts For International Growth

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Welcome to The Mining Pod! Charlie Brady, VP of Investor Relations at BitFuFu joins us to dive into their Bitcoin mining operations. We explore their strategic expansion in Ethiopia with electricity costs under $0.04/kWh, their new 51MW Oklahoma facility targeting $0.03/kWh, and their cloud mining business that's grown to over 600,000 users. Charlie shares insights on their asset acquisition strategy, relationship with Bitmain, and plans to reach 1GW of secured power capacity by 2026.

Notes:

BitFuFu currently has 20.6 EH/s and 480MW hosting capacity

Ethiopia electricity costs below $0.04/kWh

Oklahoma site targets $0.03/kWh power costs

Cloud mining business grew to 602K+ users

Cloud mining = ~60% of company revenue

00:00 Start

02:09 Charlie's bio

02:31 Why work for BitFuFu?

04:00 Ethiopia

05:35 Ethiopia expansion

07:12 Ethiopia political stability

09:26 Oklahoma

11:58 Pathway to gigawatt?

12:59 AI & HPC

15:39 Bitmain influencing any AI decisions?

18:39 Cloud contract numbers

20:28 Who are the cloud customers?

26:18 Bear market for mining stocks

29:44 Hosting

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