Cloud mining service provider BitFuFu has signed a letter of intent to acquire a majority stake in a 51 MW Bitcoin mining operation located 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 deal is slated for completion in the first half of 2025, pending due diligence and regulatory approvals.

The facility uses Bitcoin miners with air-cooling technology and benefits from a competitive electricity rate—averaging $0.03/kWh.

“This acquisition marks a major step forward in our North American expansion strategy and our plan to scale global capacity to 1 GW,” commented BitFuFu CEO Leo Lu.

According to the company’s website, it currently manages a hash rate of 26.2 EH/s and has access to 556 MW of infrastructure capacity.

BitFuFu noted that the targeted mining site is situated in a sparsely populated area of Oklahoma, addressing potential noise complaints that have plagued other operators.

For instance, in Arkansas, GMI Computing ran into issues with residents protesting data center noise, while in Texas, MARA faced similar challenges.

US Bitcoin, before merging with Hut 8, was able to resume operations at its New York state mining site only after building a noise-reduction wall.

And in Norway’s Hadsel municipality, the community managed to shut down the Stokmarknes Datasenter facility, despite the installation of acoustic barriers and warnings about higher power tariffs for local households.

Context

In October 2024, BitFuFu acquired a majority stake in an 80 MW Bitcoin mining farm in Ethiopia, underscoring the trend toward transforming that African nation into a global mining hub.