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Bitmain-Backed BitFuFu Entered Into Definitive Merger Agreement With Arisz Acquisition Corp.

Benzinga Real-time News ·  2022/01/25 08:16

- The Transaction includes a$70 million fully committed PIPE financingat $10.00/share,led byBitmain Technologies Holding Company ("Bitmain"), a world-leading cryptocurrency mining hardware manufacturer, andAntpool Technologies Holding Company ("Antpool"), a world-leading Bitcoin mining pool.

- BitFuFu was founded in 2020 withearly investment from Bitmain and core founding team members from Bitmain.

- BitFuFu forecasts FY 2022 revenue of approximately$330 million1, representing a230%YoY growth over its anticipated FY 2021 revenue of approximately$100 million2. The Company forecasts its non-GAAP adjusted FY 2022 EBITDA to be approximately$100 million1.

- BitFuFu expects to increase its cloud platform's managed hashrate to a total of10.0 EH/s by the...

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