Crypto Miner BitFuFu Lists on Nasdaq Through SPAC Merger

Bitmain-affiliated cloud mining service provider BitFuFu completed a reverse merger with SPAC Arisz Acquisition Corp and became a publicly traded company on March 1 on the Nasdaq exchange under the ticker FUFU.

According to a press release, BitFuFu’s revenue increased to $198.2 million in the first half of 2023. The company has 131,000 miners under its control and a total hashrate of 15.2 EH/s across 17 facilities as of June 30, 2023.

Additionally, BitFuFu received $74 million in private equity investments from its existing shareholders and strategic partners, including Bitmain and AntPool, as part of the merger.

The company’s management, led by founder Leo Lu, will continue to oversee the company. The decision to go public through a merger with Arisz was announced at the beginning of 2022.