THE MINING POD: How BitFuFu Is Leveraging Cloud Contracts For International Growth
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 18 March 2025
⏱️ 33 minutes
🧾️ Download transcript
Summary
From Ethiopia to Oklahoma, BitFuFu is turning recurring revenue into gigawatts of power.
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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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Transcript
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| 0:49.7 | Hey, welcome back to the mining pod. On today's show, we're joined by the Vice President of Investor |
| 0:53.5 | Relations for Bitfou-Foo, Charlie Brady. Thank you to Charlie and the Bitfoo team for joining us. We really dig into the knots and bolts of the operation, talking about their mining ops in Ethiopia, Oklahoma, cloud mining contracts. And then we kind of finish off with a final touch on the general macro landscape |
| 1:12.3 | for Bitcoin mining stocks or risk on assets that seem to be selling quite a bit right now. |
| 1:18.2 | A lot of red and blood on the timeline. Thank you again, 2bit Foofu for joining the show. |
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... |
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