BitFuFu may abandon 80 MW Ethiopia Bitcoin mine purchase over power dispute
- —Power supplier gave the operator a 10-day notice on Sept. 28 to pay or face seizure of collateralized equipment
- —BitFuFu paid sellers $4.1 million and installed 13,700 Antminer S19 machines producing 1.57 EH/s
- —Net book value of the installed hardware was $1.74 million as of Sept. 30
- —September output was 167 BTC, with cloud mining down 20% to 69 BTC
Why it matters: The deal may collapse, risking a $4.1 million write-off and the loss of part of BitFuFu's hashrate.
Source: Cryptopolitan