<a href="https://ultramining.com/en/manufacturers/bitmain/">Bitmain</a>'s subsidiary, <a href="https://af.bitfufu.com/QRdO/cwhbatz1">BitFuFu</a>, aiming for a public listing via a Special Purpose Acquisition Company (SPAC) merger. This strategic move, highlighted by a successful filing with the <a href="https://ultramining.com/news/en/bitcoin-mining-reshaping-landscape-amid-global-interest-surge/">SEC</a> on December 31, marks a pivotal step towards BitFuFu's Nasdaq listing under the symbol "FUFU." The merger with Arisz Acquisition Corp., initially slated for a 2022 debut, now targets a May listing, reflecting the cautious optimism in the volatile crypto market landscape, according to <a href="https://cryptonews.com/news/bitmains-mining-firm-bitfufu-set-to-go-public-in-the-u-s-via-spac.htm">Cryptonews</a>. 
The anticipation builds as Arisz Acquisition Corp. prepares for a February 20 shareholder meeting, vital for approving the business combination. Amidst the backdrop of regulatory scrutiny and market volatility, particularly highlighted by the collapse of FTX, BitFuFu's journey underscores the intricate dance between ambition and prudence in the crypto sector's quest for mainstream acceptance. 
Financially, BitFuFu showcased a robust performance with $134 million in revenue for H1 2023, mining 2,253 BTC and boasting a 15.2 EH/s operational hashrate. This performance, closely rivaled by <a href="https://ultramining.com/news/en/marathon-digital-to-boost-energy-efficiency-with-s19-xp-miners/">Marathon</a>, emphasizes BitFuFu's significant market presence. However, the deep ties with Bitmain, evident through an 80% dependency on leased miners and a notable $90 million spent on leasing and <a href="https://ultramining.com/news/en/bitcoin-mining-reshaping-landscape-amid-global-interest-surge/">hosting</a> fees, raise questions about BitFuFu's autonomy and resilience in diversifying its operational backbone.

Bitmain’s Affiliate BitFuFu Eyes Nasdaq Debut Amid Market Turbulence

Ultramining_Eng

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