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BitFuFu to merge with Arisz Acquisition and debut on Nasdaq

BitFuFu, a prominent player in the cryptocurrency mining sector, has made a groundbreaking announcement of its plan to go public by merging with Arisz Acquisition Corp. This move signifies a significant milestone for the digital asset mining industry, as it received the approval of both companies’ shareholders on Feb. 28, 2024. The newly formed entity, BitFuFu Inc., is set to debut on the Nasdaq stock exchange under the ticker symbols “FUFU” for its Class A ordinary shares and “FUFUW” for its warrants starting March 1, 2024.

The journey to this momentous occasion began with BitFuFu securing investment from Bitmain and establishing an exclusive strategic partnership focused on cloud mining. With the recent funding injection, the company aims to broaden its international presence in the digital asset sector by leveraging its cutting-edge technological platform and state-of-the-art mining machinery.

Leo Lu, the visionary founder and CEO of BitFuFu, expressed his heartfelt appreciation to all stakeholders for their unwavering support in achieving this crucial milestone. He emphasized the company’s unwavering commitment to corporate governance and transparency as it transitions into a publicly traded entity. The funds raised through this merger will be channeled towards enhancing BitFuFu’s cloud-mining, self-mining, and miner-hosting services to solidify its position as an industry leader.

Echo Hindle-Yang, the dynamic Chairwoman and CEO of Arisz Acquisition Corp., highlighted the significance of BitFuFu’s Nasdaq listing in bolstering its market positioning through innovative technology and the strategic collaboration with Bitmain. She underscored the leadership of Leo and his team at BitFuFu in driving the company towards greater market dominance with their leading-edge technology platform and top-of-the-line mining machines exclusively supplied by Bitmain.

BitFuFu’s business model encompasses cloud mining, miner hosting, and self-mining, enabling the company to effectively navigate market fluctuations and play a pivotal role in shaping the global digital asset mining landscape. The company’s decision to go public was revealed in filings with the U.S. Securities and Exchange Commission (SEC), signaling its intent to trade under the “FUFU” ticker following the merger with Arisz Acquisition Corp.

While BitFuFu’s path to a public listing seems smooth, not all cryptocurrency-related companies have had a seamless experience in entering the public markets. Webull Corporation, a digital investment brokerage, faced challenges in its pursuit of a public listing due to its cryptocurrency services. The company is now eyeing a Nasdaq listing through a merger with SPAC SK Growth Opportunities Corp after encountering regulatory obstacles that hampered its previous attempts at an Initial Public Offering (IPO).

As the digital asset mining industry continues to evolve, the merger between BitFuFu and Arisz Acquisition Corp sets a precedent for companies looking to capitalize on the growing interest in cryptocurrencies and blockchain technology. With a strategic focus on innovation, technology, and market positioning, BitFuFu is poised to make significant strides in the digital asset mining space, fueling its growth and expansion in the dynamic and competitive cryptocurrency market.

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