BitFuFu Secures $100M Bitcoin-Backed Loan Facility with Antpool

Bitmain-backed Bitcoin mining and cloud mining firm BitFuFu has secured a two-year credit facility with Bitmain’s Antpool, allowing for a loan of up to $100 million.

BitFuFu announced on Tuesday that it has not yet utilized any portion of the facility. However, the company suggested plans to explore potential mergers and acquisitions, in addition to retaining its mined Bitcoin, using funds available under the agreement.

According to the announcement, the credit facility will carry an interest rate of 6.5%, secured by BitFuFu’s Bitcoin holdings, with a loan-to-value ratio of 70%.

Based on BitFuFu’s third-quarter earnings report, the company held approximately $104 million worth of digital assets on its balance sheet, equivalent to about 1,600 BTC as of September 30. However, the company did not disclose the specific amount of Bitcoin held for its own account versus its cloud mining customers. Additionally, BitFuFu had $102 million in long-term payables as of the same date.

During the third quarter, BitFuFu mined 1,297 Bitcoin, with 340 Bitcoin allocated to its own account and the remainder mined for cloud mining and hosting customers.

BitFuFu’s move to leverage financing comes amid Bitcoin’s recent bull run. The company, along with other major mining companies such as MARA and CleanSpark, is seeking to capitalize on the sustained market sentiment and capture higher upside potential throughout 2025. These companies have been increasingly utilizing Bitcoin-secured credit and term loans since the third quarter of 2024.