BitFuFu Inc. (FUFU), a Bitcoin miner and mining services innovator, Monday announced that it has been authorized to repurchase up to $5 million of its Class A ordinary shares, with par value $0.0001 per share, during a 24-month period starting from June 24.
The repurchase will be funded by cash.
"While current market conditions may present short-term fluctuations in operating metrics, our solid financial position enables us to repurchase shares opportunistically while continuing to invest in key business initiatives, including expanding our global infrastructure platform and increasing hash rate capacity.", commented Leo Lu, CEO of BitFuFu.
In pre-market activity, FUFU shares were trading at $1.78, up 4.71% on the Nasdaq.
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