Slide 1: BitFuFu Presentation: The Future Is Mine
BitFuFu Presentation The Future Is Mine January 2022
Slide 2: Disclaimer
Disclaimer This presentation (this “Presentation”) is provided solely for information purposes only and does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase any equity or debt . It has been prepared to assist interested parties in making their own
Slide 3: Disclaimer (continued)
Disclaimer (continued) These statements are based on various assumptions, whether or not identified in this Presentation, and on the current expectations of Arisz’s and the Company’s management and are not predictions of actual performance . Forward - looking statements generally are accompanied by
Slide 4: Disclaimer (continued): No Offer or Solicitation
Disclaimer (continued) No Offer or Solicitation This Presentation shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registrati
Slide 5: Transaction Summary
Transaction Summary Background Pro Forma Ownership & Valuation Key PIPE Investor s Timing and Conditions Alignment of Interests • BitFuFu entered into a definitive merger agreement with Arisz Acquisition Corp. (“ARIZ”) on Jan. 21, 2022; • The combined company is expected to be re name d BitFuFu Inc.
Slide 6: Investment Highlights
Investment Highlights World Leading Cloud - Mining and Fast - Growing Digital Asset Service Provider Industry - Leading Technology Platform with State - of - the - Art Mining Machines Proven Track Record of Financial Performance Execution - Minded and Experienced Management Team The Only Cloud - Min
Slide 7: BitFuFu, A World-Leading Cloud-Mining, Fast-Growing Digital Asset Service Provider
BitFuFu, A World - Leading Cloud - Mining, Fast - Growing Digital Asset Service Provider 7
Slide 8: BitFuFu - Leader in the Global Cloud-Mining Industry
BitFuFu - Leader in the Global Cloud - Mining Industry Facilitate Industry Vertical Integration Scale Mining Farm Supply Upgrade Service Capabilities 3 3, 000 Peak Number of Miners Under Management 140MW Hosting Capacity ≈$ 100 m 2021 Revenue Notes: 1. As of 12/31/2021. 2. Unaudited; based on BitFuF
Slide 9: BitFuFu At A Glance
BitFuFu At A Glance Miner Hosting Cloud Mining Self Mining Seamless transition between self - mining and cloud mining to mitigate market risks and optimize operational efficiency BitFuFu provides stable and intelligent hashrate service solutions and enables global customers to mine digital assets ef
Slide 10: Key Milestones
December 2021 BitFuFu became a fast - growing company in the digital asset mining industry globally. December 2020 Hashrate sharing and trading platform went live. March 2021 Antpool & BitFuFu commenced cooperation. May 2021 Bitmain & BitFuFu reached strategic cooperation, providing miner supply and
Slide 11: Strong Potential in a High-Growth Market
38% Digital Asset Market Capitalization 1 Other Bitcoin Notes: 1. Source: coinmarketcap, as of January 18, 2022. 2. Source: THE BLOCK <The Block Research 2022 Digital Asset Outlook> 3. Including Marathon (MARA), Riot Blockchain (RIOT), Hut 8 (HUT), Hive Blockchain (HIVE), Cipher Mining (CIFR), TeraW
Slide 12: Industry Leader at Scale - Cloud-Mining Industry in 2021
3.2 3 3 2 2 1.605 1.25 1.1 Marathon BitFuFu Riot Bitfarms Hut 8 Argo Hive TeraWulf Hashrate Under Management (EH/s ） Industry Leader at Scale – Cloud - Mining Industry in 2021 Notes: 1. BitFuFu data as of 12/31/2021; all from managed third party hashrate . 2. Total hosting capacity available for ser
Slide 13: The Only Cloud-Mining Strategic Partner of Bitmain to Date
The Only Cloud - Mining Strategic Partner of Bitmain to Date 13 Note: as of January, 2022 1
Slide 14: Bitmain Partnership and PIPE Investment
• Bitmain is a world - leading cryptocurrency mining hardware manufacturer . • Bitmain invested in BitFuFu in July 2021 and further committed to leading the PIPE investment in connection with the merger. • $70 million total PIPE investment at $10.00 per share led by Bitmain and Antpool, a world - le
Slide 15: Bitmain supports BitFuFu with its top-tier mining resources
Mining Farms Miner Supply Marketing Operations The Only Cloud - Mining Strategic Partner of to Date • S - level client of Bitmain accessing various VIP privileges, the highest level in Bitmain • Competitive miner supply & computing power cooperation • Global marketing collaboration with Bitmain, res
Slide 16: Profitable Business Model with Strong Operational Efficiencies
Profitable Business Model with Strong Operational Efficiencies 16
Slide 17: Business Highlights
Business Highlights Globally distributed mining facilities to ensure stable power supply - World - wide operations Efficient business model to manage market volatility - Seamless transitioning between cloud - mining and self - mining Industry leading technology platform - Underpinned by the Aladdin
Slide 18: Business Model Overview
Business Model Overview Hashrate Slicing and Trading Miner Operation Monitoring Mining Farms Data Monitoring Profit Management System Mining Pool Saas Service Technical Service Notes: 1. Self - operated mining farms starting from February 2022. 18 Mining Farms Contracted Self - operated Miner Self -
Slide 19: One-Stop Mining Solution for All Customers
1 BitFuFu offers its users a one - stop cloud - mining and miner hosting service. - BitFuFu manages all operations for customers, including miner purchase, transportation maintenance and electricity bill payment - Customers can view and manage mining status in real time on their mobile phones. Custo
Slide 20: Globally Distributed Mining Data Center Ensures Stable Power Supply
Globally Distributed Mining Data Center Ensures Stable Power Supply 8MW 30MW 10MW 50MW 2MW 20MW 10MW 10MW Planned Farms in USA (2022) Notes: 1. Maximum 300MW contracted. Delivery schedule for the rest subject to adjustments. 2. Facilities located in Kazakhstan will be gradually transferred to other
Slide 21: The Aladdin System - Industry Leading Technology Platform
The Aladdin System - Industry Leading Technology Platform Standardization Transparency Flexibility Security BitFuFu Mining Platform BitFuFu Dispatcher Engine BitFuFu Proxy System BitFuFu Sentry Antpool F2Pool Poolin A laddin Mining Pools • Aladdin is the ultra - large s cale hashrate management and
Slide 22: Operational Flexibility to Manage Market Volatility
Operational Flexibility to Manage Market Volatility Adapt each business sector to maintain revenue growth and increase profit margin when navigating market volatility Diversified Revenue Streams to Manage Volatility from Bitcoin Price Fluctuations Cloud - Mining Self - Mining Miner - Hosting 22 Mine
Slide 23: Growth Strategy
Growth Strategy Supply Chain Consolidation and Vertical Integration Scale Mining Farms with ESG Focus Upgrade Service Capability Keep improving the integration capabilities of the supply chain and develop high - quality partners. Higher clean energy supply planned in 2022 worldwide, focusing on rene
Slide 24: Proven Track Record of Financial Performance
Proven Track Record of Financial Performance 24
Slide 25: Scaling the Business While Delivering Results
Scaling the Business While Delivering Results 100 330 2021 2022E Revenue (in Millions USD) 33,000 55,000 45,000 2021 2022E Number of Mining Machines Manage for third-party Self-owned Miners Notes: 1. Unaudited results as of December 31, 2021, based on BitFuFu ’ s management estimates. 2. Management
Slide 26: Financial notes and non-GAAP definitions
Notes: 1. Unaudited results as of December 31,2021, based on the management estimates. The company started operations in December 2020. 2. Management estimated results for 2022, assuming a Bitcoin price at $45,000 during 2022, based on a 30 - day average of the close price of BTC at $45,216.4, endin
Slide 27: Execution-Minded, Experienced Management Team
Execution - Minded, Experienced Management Team 27
Slide 28: Experienced Management Team
Experienced Management Team 28 With rich knowledge in finance and technology, the BitFuFu team is comprised of members from industry - leading traditional financial institutions, internet giants and blockchain unicorn s BitFuFu Team Leo Lu CEO, Director • Leader in the blockchain and finance industr
Slide 29: BitFuFu: The Future Is Mine
BitFuFu The Future Is Mine 29
Slide 30: Pro Forma Ownership, Valuation and Sources & Uses
BitFuFu Shareholders 90.2% PIPE Investors 4.2% SPAC Public Shareholders 4.4% SPAC Sponsor & Others 1.2% Pro Forma Valuation Particulars Amount ($m) Share Price $10.0 Pro Forma Shares Outstanding 2 166.3 Pro Forma Equity Value $1,663.1 (+) PF Debt - ( - ) PF Cash 3 $(140.1) ( - ) Market Value of Cryp
Slide 31: Peer Valuations - Significant Discount to Comparables
0.01x 0.01x 0.13x 0.04x 0.07x 0.00x 0.05x 0.10x 0.15x 0.20x 0.25x 0.30x $151.0 $183.0 $241.2 $235.2 $217.8 -$1.0 $49.0 $99.0 $149.0 $199.0 $249.0 $299.0 3.2x 3.4x 4.5x 4.4x 4.1x 0.0x 1.0x 2.0x 3.0x 4.0x 5.0x 6.0x $15,104.8 $18,300.5 $22,726.5 $16,566.2 -$1.0 $4,999.0 $9,999.0 $14,999.0 $19,999.0 $24
Slide 32: Risk Factors (1/8)
Risk Factors (1/8) This presentation (this “Presentation”) is provided solely for information purposes only and does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase any equity or debt . It has been prepared to assist interested parties in making th
Slide 33: Risk Factors (2/8)
Risk Factors (2/8) 8. BitFuFu may be vulnerable to security breaches, or be exposed to cybersecurity threats, which could disrupt its operations, subject it to customers’ claims, and materially and adversely affect its business, financial condition and results of operations . 9. A slowdown in the de
Slide 34: Risk Factors (3/8)
Risk Factors (3/8) 22. Any failure in the critical systems of BitFuFu’s facilities or its cloud - mining service platform could disrupt BitFuFu’s business and cause damages to its customers, which may subject it to legal liabilities and harm its reputation, all of which could have a material adverse
Slide 35: Risk Factors (4/8)
Risk Factors (4/8) 37. BitFuFu has not determined whether its existing internal controls over financial reporting systems are compliant with Section 404 of the Sarbanes - Oxley Act, and it cannot provide any assurance that there are no material weaknesses or significant deficiencies in its existing
Slide 36: Risk Factors (5/8)
Risk Factors (5/8) 50. A particular digital asset’s status as a “security” in any relevant jurisdiction is subject to a high degree of uncertainty, and BitFuFu may be subject to regulatory scrutiny, investigations, fines, and other penalties if it is deemed to be dealing with “ security,” which may
Slide 37: Risk Factors: Relating to Arisz and the Proposed Business Combination
Risk Factors ( 6 /8) Risk Factors Relating to Arisz and the Proposed Business Combination Other risks and uncertainties include : changes in domestic and foreign business, market, financial, political and legal conditions; the impact of the Covid - 19 pandemic; the inability of the parties to succes
Slide 38: Risk Factors: Risks Relating to PubCo
Risk Factors ( 7 /8) Risks Relating to PubCo 1. Currently, there is no public market for the ordinary shares of PubCo . There is no assurance that an active trading market will develop for or of the market price of the ordinary shares of PubCo they will receive or that PubCo will successfully obtain
Slide 39: Risk Factors: Dual-class shares and ADS risks
Risk Factors ( 8 /8) 39 17. PubCo may adopt a dual - class share structure with different voting rights, which may adversely affect the value and liquidity of the ordinary shares. 18. If PubCo adopts a dual - class share structure with different voting rights, this will limit your ability to influen