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BitFuFu was founded in December 2020 by Leo Lu. In late 2022, BitFuFu announced plans for a SPAC merger, and in early 2024, the company completed a business combination with Arisz Acquisition Corp. Following this merger, BitFuFu's Class A shares and warrants began trading on Nasdaq on March 1, 2024, under the ticker FUFU and FUFUW.
In March 2025, BitFuFu was announced as one of the largest corporate holdings of the new Bitwise Bitcoin Standard Corporations ETF, representing about 4.0% of the ETF's assets.
In May 2025, the company sponsored the Bitcoin 2025 conference in Las Vegas.