crusoe

AI data center startup Crusoe has signed a cloud services agreement worth approximately $13 billion with quantitative trading firm Jane Street Group, lasting five years. According to the agreement, Crusoe will provide Jane Street with advanced AI chip clusters (GPUs) and other infrastructure necessary for AI training and inference through its cloud platform. Jane Street has become one of Crusoe's largest cloud business clients to date.The agreement has also further heightened investor interest in Crusoe's latest financing. Reports indicate that Crusoe has recently completed over $3 billion in financing, with the company's valuation at approximately $30 billion. Crusoe initially utilized wasted natural gas from the energy sector to power cryptocurrency mining, and has since shifted to the AI infrastructure sector, establishing AI computing collaborations with companies such as Meta and Oracle.

According to TechCrunch, AI data center developer Crusoe has completed a $3 billion financing round, achieving a valuation of $30 billion, led jointly by Atreides Management and Valor Equity Partners, with participation from Mubadala Capital, a subsidiary of the Abu Dhabi sovereign wealth fund.Crusoe's clients include Meta, Microsoft, and OpenAI, and it recently signed a five-year, $13 billion GPU and AI infrastructure cloud contract with quantitative trading giant Jane Street. This financing comes just 10 months after raising $1.38 billion at a $10 billion valuation last October. Founded in 2018, Crusoe initially utilized stranded natural gas for Bitcoin mining and later transformed into an AI infrastructure and cloud service provider, known for developing ultra-large-scale data center campuses. Axios reported last month that Crusoe has met with investment banks such as Goldman Sachs and Morgan Stanley to discuss a potential IPO in the near future.

According to Reuters, AI data center Crusoe Energy Systems is negotiating a new round of financing of approximately $3 billion. After this round of financing is completed, the company's valuation is expected to triple compared to the previous round, reaching around $30 billion.Crusoe was founded in 2018, initially starting with cryptocurrency-related business, and later transformed into a provider of AI infrastructure and data center services. It is currently classified as one of the "neocloud" new cloud computing enterprises, focusing on providing computing power support for generative AI. The company has signed computing power supply contracts with tech giants including Meta and Oracle, and as the demand for AI infrastructure construction surges, its computing power business continues to expand.Previous public information shows that Crusoe completed approximately $1.38 billion in financing last year, with a valuation exceeding $10 billion. If this round of financing is successfully completed, it will become another large-scale capital move in the AI infrastructure sector. Market participants expect that the final valuation of this round of financing may fall around $30 billion, but the transaction is still ongoing and has not yet been finalized.

ChainCatcher news, AI infrastructure company Crusoe announced the completion of an initial raise of $1.375 billion in Series E funding, led by Valor Equity Partners and Mubadala Capital, with participation from 137 Ventures, 1789 Capital, Activate Capital, Altimeter Capital, Fidelity Management & Research Company, Founders Fund, Franklin Templeton, and others. The new funds will be used for the construction of its data centers.Previously, Crusoe was involved in the Bitcoin mining business and received investments from several companies in the cryptocurrency industry, but in March of this year, it sold its Bitcoin mining operations to NYDIG.

ChainCatcher news, Bitcoin financial services company NYDIG announced that it has reached a final agreement to acquire Crusoe's Bitcoin mining business. The acquisition includes 270 megawatts of power generation technology that can convert associated natural gas into mining power. After the transaction is completed, the Crusoe team will be integrated into NYDIG's power and Bitcoin mining division, and both parties will continue to maintain strategic cooperation in the AI data center field.NYDIG's parent company Stone Ridge holds 10GW of natural gas assets in the United States, and this acquisition will create synergies with its energy business. Crusoe's "digital emissions reduction" technology has been deployed in over 20 mining sites across 7 states in the U.S. and Argentina. NYDIG founder Ross Stevens stated that this integration will reduce the operational costs of Bitcoin network security while promoting the efficient use of energy resources.

ChainCatcher news, AI infrastructure company Crusoe Energy is about to complete a $500 million equity financing, led by billionaire Peter Thiel's Founders Fund. This round of financing brings the company's valuation to $3 billion, doubling from two years ago.In the previous weeks, Crusoe Energy just announced a $3.4 billion joint venture agreement with Lancium Clean Campus to build data centers in Texas.

ChainCatcher news, Bitcoin mining company Crusoe Energy announced a $200 million asset-backed financing commitment from investment firm Upper90. The funds raised are planned to be specifically used for further purchasing GPUs (NVIDIA H100 Tensor Core GPUs) to expand cloud operations. Upper90 is responsible for providing all the funds for this debt financing, and the additional GPU capacity is expected to be available to customers in the first quarter of 2024. Additionally, it has been reported that Upper90 is a hybrid credit fund company that specializes in providing financing solutions for startup technology companies.According to the crypto data platform RootData, Bitcoin mining company Crusoe Energy has raised over $630 million in total investments.

ChainCatcher news, according to CoinDesk, Bitcoin mining company Crusoe Energy has acquired mining company Great American Mining (GAM). Under the acquisition agreement, Crusoe will take over all of GAM's assets, including a 10MW power supply, approximately 4,000 ASIC miners, and more. (Source link)