Crusoe Energy, a Bitcoin mining company based in the United States, is concluding its mining operations to concentrate on the artificial intelligence industry.
As recently announced, Crusoe will transfer 425 of its modular data centers — located in Colorado, North Dakota, Montana, Wyoming, New Mexico, Utah, Texas, and Argentina — with a total power generation capacity of 270 megawatts to the New York Digital Investment Group.
The acquisition also encompasses its Digital Flare Mitigation division, and approximately 135 employees are set to move to NYDIG.
Chase Lochmiller, CEO and co-founder of Crusoe, remarked on the acquisition, stating, “Our innovative approach to energy used for mining aligns perfectly with NYDIG’s bitcoin custody, institutional trading, and mining operations, creating a unified business that holds greater value than the individual components.”
NYDIG, which already has a robust footprint in Bitcoin custody, trading, and mining, intends to maintain and invest in the newly acquired operations. In a separate communication, the firm indicated that this acquisition would bolster Bitcoin’s proof-of-work framework and enhance the long-term security of the network.
Established in 2018, Crusoe Energy was among the pioneers in the U.S. Bitcoin mining sector to utilize surplus natural gas to power the high-performance computing essential for both cryptocurrency mining and AI tasks.
Transitioning to focus on building its AI infrastructure, the company is prepared for this new direction.
Lochmiller added, “We will apply the same energy-first approach to expanding AI infrastructure and promoting the integration of AI into our daily lives.”
Signs of its shift toward AI began to surface in 2024, when Crusoe unveiled a multi-billion-dollar partnership with energy technology company Lancium to construct a 200-megawatt AI data center in Abilene, Texas.
Described as the initial phase of broader development, this facility aimed to leverage up to 1.2 gigawatts of clean energy and support GPU clusters intended for AI training and inference at scale.
At that time, Lochmiller referred to the venture as a remarkable opportunity to “sustainably power the future of AI.” While a specific opening date was not disclosed, the center was anticipated to commence operations in 2025.
Crusoe’s pivot to AI coincides with a growing governmental focus on the sector. Following his return to office in 2025, President Donald Trump has enacted an executive order to promote U.S. leadership in artificial intelligence.