From Bitcoin to AI: Crusoe Energy Sells Mining Arm to NYDIG
Jamie Redman
Crusoe Energy has sold its bitcoin mining operations to NYDIG to prioritize artificial intelligence (AI) infrastructure development, the companies announced March 25.
From Bitcoin to AI: Crusoe Energy Sells Mining Arm to NYDIG
NYDIG Expands Bitcoin Mining Footprint with Crusoe Acquisition
Reports disclose that the transaction includes over 425 modular data centers across the U.S. and Argentina, capable of generating 270 megawatts of power, alongside Crusoe Energy’s flare gas mitigation technology. Approximately 135 employees will transition to NYDIG, with Crusoe retaining a major equity stake in the combined business.
Crusoe plans to build a 1.2-gigawatt AI data center campus in Abilene, Texas, by mid-2026, powered by renewable energy. Reports note that the company has secured partnerships for 4.5 gigawatts of natural gas power and a $3.4 billion joint venture to support GPU clusters for AI workloads.
The move reflects rising demand for energy-efficient computing, as AI data centers could consume over 8% of global electricity by 2030. Crusoe aims to leverage its expertise in sustainable energy, previously used for bitcoin (BTC) mining, to address AI’s growing power needs in a similar fashion.
The shift contrasts Crusoe’s former reliance on waste gas with its new focus on renewables, targeting carbon-free operations. NYDIG, meanwhile, strengthens its bitcoin mining portfolio, integrating Crusoe’s technology to enhance energy efficiency.
The deal, pending regulatory approvals, highlights evolving priorities in tech and energy sectors, positioning Crusoe as an AI infrastructure leader and NYDIG as a expanded player in bitcoin mining. The once energy-to-crypto enterprise, currently pivoting toward AI, secured $505 million in funding in April 2022, with backing from Robert Downey Jr.’s Footprint Coalition Ventures.
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