Bitcoin Miner Crusoe Closes $500M Series C Equity Offering

Crusoe Funding Round 

According to the official weblog post, Crusoe's $350 million in equity funding included G2 Venture Partners and a group of excellent knowledge, vitality, local weather, and crypto purchasers. It also got a $155 million credit score capacity from the corporation.

The fresh funds will help the company expand its Digital Flare Mitigation data centres, which presently number 86 across the United States and other parts of the world. Simultaneously, the agency wishes to remain associated with transparent computing infrastructure to lower both the costs and the environmental impact of the rapidly growing digital economy.

In addition, the company intends to set up large-scale Bitcoin mining and cloud computing infrastructure. CrusoeCloudTM, a "High-Performance Computing (HPC) cloud" powered by carbon-reducing energy sources, is also expected to benefit from the recently acquired funds. It also plans to grow its workforce to hire at least 250 people by the end of 2022. It now has a membership of 157 people.

Crusoe will be able to expedite renewable energy adoption and continue innovating its technology, according to Ben Kortlang, Partner of G2 Venture Partners. According to reports, the company collaborates with Exxon (XOM) on a trial project to use flared gas from its North Dakota oil wells to power Bitcoin mining operations.

G2 Venture Partners, together with Valor Equity Partners, Bain Capital Ventures, KCK Group, and co-founders Chase Lochmiller and Cully Cavness, will join the Crusoe Board of Directors after the funding is completed.