TechFlow news — Crusoe Energy, a clean energy-powered mining startup, has raised $350 million in Series C funding at a post-money valuation of $1.75 billion. The round was led by G2 Venture Partners, which focuses on sustainable energy investments, with participation from Bain Capital Ventures, Polychain Capital, and Winklevoss Capital. The $1.75 billion valuation reflects the company's equity value and does not include a $155 million credit facility from SVB Capital, Generate Capital, and Sparkfund.
Crusoe powers its Bitcoin mining operations using energy derived from natural gas, operating 86 gas-powered data centers across North Dakota, Montana, Wyoming, and Colorado—regions rich in oil resources. The company plans to operate more than 180 such facilities by the end of this year. Additionally, it is expanding into cloud computing, aiming to diversify into markets with less cyclical demand.
