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Crusoe’s Bitcoin mining operations have been definitively acquired by NYDIG, a leader in Bitcoin infrastructure. With this acquisition, NYDIG’s portfolio will include more than 270MW of power generation equipment, strengthening its position in protecting the proof-of-work network for Bitcoin. Crusoe’s activities are renowned for using Digital Flare Mitigation (DFM) technology to use sustainable energy.
This action furthers NYDIG’s goal of combining innovation in sound money, computing, and power to advance the world economy. Additionally, the two businesses will continue their strategic alliance. NYDIG will contribute with its knowledge of funding solutions, securitization, and financial services, while Crusoe will concentrate on the creation of AI data centers.
As evidenced by its most recent investment-grade credit-rated facility with Bitcoin-collateralized loans, NYDIG has been at the forefront of financial innovations since its founding in 2017. The business’s vertically integrated model includes both mining activities and Bitcoin financial infrastructure.
Additionally, NYDIG has access to more than 10GW of natural gas output through Stone Ridge Energy (SRE) as a member of the Stone Ridge Holdings Group. By using stranded energy sources, this lowers energy costs while guaranteeing a consistent energy supply for its mining activities. This effort is enhanced by Crusoe’s DFM technology, which provides operational and environmental benefits by turning flared natural gas into power.
Crusoe currently operates over 20 Bitcoin mining sites across seven U.S. states and maintains a joint venture in Argentina. NYDIG will integrate these operations under its Power & Bitcoin Mining division, ensuring long-term growth and sustainability.
Ross Stevens, Founder and Executive Chairman of NYDIG, emphasized the importance of this acquisition in ensuring the security of the Bitcoin network. He stated, “With fiat currencies collapsing against bitcoin around the world—and since I founded NYDIG even the U.S. dollar down 97% for Americans and American firms not yet saving in bitcoin—it is critically important to keep the bitcoin network secure, and at the lowest possible cost.”
Crusoe CEO Chase Lochmiller expressed pride in the company’s innovative approach. He noted, “The proof-of-work consensus mechanism in the bitcoin blockchain algorithmically incentivizes the convergence of energy and computing. Crusoe is proud to have been a pioneer in repurposing otherwise wasted energy resources such as gas flaring to power the bitcoin network.”
NYDIG CEO Tejas Shah also praised Crusoe’s accomplishments, stating, “Crusoe has built an extraordinary bitcoin mining business by demonstrating remarkable innovation—bringing together the industry’s top talent to solve complex challenges and unlock untapped energy sources.”
This acquisition signals a major step in NYDIG’s efforts to expand its mining operations while promoting sustainable energy solutions. The collaboration is expected to contribute significantly to the growth and resilience of the Bitcoin network.