{"id":125818,"date":"2025-03-26T04:17:45","date_gmt":"2025-03-26T04:17:45","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=125818"},"modified":"2025-03-26T04:17:45","modified_gmt":"2025-03-26T04:17:45","slug":"crusoe-to-sell-bitcoin-mining-business-to-nydig-to-focus-on-ai","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=125818","title":{"rendered":"Crusoe to sell Bitcoin mining business to NYDIG to focus on AI"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsCrusoe Energy, a company that captures waste gas from oil to power high-performance compute, is selling its Bitcoin mining business to New York Digital Investment Group (NYDIG) to focus on artificial intelligence.\u00a0<br \/>\nIn a March 25 announcement, Crusoe said it plans to sell its Bitcoin (BTC) mining operation,\u00a0 including its digital flare mitigation business, to NYDIG, subject to regulatory approvals and other consents.\u00a0<br \/>\nThe deal includes Crusoe\u2019s 270 megawatts of power generation technology from more than 425 modular data centers across the United States and Argentina, along with 135 Crusoe employees who will join NYDIG, as no roles will be eliminated as a result of the transaction.\u00a0<br \/>\nCrusoe was founded in 2018 and pioneered technology that captures waste gas created during oil extraction and refinement that would be normally burned off in a process called gas flaring in order to power Bitcoin miners.<br \/>\nPhoto of gas flaring in action. Source: Crusoe EnergyIt converts the gas or \u201cstranded energy\u201d into electricity used to power the high-performance compute required for Bitcoin mining and AI data centers. Some reports suggest that Crusoe\u2019s Bitcoin mining operation accounts for 1% of the world\u2019s Bitcoin mining.\u00a0<br \/>\nCrusoe\u2019s AI expansion plans<br \/>\nHowever, Crusoe says it now wants to focus its tech on building out AI infrastructure.\u00a0<br \/>\n\u201cThe AI business \u2014 it\u2019s become the majority of our revenue,\u201d Cully Cavness, the co-founder, president and chief operating officer of Crusoe, told CNBC.\u00a0<br \/>\nThe company recently expanded its AI data center in Abilene, Texas, to 1.2 gigawatts around the same time it announced a joint venture with investment firm Engine No. 1 to develop large-scale data center campuses across the US to build out AI capabilities.<br \/>\nSource: Matthew SigelLast year in December, it closed $600 million in a Series D round at a $2.8 billion valuation to power AI.\u00a0<br \/>\n\u201cWe see a huge opportunity in front of us, and we have a big advantage and a big head start with what we\u2019ve already announced \u2014 and more coming soon,\u201d added Cavness.\u00a0<br \/>\nRelated: Tokenized US gold could ultimately benefit Bitcoin: NYDIG<br \/>\nNYDIG said that the acquisition of Crusoe\u2019s Bitcoin mining business will help expand its role in supporting Bitcoin\u2019s proof-of-work security.\u00a0<br \/>\nNYDIG founder and executive chairman Ross Stevens said that \u201cit is critically important to keep the Bitcoin network secure, and at the lowest possible cost,\u201d claiming that fiat currencies are \u201ccollapsing against Bitcoin around the world.\u201d\u00a0<br \/>\nMagazine: Ex-Alameda hire on \u2018pressure\u2019 to not blow up Backpack exchange: Armani Ferrante, X Hall of Flame<a href=\"https:\/\/cointelegraph.com\/news\/crusoe-to-sell-bitcoin-mining-business-nydig-to-focus-on-ai?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsCrusoe Energy, a company that captures waste gas from oil to power high-performance compute, is selling its Bitcoin mining business to New York Digital Investment Group (NYDIG) to&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125818"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125818"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125818\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125818"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125818"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125818"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}