NYDIG to Acquire Crusoe's Bitcoin Mining Operation
Deal News | Mar 25, 2025 | Globenewswire
NYDIG, a leading bitcoin and power firm, is set to acquire Crusoe's bitcoin mining operation, including its Digital Flare Mitigation (DFM) business. This operation includes the capture of natural gas at oil fields to transform it into electricity for modular data centers. Crusoe, known for its innovative approach in repurposing stranded energy, has significantly reduced greenhouse gas emissions and flaring. Following the acquisition, approximately 135 Crusoe employees will join NYDIG with no job losses anticipated. Crusoe will continue to focus on its AI infrastructure solutions leveraging clean energy. NYDIG sees the acquisition as a strategic alignment that complements its existing bitcoin custody, trading, and mining businesses.
Sectors
- Cryptocurrency
- Energy
- Artificial Intelligence
Geography
- United States – Crusoe's operations and DFM deployments span several states including Colorado, North Dakota, Montana, Wyoming, New Mexico, Utah, and Texas.
- Argentina – One of the countries where Crusoe has deployed modular data centers.
Industry
- Cryptocurrency – Involves bitcoin mining operations which is a significant part of the cryptocurrency industry.
- Energy – The article involves energy, particularly in transforming stranded natural gas via Digital Flare Mitigation to power operations.
- Artificial Intelligence – Crusoe is expanding its AI infrastructure solutions and optimizing AI workloads, relevant to the AI industry.
Financials
- Not Disclosed – The terms of the acquisition transaction between NYDIG and Crusoe.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| NYDIG | Bidding Company | Company | A leading bitcoin and power firm involved in institutional trading and mining operations. |
| Crusoe | Target Company | Company | A pioneer in AI infrastructure using stranded energy for bitcoin mining and AI workloads. |
| Stone Ridge Holdings Group | Other Company | Company | Parent company of NYDIG, focused on alternative asset management. |
| Chase Lochmiller | CEO and Co-founder of Crusoe | Person | Key figure in developing Crusoe's energy-first approach and DFM technology. |
| Tejas Shah | CEO of NYDIG | Person | Overseeing the integration of Crusoe into NYDIG focusing on the intersection of power and computing. |