Crusoe Energy Systems, a Denver-based company that converts natural gas to energy-intensive computing, is set to build a new bitcoin mining facility.
The company will install 70 units next year, each with a capacity of about 1 megawatt (MW), Chase Lochmille, CEO of Crusoe, told Bloomberg in an interview published Saturday. Crusoe has also raised $70 million in fresh capital to fund its projects.
Announced Friday, the new capital comes from two rounds - $30 million in equity funding and $40 million in project financing. The equity round was led by existing investor Bain Capital Ventures and new investor The KCK Group, with participation from Founders Fund, Winklevoss Capital and Polychain Capital. The $40 million round was led by New York-based credit fund Upper90.
Winklevoss Capital also participated in Crusoe's $4.5 million seed round in May, which was led by Bain Capital Ventures. Read More...