Tag Archive : Crusoe Energy Systems

Winklevoss Capital, Peter Thiel’s Founders Fund, and Polychain Capital Back Bitcoin Mining as Digital Flare Mitigation Services

Crusoe Energy Systems, which converts natural gas to energy-intensive computing from its Denver base, has landed capital to build a new bitcoin mining facility.

The company plans to install 70 units next year, each having a capacity of about 1 megawatt (MW). Chase Lochmiller, Crusoe CEO, told Bloomberg in an interview on Saturday that Crusoe raised $70 million in fresh capital to fund its projects.

The new capital comes from two rounds, including $30 million in equity funding and $40 million in project financing. Bain Capital Ventures, already an invstor in Crusoe, KCK Group, Peter Thiel’s Founders Fund, Winklevoss Capital, and Polychain Capital took part in the fundraising. New York-based credit fund Upper90 led the $40 million round. Read More


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