Crusoe sells Bitcoin mining to NYDIG

Crusoe Energy is divesting its Bitcoin (CRYPTO:BTC) mining business to New York Digital Investment Group (NYDIG), redirecting resources to artificial intelligence infrastructure.

The March 25 deal includes 425 modular data centers across seven U.S. states and Argentina, along with 270 megawatts of power generation and 135 employees transitioning to NYDIG.

Crusoe pioneered gas flare mitigation, converting waste energy from oil extraction into electricity for Bitcoin mining and AI.

Its mining operations reportedly accounted for 1% of global Bitcoin hashrate, but the company now prioritises AI, which has become its “majority revenue driver.”

The shift follows Crusoe’s $600 million Series D funding in December 2024, which valued the firm at $2.8 billion.

It recently expanded its 1.2-gigawatt AI data center in Texas and partnered with Engine No. 1 to develop large-scale AI campuses.

“It is critically important to keep the Bitcoin network secure, and at the lowest possible cost,” NYDIG founder Ross Stevens emphasised, as the firm aims to bolster Bitcoin’s security via Crusoe’s mining assets.

The acquisition underscores Bitcoin mining’s evolving landscape, where firms like NYDIG consolidate operations to optimise costs and security.

For Crusoe, the exit allows sharper focus on AI—a sector it believes offers greater scalability.

While regulatory approvals are pending, the deal highlights the growing interplay between energy innovation and blockchain, as well as the strategic pivot of firms balancing crypto and emerging technologies.

Crusoe’s legacy in sustainable mining—using stranded energy to power Bitcoin—could influence NYDIG’s operational approach.

However, the broader trend of miners diversifying into AI or energy markets reflects shifting priorities in a post-halving environment.

Whether Crusoe’s AI ventures match its mining impact remains to be seen, but the move signals a strategic bet on high-performance computing’s growth.

At the time of reporting, the Bitcoin (BTC) price was $87,474.83.