US Crusoe in Talks for $3 Billion Funding, Valuation to Reach $30 Billion

en.Wedoany.com Reported - Crusoe is in talks for a new funding round of up to $3 billion. If the deal is completed on the terms under discussion, the company's valuation would roughly triple from its previous round less than a year ago, reaching approximately $30 billion, about three times its prior valuation.

The company did not respond to requests for comment and has not publicly disclosed any terms, structure, or lead investors for this funding round. Due to the large amount involved, the final valuation may still change before the agreement is formally signed.

Crusoe originated as a company that mined Bitcoin by burning stranded gas that would otherwise be flared. It has since sold this crypto business to NYDIG and transformed into a data center builder for AI workloads. This transformation has been validated by a computing deal with Meta, which has committed to providing approximately 1.6 gigawatts of capacity at sites in Childress, Texas, and Warren County, Missouri. Oracle is among other named customers.

Crusoe's last confirmed funding round was a roughly $1.38 billion Series E in October last year, at a valuation exceeding $10 billion, co-led by Valor Equity Partners and Mubadala Capital. That round attracted investors including Nvidia, Founders Fund, Fidelity, Salesforce Ventures, Tiger Global, T. Rowe Price, Franklin Templeton, and Blue Owl, though it has not been confirmed whether these investors are participating in the new discussions.

According to Crusoe's own disclosures, the company has signed capacity of approximately 4.9 gigawatts, with a project pipeline exceeding 40 gigawatts, unaudited by third parties. This funding scale is part of a broader financing wave among AI data center operators, which has also driven competitors like FluidStack to raise $1 billion at an $18 billion valuation and prompted Meta to commit $21 billion in direct financing arrangements to CoreWeave. Despite underlying data centers still under construction, investors are willing to write large checks based solely on signed capacity.

Discussions about Crusoe's eventual IPO have been circulating at least since March this year, when Axios reported that the company was weighing public markets as a future capital option. If this $3 billion private funding round is completed on the described terms, it would reduce near-term pressure for an IPO and provide more room to build the data center capacity required by customers.