NYDIG has acquired Crusoe's Bitcoin mining operations to enhance its efficiency and sustainability in bitcoin mining through stranded energy utilization.

Target Information

NYDIG, a prominent firm at the intersection of bitcoin and power, has announced a definitive agreement to acquire Crusoe’s Bitcoin mining operations. This acquisition includes over 270MW of power generation technology that delivers near-zero direct costs of electricity. This expansion aims to enhance NYDIG's role in ensuring the security of bitcoin's proof-of-work system. Furthermore, NYDIG plans to integrate and expand the talented team responsible for pioneering Crusoe’s bitcoin mining business, reinforcing NYDIG's commitment to advancing the global economy through innovation in power, computation, and effective monetary systems.

Crusoe has seen rapid growth since its establishment, with a robust operation that includes more than 20 mining sites across seven U.S. states and a joint venture in Argentina. The integration of Crusoe’s Digital Flare Mitigation (DFM) technology allows for the conversion of natural gas that would have been flared into electricity, driving the operations of advanced, modular data centers. This synergy between NYDIG and Crusoe is expected to bolster NYDIG's existing Power & Bitcoin Mining division significantly.

Industry Overview in the United States

The bitcoin mining industry in the United States has evolved rapidly alongside technological advances and a growing acceptance of cryptocurrencies. The competitive landscape has intensified as firms explore efficient energy solution