Bitcoin miner Crusoe Power Programs has acquired electrical producer Easter-Owens Electrical Co in a bid to vertically combine the corporate.
The Denver-based miner operates modular 100 knowledge facilities, utilizing pure gasoline that will in any other case be flared.
Easter-Owens’s acquisition will enable Crusoe to optimize manufacturing throughput, capability, value, high quality and provide chains, the corporate mentioned Wednesday. It is going to additionally assist pace up the method of prototyping new knowledge heart programs.
“Crusoe and Easter-Owens have labored collectively carefully for a number of years, and we see many strategic alternatives by way of the combination of Easter-Owens’ design and manufacturing capabilities into Crusoe’s enterprise,” mentioned Crusoe’s co-founder and CEO, Cully Cavness.
Easter-Owen’s worker base of greater than 70 will probably be built-in into the Crusoe group, per a press launch. The monetary phrases of the deal weren’t disclosed.
Crusoe just lately raised $505 million in a Sequence C spherical to speed up the expansion of its mining operation. On the time, the corporate mentioned that it deliberate to broaden its workforce to 250 folks by the top of the yr.
The corporate began a pilot undertaking in North Dakota with oil and gasoline behemoth Exxon. It includes changing gasoline into energy cellular mills used for mining operations on-site.