Crusoe, a US-based data center operator that builds infrastructure for AI workloads, is in talks to raise about US$3 billion in a funding round that could value it at around US$30 billion.

According to sources familiar with the matter, the round could value the company at around US$300 billion.

That would be a sharp increase from October, when Crusoe raised US$1.375 billion in an initial series E closing that the company said would bring its expected valuation to over US$10 billion.

Founded in 2018, Crusoe first used captured stranded natural gas to power Bitcoin mining before expanding into graphics processing unit cloud services. The firm later sold its legacy flare-gas and Bitcoin mining business in March 2025 to focus on AI infrastructure.

In June, Crusoe said it had paused development of a data center project in Cheyenne, Wyoming, at a customer’s request after prospective customers, including Google, raised concerns over cost and timing.

🔗 Source: Bloomberg