Crusoe Energy Systems LLC

About Crusoe Energy Systems LLC

Financials

Dated, source-cited figures. Estimates are marked.

Products by Crusoe Energy Systems LLC

All products by Crusoe Energy Systems LLC reviewed by our AI panel of experts.

CrusoeAI Cloud

Energy-first AI cloud with on-demand NVIDIA and AMD GPUs and managed inference

From $2/mo8.0/10

How Our Review Panel Scores Crusoe Energy Systems LLC

Six independent reviewer personalities assessed Crusoe Energy Systems LLC's product on their own terms. They landed within 0.8 points of each other, an unusually strong consensus.

Averaged across 1 reviewed product in our catalog. Scores are out of 10.

Competitive Landscape

Who Crusoe Energy Systems LLC competes with, and how they differ.

CoreWeave8.1/10

The closest peer "neocloud" — both lease large-scale NVIDIA GPU capacity to AI labs and hyperscalers on long-term contracts, but CoreWeave IPO'd on Nasdaq in March 2025 while Crusoe stays private and pairs its cloud with in-house power generation (flare gas, natural gas, and newer nuclear/battery deals).

1 product reviewed on TopReviewed

Nebius Group N.V.8.1/10

Targets the same GPU-cloud-for-AI-training market but is Amsterdam-domiciled and Nasdaq-listed, having spun out of Yandex in 2024 with an initial data center footprint in Finland rather than Crusoe's US flare-gas and stranded-power origins.

1 product reviewed on TopReviewed

RunPod8.1/10

Competes for the same GPU-rental developer base with per-second serverless and pod pricing, but targets individual developers and smaller AI teams rather than Crusoe's gigawatt-scale hyperscaler contracts (Stargate, Meta, Oracle).

1 product reviewed on TopReviewed

Cerebras8.0/10

Competes for large AI training and inference budgets with a fundamentally different technical approach — proprietary wafer-scale chips (CS-3) instead of Crusoe's NVIDIA/AMD GPU clusters — and is pursuing its own IPO in 2026.

1 product reviewed on TopReviewed

Groq7.7/10

Competes for AI inference workloads through its own custom LPU chips and API/cloud service, positioning on inference speed and cost per token rather than Crusoe's GPU-cluster rental and large-scale training capacity.

1 product reviewed on TopReviewed

Oracle7.8/10

Oracle Cloud Infrastructure runs its own GPU superclusters that compete with Crusoe Cloud for enterprise AI-training contracts, even though Oracle is simultaneously Crusoe's flagship customer at the Abilene, TX Stargate campus that Crusoe built and operates the physical infrastructure for.

1 product reviewed on TopReviewed

Company Timeline

Key milestones in Crusoe Energy Systems LLC's history, with sources.

1. Oct 24, 2025Funding

   Series E — $1.375B co-led by Valor Equity Partners and Mubadala Capital

   Raised at a valuation above $10 billion, with Founders Fund, NVIDIA, Fidelity, Salesforce Ventures, Tiger Global and others also participating.

   crusoe.ai
2. Sep 30, 2025Milestone

   Flagship Abilene, Texas AI data center goes live

   First phase of the campus, part of OpenAI's Stargate initiative, began running on Oracle Cloud Infrastructure hardware roughly a year after construction started in June 2024.

   crusoe.ai
3. Aug 21, 2025Acquisition

   Acquired Atero

   Bought the Tel Aviv-based GPU utilization and memory-optimization startup (co-founded 2024) to bolster Crusoe Cloud's managed AI services, opening Crusoe's first Middle East office.

   crusoe.ai
4. Jun 11, 2025Funding

   $750M credit facility from Brookfield

   Debt financing to accelerate build-out of AI data centers and the Crusoe Cloud platform.

   crusoe.ai
5. May 21, 2025Partnership

   $15B joint venture with Blue Owl Capital and Primary Digital Infrastructure

   Formed to fund phase two of the Abilene, TX AI data center campus, six additional buildings expanding it to eight, targeted for completion mid-2026.

   crusoe.ai
6. Mar 25, 2025Acquisition

   Sold bitcoin mining business to NYDIG

   Divested its Digital Flare Mitigation bitcoin-mining operation (400+ modular data centers across seven US states and Argentina, ~135 employees transitioning) to focus exclusively on AI infrastructure.

   crusoe.ai
7. Dec 12, 2024Funding

   Series D — $600M led by Founders Fund

   Closed at a $2.8 billion valuation with participation from Fidelity, Mubadala, NVIDIA, Ribbit Capital and Valor Equity Partners.

   crusoe.ai
8. Apr 21, 2022Funding

   Series C — $350M

   Raised while still operating as a flared-gas bitcoin miner, plus up to $155M in additional credit facilities.

   crusoe.ai
9. Apr 26, 2021Funding

   Series B — $128M equity + $40M project financing, led by Valor Equity Partners

   Backers included Founders Fund, Bain Capital Ventures, Coinbase Ventures, Polychain Capital and Tesla co-founder JB Straubel.

   crusoe.ai
10. 2018Founded

    Founded by Chase Lochmiller and Cully Cavness

    Began converting wasted/flared natural gas from oil wells into power for computing, initially bitcoin mining, later pivoting the same entity fully to AI cloud infrastructure.

    crusoe.ai