Crusoe Energy

Crusoe is a flared-gas Bitcoin miner that has pioneered bitcoin (BTC) mining by using wasted natural gas as a power source.

Crusoe is on a mission to align the future of computation with the future of the climate.

Crusoe Energy Systems was founded in 2018 by Chase Lochmiller and Cully Cavness. The company is headquartered in Denver, Colorado.


rusoe's Digital Flare Mitigation™ service delivers an environmentally sound way to create a beneficial use for otherwise wasted natural gas. Crusoe offers solutions to solve the gas flaring challenge for oil producers without upfront cost or operational complexity.


Crusoe is launching a new cloud computing platform, called CrusoeCloud, where energy-intensive High-Performance Computing (HPC) systems will be powered by flare gas and renewable energy sources.


Crusoe’s customers include Devon Energy (DVN), Kraken Oil & Gas, Canadian oil firm Enerplus (ERF) and others. Notably, Crusoe is reportedly working on a pilot project with Exxon (XOM) to use flared gas at the energy giant’s North Dakota oil wells to power bitcoin mining operations.


Crusoe is backed by Bain Capital Ventures, Winklevoss Capital, Polychain Capital, Valor Equity Partners, G2VP, Upper 90, The KCK Group, Founders Fund, Lowercarbon Capital, SVB Capital, Sparkfund, and others. The company closed $505M in Series C and credit facilities on Apr 21, 2022. This brings Crusoe's total funding to $747.5M to date. The latest round mints Crusoe a unicorn with a valuation of $1.75B post-money.



  • Year founded: 2018
  • Funding Info: $747.5M over 7 Rounds (Latest Funding Type: Series C)
  • Yearly Revenue: NA
  • Employee Size: 51-200
  • Business Valuation: Valued at $1.75B as of Apr 21, 2022
  • City/Town: Denver
  • State: Colorado
  • Country: United States
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