Crusoe Energy plans to raise $817,744,542, the company said in a filing with the SEC.
The AI data center startup revealed that it had secured $686m of the raise so far. The filing was first reported by TechCrunch.
“A company at our stage of growth is always talking to investors,” a spokesperson for Crusoe told the publication.
The company reportedly sought to raise around $500m in late October, in a round led by Peter Thiel’s Founders Fund that would value the company at around $3bn. With the raise now increased to $818m, it's not known if the valuation has also increased.
Crusoe launched in 2018 as a cryptomining business that deployed containerized data centers to oil wells to harness natural gas that would otherwise be "flared off" and wasted.
It then expanded to high-performance computing (HPC) and artificial intelligence (AI), and last year signed a deal to locate a number of GPUs in atNorth's ICE02 data center in Iceland.
Since the generative AI explosion, it has joined fellow cryptominers in pivoting to GPU AI clouds. Competitors include CoreWeave, Core Scientific, Northern Data, Hut 8, Earth Wind and Power, and Applied Digital.
In October, Crusoe entered into a $3.4bn joint venture with asset manager Blue Owl Capital to build a huge data center in Abilene, Texas.
The site is planned to be leased to Oracle, who will then rent it to Microsoft, for use by OpenAI.
