Crusoe Energy Systems, the company that once powered Bitcoin miners with flared natural gas, just announced it holds contracts for nearly 5 gigawatts of AI data center capacity. To put that number in perspective, 5 GW is roughly enough electricity to power 3.7 million homes.
The announcement, made on June 9, came with a notable asterisk: Crusoe has paused development on Project Jade, its 1.8 GW data center campus in Cheyenne, Wyoming. The project, originally announced on July 24, 2025, was designed to scale up to a staggering 10 GW. The pause came at the customer’s request.
From flared gas to flagship AI campuses
Founded in 2018, the company initially built its reputation by capturing natural gas that would otherwise be burned off at oil wells, then using that energy to mine Bitcoin. In March 2025, Crusoe sold its entire Bitcoin mining operation to NYDIG, severing its last connection to the crypto world.
The flagship piece of Crusoe’s portfolio is the Stargate AI data center campus in Abilene, Texas. This project is being developed in partnership with OpenAI and Oracle. Beyond Stargate, Crusoe’s client roster includes Microsoft and energy infrastructure firm Tallgrass. CEO and co-founder Chase Lochmiller has positioned the company as a builder of modular, energy-efficient data centers specifically designed for hyperscale AI clients.
