Firmus Technologies, the Australian startup that pivoted from crypto mining to AI infrastructure, is building its first data center in Indonesia through a partnership with Nvidia. The move marks another chapter in the company’s expansion across the Asia-Pacific region.
For a company that didn’t exist before 2019, Firmus has moved fast. It has raised over $1 billion in total funding, counts Nvidia as both a hardware partner and an investor, and recently hit a $5.5 billion valuation.
From crypto mining to AI powerhouse
Firmus Technologies started life focused on cryptocurrency mining before redirecting its expertise toward building AI-optimized data centers. In April 2026, Firmus closed a $505 million funding round led by Coatue, with Nvidia participating as an investor. That single raise pushed the company’s valuation to $5.5 billion.
Firmus deploys Nvidia’s GB300 GPUs across its data center operations. The flagship effort is Project Southgate, a plan to build multi-gigawatt data center capacity in Australia by 2028. The initial phase alone carries an AU$4.5 billion price tag. The project spans sites in Tasmania and Melbourne, with an emphasis on immersion and liquid cooling techniques that reduce energy consumption compared to traditional air-cooled facilities.
