Crusoe, the AI infrastructure company that ditched Bitcoin mining to build data centers, has reportedly signed a $13 billion cloud computing deal with Jane Street, the quantitative trading firm known for handling a significant share of global equity options volume.
If confirmed at that scale, the agreement would dwarf Jane Street’s previous infrastructure commitments and rank among the largest cloud computing contracts in the industry’s history.
Two companies converging on AI compute
Crusoe began life capturing flared natural gas at oil wells to power Bitcoin mining rigs. In 2024, the company sold off its mining operations entirely and went all-in on AI infrastructure.
Crusoe has contracted roughly 5 gigawatts of AI compute capacity across its facilities. The company’s development pipeline exceeds 40 GW. Its campus in Abilene, Texas has become a focal point of the AI infrastructure buildout. The site is associated with Oracle and OpenAI’s Stargate project, and Microsoft is reportedly leasing approximately 700 megawatts of power there for cloud services.
