U.S. mining company Crusoe Energy Systems has acquired modular data center and custom power systems maker Easter-Owens Electric.
We’re thrilled to be making Easter-Owens part of the Crusoe team! https://t.co/gSiE1EPJsJ
— Crusoe Energy (@CrusoeEnergy) June 23, 2022
The amount of the deal was not disclosed by the parties.
Crusoe operates approximately 100 modular Digital Flare Mitigation units for bitcoin mining. They are powered by oilfield flare gas.
According to a press release, the acquisition follows several years of close cooperation between the firms. Since 2020, the manufacturer has been the main supplier for the mining firm.
Easter-Owens integration is expected to allow Crusoe to optimize rig production, cost, quality, and supply chains.
Acquisition also The mining company believes that it will allow faster production of prototypes of new devices.
The Easter-Owens team of about 70 employees will join the Crusoe team of 172 people.
The mining company plans to invest additionally in personnel, equipment and technology to improve the performance of the acquired business. The company will also support the fulfillment of all existing third-party Easter-Owens orders.
As a reminder, in April, Crusoe raised $350 million in a Series C funding round.
The company partnered with oil giant ExxonMobil in a pilot project on the use of flare gas for bitcoin mining.
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