In the race to power AI, bitcoin miners are teaming up with energy infrastructure companies in search of new ways to generate returns on their hefty…
Houston-based tech company Lancium and Denver-based Crusoe Energy Systems announced on Thursday morning a multibillion dollar deal to build a 200-megawatt data center just outside Abilene that is designed to"meet the unique needs of AI companies."At full capacity, Lancium President Ali Fenn tells CNBC that this will be one of the largest AI data center campuses in the world, in the latest example that the race to power AI — and leave bitcoin mining behind — is accelerating.
"Data centers are rapidly evolving to support modern AI workloads, requiring new levels of high density rack space, direct-to-chip liquid cooling and unprecedented overall energy demands," said Chase Lochmiller, Crusoe's co-founder and CEO.Mining firms have expansive data centers, with access to fiber lines and large amounts of power across the U.S.
On Tuesday, B. Riley upgraded its stock to buy from neutral and raised its price target on shares to $13 from $0.50, citing the company's recent spate of deals with CoreWeaveto buy Core Scientific for $1.02 billion, not long after the pair announced an expansion of their existing partnership. Core Scientific rejected the bid. The company is currently worth about $2 billion.For years, Crusoe's work has been virtually synonymous with the bitcoin mining industry.
"We're reimagining AI infrastructure from the ground up – from our energy solutions, to the design, engineering and building of our specially-designed AI data centers, to our manufacturing capabilities with Crusoe Industries for key electrical data center infrastructure and ultimately to our purpose-built AI computing stack," he said.
Lancium has patented technology that allows it to turn the demand of energy buyers into a sort of dial that can be incrementally turned up or down in as little as five seconds. This helps to balance out a power grid that has inherently volatile energy sources like wind and solar power.was to bring large-scale loads to locations with the best, abundant renewable energy in order to facilitate the energy transition," said Fenn.
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