Bitcoin Miner Crusoe Acquires Power System Manufacturer Easter-Owens

American mining company Crusoe Energy Systems has acquired a manufacturer of modular data centers andspecialized power systems Easter-Owens Electric.

The parties did not disclose the amount of the transaction.

Crusoe operates approximately 100 modular Digital Flare Mitigation rigs for bitcoin mining. They run on energy from the burning of flare gas in the oil fields.

According to a press release, the acquisition follows several years of close collaboration between the firms. Since 2020, the manufacturer has been the main supplier for the mining firm.

The Easter-Owens integration is expected to enable Crusoe to optimise plant production, cost, quality and supply chains. 

The takeover will also allow faster production of prototypes of new devices, according to the mining company.

The Easter-Owens team of around 70 will join the Crusoe team of 172.

Mining firm plans additionalinvest 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.

Recall that in April, Crusoe raised $350 million in a Series C funding round.

The company has partnered with oil giant ExxonMobil in a pilot project to use flare gas to mine bitcoin.

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