{"id":68542,"date":"2022-10-13T16:27:40","date_gmt":"2022-10-13T13:27:40","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=68542"},"modified":"2025-09-07T14:41:31","modified_gmt":"2025-09-07T11:41:31","slug":"crusoe-acquires-bitcoin-miner-great-american-mining","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/crusoe-acquires-bitcoin-miner-great-american-mining\/","title":{"rendered":"Crusoe acquires Bitcoin miner Great American Mining"},"content":{"rendered":"<p>The American mining company Crusoe Energy Systems purchased the operating assets of the Bitcoin mining firm that uses flare gas <a href=\"https:\/\/ru.wikipedia.org\/wiki\/%D0%9F%D0%BE%D0%BF%D1%83%D1%82%D0%BD%D1%8B%D0%B9_%D0%BD%D0%B5%D1%84%D1%82%D1%8F%D0%BD%D0%BE%D0%B9_%D0%B3%D0%B0%D0%B7\">\u043f\u043e\u043f\u0443\u0442\u043d\u043e\u0433\u043e \u0433\u0430\u0437\u0430<\/a> Great American Mining (GAM). The deal value was not disclosed.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">We\u2019re thrilled to welcome <a href=\"https:\/\/twitter.com\/GAMdotAI?ref_src=twsrc%5Etfw\">@GAMdotAI<\/a> to the <a href=\"https:\/\/twitter.com\/CrusoeEnergy?ref_src=twsrc%5Etfw\">@CrusoeEnergy<\/a> team! By joining forces, we\u2019re excited to deliver large scale digital flare mitigation solutions to the energy industry, eliminating <a href=\"https:\/\/twitter.com\/hashtag\/methane?src=hash&#038;ref_src=twsrc%5Etfw\">#methane<\/a> emissions and securing the <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#bitcoin<\/a> network along the way <a href=\"https:\/\/t.co\/6BgIL9IMNL\">https:\/\/t.co\/6BgIL9IMNL<\/a><\/p>\n<p>\u2014 Crusoe Energy (@CrusoeEnergy) <a href=\"https:\/\/twitter.com\/CrusoeEnergy\/status\/1580213663142535168?ref_src=twsrc%5Etfw\">October 12, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As a result of the acquisition, Crusoe will increase its available capacity by 10 MW and its fleet of ASIC miners by 4,000 units.<\/p>\n<p>GAM uses a similar Crusoe technology, deploying mobile mining containers near oil wells. The modules burn flare gas to power the cryptocurrency mining.<\/p>\n<p>Through GAM\u2019s fleet, the Colorado-based company will boost its mining capacity by about 9%.<\/p>\n<p>Through the acquisition, Crusoe will also gain commercial relationships with several major oil and gas companies in the Bakken shale oil play in North Dakota and Montana.<\/p>\n<p>GAM&#8217;s manufacturing facility in Louisiana will become Crusoe&#8217;s new research and development hub. Twenty-four specialists from the acquired firm will join the company.<\/p>\n<p>After acquiring GAM&#8217;s assets, Crusoe will have around 125 deployed mining modules and about 300 employees across six states. The company&#8217;s capacity will allow reductions of CO2-equivalent emissions by about 300,000 metric tons per year. The company&#8217;s Digital Flare Mitigation technology helps burn large volumes of methane compared with traditional flaring at fields.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cCrusoe is an innovative company that has successfully pioneered and scaled large-format technology and operations. They are clearly leaders in this space, and I think they will take our combined business to the next level,\u201d commented Todd Garland, founder and CEO of GAM.<\/p>\n<\/blockquote>\n<p>In June, Crusoe <a href=\"https:\/\/u1f987.com\/en\/news\/crusoe-energy-systems-buys-easter-owens-electric-maker-of-modular-data-centres-and-energy-systems\">acquired the modular data-centre manufacturer<\/a> and the provider of specialized energy systems Easter-Owens Electric.<\/p>\n<p>In April, Crusoe <a href=\"https:\/\/u1f987.com\/en\/news\/crusoe-energy-raises-350-million-in-series-c-to-fund-expansion\">raised $350 million<\/a> in a Series C funding round.<\/p>\n<p>The company <a href=\"https:\/\/u1f987.com\/en\/news\/bloomberg-exxonmobil-involved-in-bitcoin-mining-using-flare-gas\"> became a partner<\/a> of the oil giant ExxonMobil in a pilot project to use flare gas for Bitcoin mining.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news in our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crusoe Energy Systems, an American mining company, bought the operating assets of Great American Mining (GAM), a Bitcoin mining firm powered by flare gas. The deal value was not disclosed.<\/p>\n","protected":false},"author":1,"featured_media":68543,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,1235,26],"class_list":["post-68542","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-mergers-and-acquisitions","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"42","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68542","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=68542"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68542\/revisions"}],"predecessor-version":[{"id":68544,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68542\/revisions\/68544"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/68543"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=68542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=68542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=68542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}