Crusoe Energy Systems buys Easter-Owens Electric, maker of modular data-centres and energy systems

The American mining company Crusoe Energy Systems has acquired Easter-Owens Electric, the maker of modular data-centres and specialised energy systems.

We’re thrilled to be making Easter-Owens part of the Crusoe team! https://t.co/gSiE1EPJsJ

— Crusoe Energy (@CrusoeEnergy) June 23, 2022

The terms of the deal were not disclosed.

Crusoe operates about 100 modular Digital Flare Mitigation installations for Bitcoin mining. They run on energy drawn from flare-gas combustion at oil fields.

According to a press release, the acquisition followed several years of close collaboration between the firms. Since 2020, Easter-Owens has been Crusoe’s main supplier.

The integration of Easter-Owens is expected to enable Crusoe to optimise the production of the installations, their cost, quality and supply chains.

The move is also expected to accelerate the development of prototypes of new devices, according to the mining company.

The Easter-Owens workforce of around 70 employees will join Crusoe’s 172-strong team.

The mining company plans to invest further in personnel, equipment and technologies to raise the productivity of the acquired business. The company will also support fulfilment of all existing Easter-Owens third-party orders.

In April, Crusoe attracted $350 million in a Series C funding round.

The company became a partner of the oil giant ExxonMobil in a pilot project to use flare gas for Bitcoin mining.

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