Crusoe has secured new debt funding to fuel its data center and cloud build-out.

The company this week announced it has secured a $750 million credit facility from Brookfield Asset Management, through its infrastructure debt platform.

The financing will primarily be deployed to fuel the development of Crusoe’s planned data centers and AI cloud platform.

"The demand for AI infrastructure is growing exponentially, and this new credit facility from Brookfield provides us with the capital needed to accelerate the build-out of new AI factories," said Chase Lochmiller, CEO and co-founder of Crusoe. "Brookfield’s commitment validates Crusoe’s demonstrated ability to rapidly develop and deliver critical infrastructure to the largest AI projects in the world. This funding will enable us to expand our footprint, and continue to provide our customers and partners with the best-in-class solutions they need to innovate and scale."

“We are excited to partner with Crusoe, a company at the forefront of powering the critical infrastructure needed for AI, including one of the world's largest AI data centers in Abilene, Texas,” added Eric Wittleder, deputy CIO of Brookfield’s Infrastructure Debt business. “Crusoe’s ability to provide backbone infrastructure solutions at scale aligns perfectly with our investment philosophy, and we look forward to supporting their continued expansion and impact in the rapidly evolving AI landscape.”

Crusoe secured a $600 million Series D funding round in December 2024; a $225 million credit facility from Upper90 announced in early 2025 to support its cloud; and a $15 billion joint-venture with Blue Owl and Primary Digital Interactive to fund its gigawatt-scale campus in Abilene, Texas.

Eastdil Secured represented Crusoe as its exclusive financial advisor on the transaction.

Crusoe was founded in 2018 and originally placed cryptomining facilities along oil & gas pipelines, using natural gas that would have otherwise been burned off to mine Bitcoin. In 2023, the company launched a GPU cloud service from colocation facilities, and has since pivoted away from crypto, selling that business to NYDIG.

The company has also begun building permanent data centers for other companies, and is developing a large data center campus in Texas alongside Oracle for OpenAI’s Stargate project. It also previously formed a $5bn joint venture with Chirisa and PowerHouse to develop data centers across the US – mostly for AI cloud firm CoreWeave. Crusoe is also planning a campus in Alberta, Canada.

Crusoe’s cloud operates four cloud regions across the US and Europe: us-northcentral1-a, us-east1-a, us-southcentral1-a, and eu-iceland1-a. The company has partnered with Digital Realty and Equinix in the US and AtNorth in Iceland. This week also saw it announce plans to lease a data center from Polar in Norway.