Crypto
Firmus Doubles Valuation to $10.5B on AI Infrastructure Bet
A former Bitcoin miner has transformed into a $10.5B AI infrastructure company.
Firmus, which began mining Bitcoin and later repurposed itself to build AI data centers using Nvidia's DSX reference architecture and its own HyperCube hardware platform, raised $2 billion in equity this week at a valuation above $10.5 billion, roughly double where it stood in April.
The company has secured funding from existing backers Nvidia and Coatue, as well as funds managed by Blackstone and Jane Street.
Its flagship program, Project Southgate, aims to target 1.6 gigawatts of AI compute across five sites in Australia by 2028, with the first phase valued at A$4.5 billion and carrying 18,500 Nvidia GB300 GPUs.