Firmus Locks Down $10B Debt Facility for Nvidia-Powered AI Play

Firmus Technologies, an Australian company that started as a Bitcoin miner in Tasmania, has secured a massive $10 billion debt facility from Blackstone and Coatue to fund its aggressive expansion into AI data centers.

The financing will be used primarily to purchase Nvidia AI accelerators, with up to 170,000 chips deployed across the Indonesian campus alone. The campus is expected to go live in Q1 2027 and target a revenue of $25-30 billion over six years from cloud services.

Firmus plans to partner with Nvidia for eight years on this project, with the chipmaker earning revenue through both hardware sales and a share of cloud revenue generated by the facility. The campus will add 360 MW of capacity to Firmus's broader ambition to reach 1.6 GW of total capacity by 2028.

The company's rapid growth has seen its valuation roughly double in four months, from $5.5 billion to over $10.5 billion, following two major equity rounds in August and April 2026.