Google buys Crusoe's troubled Wyoming data center
Original: Crusoe sells troubled Wyoming data center project to Google
Why This Matters
Hyperscalers absorbing stalled projects signals limits of independent data center scale-up.
Crusoe confirmed Friday it sold an unfinished Wyoming data center to Google, the same company it had failed to sign as a customer. Google plans to invest $17B to develop the site, while Crusoe raised $3.9B just months later.
Denver-based Crusoe, valued at $30.9 billion, has sold an unfinished data center project in southeastern Wyoming to Google after failing to land Google as a customer for the site. Google had reportedly raised concerns about cost overruns and construction delays under Crusoe's management before opting to take over the project itself rather than lease space in it.
Crusoe had originally announced the Wyoming project with Blackstone-backed Tallgrass, with plans to eventually reach 10 gigawatts of capacity. Google did not disclose the acquisition price but announced a $17 billion investment to develop the campus. Bloomberg first reported the deal in June.
The sale didn't derail Crusoe's broader momentum. The company closed a $3.9 billion funding round in September and continues building a separate data center for Google near Amarillo, Texas. Crusoe's portfolio includes an Abilene, Texas campus for Oracle and OpenAI, a 900-megawatt campus for Microsoft expected online by mid-2027, and a reported $13 billion, five-year cloud deal with trading firm Jane Street. Meta is also a customer.
Founded as a natural-gas-powered crypto mining outfit, Crusoe now earns revenue through data center leasing, GPU rentals, and AI inference compute.