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US mining company Crusoe Energy Systems has just acquired the operating assets of Great American Mining (GAM), a company that mines Bitcoin using gas as fuel, according to the press release.
As a result of the transaction, whose amount has not been disclosed, Crusoe will increase its available capacity by 10 MW and its fleet of ASIC miners by 4,000 units.
GAM uses technology similar to Crusoe's by installing mobile mining containers near oil rigs. The modules burn flue gas to power crypto mining.
With the help of GAM's fleet, the Colorado-based company will increase its mining capacity by about 9%.
Crusoe will also gain through the acquisition business relationships with several major oil and gas companies in the Bakken shale oil field in North Dakota and Montana.
GAM's manufacturing facility in Louisiana will be Crusoe's new R&D center.
24 specialists from the acquired company will join Crusoe.
