Robinhood Ventures Fund I has invested roughly $25 million in Crusoe, backing the company's transformation from a Bitcoin mining business into an AI infrastructure provider. The investment closed on August 31 and formed part of Crusoe's $3.9 billion Series F financing, a round that values the company at $30.9 billion and reflects growing investor interest in the infrastructure needed to support artificial intelligence.

Crusoe launched in 2018 with a focus on converting wasted energy into computing power for cryptocurrency mining. The company later sold its Bitcoin mining business to concentrate exclusively on AI infrastructure.

From Bitcoin mining to AI infrastructure

Crusoe now develops AI-optimized data centers and operates a cloud platform built for demanding computing workloads. According to the company, it holds more than $140 billion in contracted value across its vertically integrated platform.

Its infrastructure footprint has also expanded rapidly. Crusoe reports more than 6 gigawatts of contracted capacity across data centers and cloud services, with about 1 gigawatt already operational. That footprint places the company inside one of the defining constraints of the AI buildout: data centers rank among the most power-intensive facilities in computing, and access to energy increasingly shapes where and how AI infrastructure can be built — a challenge Crusoe's original energy-to-compute model was designed around.

Capital from the Series F will help Crusoe expand both large-scale AI campuses and smaller modular facilities known as Crusoe Spark units. The company is also scaling its cloud services as demand for AI computing continues to grow. With about 1 gigawatt in operation against more than 6 gigawatts under contract, the pace at which Crusoe converts its pipeline into running capacity will be a concrete sign of how that expansion executes.

Retail investors gain indirect exposure

The investment also underscores the broader strategy behind Robinhood Ventures Fund I, a publicly traded closed-end fund that gives retail investors exposure to a portfolio of primarily private companies. Trading under the ticker RVI, the fund began listing on the New York Stock Exchange in March 2026. Its portfolio spans technology, financial services, artificial intelligence and other emerging sectors, and the fund does not require investors to meet traditional accreditation requirements.

For Crusoe, the deal adds Robinhood Ventures to a funding group that includes major institutional and strategic investors such as NVIDIA, Founders Fund, GIC and the Qatar Investment Authority. The transaction illustrates how capital is increasingly flowing toward the energy and computing infrastructure required for the AI economy.

Source: CryptoMeter io