Crusoe compute deals

Crusoe and Araico announced a strategic partnership on October 22, 2026, for AI Cloud infrastructure adjacent to the Itaipu substation. The first deployment is planned for mid-2027. Crusoe describes a path to 106 MW of IT capacity and long-term options to expand to approximately 280 MW total, but it does not state when the 106 MW scale-up will be reached. The 106 MW is not initial capacity; the optional 280 MW is not additive and its basis is not specified. No investment amount or compute contract value is disclosed. This is not Araico's separately announced Iguazu AI Campus, and its campus estimates are not assigned here.

Polar and Crusoe report DRA01 as live, with 12 MW of IT capacity powering Crusoe Cloud. The stated capacity is IT load, not campus or utility power. The October 21 report date does not establish the energization date.

Crusoe and Polar plan DRA02 as a separate phase with an additional 40 MW of critical liquid-cooled IT capacity, expected to go live in late 2027. This is a target, not delivery evidence. It is separate from the 12 MW live at DRA01.

The companies plan to run a Crusoe Spark modular data center on Aalo power in 2027 as a proof of concept. They also describe future Aalo Pods and 50 MWe reactor plants, but do not state a data-center power allocation. Aalo's 10 MWe reactor rating is not entered as delivered campus power. No MW, contract value or energization evidence is disclosed for the data center.

Energy Vault began construction on a powered-shell campus for Crusoe Cloud. Phase 1 is contracted for 8 MW and includes ten Crusoe Spark modular data centers. Energy Vault's August 11 filing reports a 1H 2027 commercial-operation target; the July 27 release gave Q1 2027. The release describes expansion potential to 25 MW in Phase 2 and planned site capacity up to 500 MW. Those are not contracted Phase 1 capacity and are excluded from totals. Construction is not energization; no delivered or energized MW is confirmed.

Crusoe and Lancium announced a 1 GW campus for an unnamed hyperscale customer. Construction is expected to start in Q3 2026. This is a separate project from IREN’s Childress campus.

The campus already operates four Crusoe Spark modular data centers on a 12 MW / 63 MWh microgrid. The announced expansion increases the deployment to 24 data centers and describes work with Redwood Energy at 20 MW, but does not state whether 20 MW is incremental or the final power-system total. Do not add this figure to power subtotals until the basis is reconciled. The source reports 99.2% operating availability for the existing system; that is not a new delivery milestone for the expansion.