Firmus Technologies, an Australian company that started as a Tasmanian Bitcoin miner, has secured a $10 billion debt facility arranged by Blackstone and Coatue. The money will fund the purchase of up to 170,000 Nvidia GPUs for a new AI data center campus in Batam, Indonesia.
Firmus Technologies has secured a $10 billion debt facility, arranged by Blackstone and Coatue, to fund an aggressive expansion into AI data centers. A massive new campus in Batam, Indonesia serves as the centerpiece of that expansion.
The financing is earmarked primarily for purchasing Nvidia AI accelerators. Firmus plans to deploy up to 170,000 of those chips across its Indonesian facility alone, with deliveries expected through 2027 and 2028 and the campus targeting a go-live date in Q1 2027.
From Bitcoin miner to AI infrastructure player
Firmus Technologies launched in 2019 as a Bitcoin mining and cooling specialist operating out of Tasmania. In April 2026, the company completed a $505 million equity round at a $5.5 billion post-money valuation. By August 2026, it raised a fully subscribed $2 billion round that pushed its valuation above $10.5 billion — roughly doubling in about four months.
The $10 billion debt facility, secured in February 2026, sits on top of that equity base.
The Indonesia campus and the Nvidia partnership
The Batam campus, announced on June 29, 2026, will add 360 MW of capacity. That is part of Firmus's broader ambition to reach 1.6 GW of total capacity by 2028 under its "Project Southgate" initiative.
Structurally, the Indonesian project runs as an eight-year partnership with Nvidia. Under the deal's revenue-sharing model, Nvidia earns from both the initial hardware sales and an ongoing cut of the cloud revenue the facility generates.
Firmus plans to offer Nvidia-powered cloud capacity to AI-native customers. The Indonesia campus alone is projected to bring in $25 billion to $30 billion in committed offtake over its first six years of operation.
Source: Crypto Briefing
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