Firmus Technologies seeks $10B financing for Nvidia chips

An Australian company that got its start mining Bitcoin in Tasmania is now negotiating one of the largest debt facilities in AI infrastructure history. Firmus Technologies has secured a $10 billion debt facility, arranged by Blackstone and Coatue, to fund an aggressive expansion into AI data centers, with a massive new campus in Batam, Indonesia, serving as the centerpiece. The financing is earmarked primarily for purchasing Nvidia AI accelerators, the GPU hardware that has become the oxygen supply for modern AI workloads. 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 mining to billion-dollar AI plays Firmus Technologies launched in 2019 as a Bitcoin mining and cooling specialist operating out of Tasmania. In April 2026, Firmus completed a $505 million equity round at a $5.5 billion post-money valuation. By August 2026, the company raised a fully subscribed $2 billion round that pushed its valuation above $10.5 billion. In the span of about four months, the company roughly doubled in value. The $10 billion debt facility, secured...