Crusoe Energy Systems Inc, a bitcoin mining company, has closed its $350 million Series C funding round.

Managed by G2 Venture Partners. Participants include: Valor Equity Partners, Lowercarbon Capital, Polychain Capital, Bain Capital Ventures, Founders Fund, MCJ Collective, Winklevoss Capital and others.

One of Crusoe’s new investors is Hollywood star Robert Downey Jr.’s FootPrint Coalition Ventures.

In addition to raising equity, the company received lines of credit of up to $155 million from SVB Capital, Sparkfund and Generate Capital.

Crusoe will use the funds to expand its business outside of the US, accelerate the launch of the CrusoeCloud cloud computing solution, and expand its team from 157 to 250 people by the end of 2022.

According to a press release, Crusoe has installed 86 modular Digital Flare Reduction units. Mobile data centers have reduced methane emissions by 99.89% by preventing the explosion of approximately 71 million m³ of gas. Conventional waste disposal technology releases significant unburned amounts of this greenhouse gas.

Crusoe’s fleet of installations can reduce CO equivalent emissions_2nd 650,000 tons per year. According to the company’s estimate, this is comparable to removing 140,000 vehicles from the roads.

“Stopping methane emissions from fire is an urgent and effective step towards mitigating climate change. Crusoe technology turns gas into valuable computing resources,” said Ben Kortlang, partner at G2 Venture Partners.

In May 2019, Crusoe raised $4.5 million in a seed round involving venture capital firms Peter Thiel and the Winklevoss brothers. In December of that year, the firm raised $70 million and announced the distribution of 70 Digital Flare Reduction installations.

Recall that Crusoe partnered with ExxonMobil on the oil giant’s pilot project to mine bitcoin using flare gas energy in North Dakota.