Firmus Technologies, a Tasmania-based company, raised $2 billion at a valuation of $10.5 billion, becoming an AI infrastructure unicorn. The firm, which once operated Bitcoin mining farms powered by hydropower, has executed a major strategic pivot toward building modular AI factories with liquid cooling, optimized for Nvidia’s GPU architectures. The funding round, backed by top-tier investors including Coatue, Nvidia, Blackstone and Jane Street, nearly doubled the company’s valuation from $5.5 billion in April 2026. The capital will primarily fund Project Southgate, targeting data center development across Australia, Indonesia and the broader Asia-Pacific region.
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