Firmus has secured $2 billion in fresh equity funding to expand its artificial intelligence infrastructure business across Australia and the Asia-Pacific region. The financing increased the company’s post-money valuation above $10.5 billion and strengthened support for its regional expansion plans. The capital will accelerate new AI factory projects while reinforcing Firmus’ shift from Bitcoin mining toward high-performance computing services.
Firmus Directs Fresh Capital Toward AI Factory Expansion
Firmus completed the equity round with full commitments from existing backers Coatue and Nvidia. Meanwhile, funds managed by Blackstone Tactical Opportunities and other Blackstone vehicles joined the financing. Jane Street also participated and expanded the group of institutional supporters backing the company.
The funding almost doubled Firmus’ valuation from the $5.5 billion recorded during its April financing round. As a result, the company has raised more than $3 billion in equity over the past year. The additional capital will support Project Southgate and wider infrastructure development across Australia.
Firmus plans to accelerate the next stage of Project Southgate with the newly secured funding. At the same time, the company will prepare selected projects across the Asia-Pacific region. Early development work has also started on an Indonesian project designed for AI-focused customers.
Manufacturing Strategy Supports Regional Deployment
Firmus has already established Australian manufacturing for its proprietary HyperCube infrastructure platform. The company uses Nvidia’s DSX AI Factory Reference Architecture to build its computing systems. Consequently, the design supports faster deployment while improving energy efficiency and operational resilience.
The latest financing also strengthens Firmus’ partnership with Nvidia beyond infrastructure deployment. In June, both companies expanded their relationship through a cloud infrastructure agreement. Under that arrangement, Firmus agreed to purchase Nvidia systems while delivering cloud services powered by the company’s technology.
Australia remains the center of Firmus’ expansion strategy despite broader regional ambitions. The company plans to use its manufacturing capability and software platform to speed domestic deployments. Afterward, it expects to extend additional infrastructure projects across selected Asia-Pacific markets.
AI Infrastructure Continues Attracting Institutional Capital
The latest financing reflects growing demand for companies building physical AI infrastructure instead of traditional technology businesses. Large financial firms have increasingly supported data centers, computing capacity, and electricity infrastructure. These assets continue gaining importance as artificial intelligence services require greater processing power.
Former Bitcoin mining companies have also accelerated their transition toward AI infrastructure during the past year. Core Scientific agreed earlier this year to provide AMD with up to 2.5 gigawatts of future data center capacity. The agreement will begin in 2027 and supports the company’s ongoing business transformation.
Other companies have also expanded their AI strategies through infrastructure investments. IREN acquired Spain-based Nostrum Group in June and added approximately 490 megawatts of secured grid-connected power. Meanwhile, Hyperscale Data sold about 100 Bitcoin and secured a Bitcoin-backed credit facility for its Michigan AI campus.
Firmus stated that Australia will remain the primary destination for most of the newly raised capital. The company believes its existing production capacity will support faster deployment before additional regional expansion begins. Firmus also confirmed that the transaction remains a private financing rather than a public securities offering under United States securities regulations.
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