Data center developer Crusoe has raised a staggering $3.9 billion, valuing the company at $30.9 billion. The funds will be used to build massive data centers and modular ‘AI factories’ that can be transported by truck, bringing AI computing power to almost any location.

Crusoe, founded in 2018 as a crypto mining operation, has pivoted to AI infrastructure, serving big tech players like Meta, Microsoft, and Oracle. The company’s co-founder Chase Lochmiller believes that AI will usher in an era of abundance, but it will require controlling the infrastructure from electrons to tokens.

With a three-pronged business model that includes leasing data center space, renting its own GPUs, and selling compute power, Crusoe has attracted major investors such as Atreides Management, Mubadala Capital, and Valor Equity Partners. The company has already signed a $13 billion cloud contract with Jane Street, a quantitative trading firm.

Crusoe’s new Spark modular data centers could help the company sidestep local community protests, a common issue for traditional data center developers. The company is also considering an IPO in the near future, according to reports.

The fresh fundraise comes 10 months after Crusoe raised $1.38 billion. With this latest round, the company plans to finance existing projects and build a more versatile computing infrastructure that can be deployed quickly and efficiently.