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Firmus Technologies, the Australian startup that pivoted from crypto mining to AI infrastructure, is building its first data center in Indonesia through a partnership with Nvidia. The move marks another chapter in the company’s expansion across the Asia-Pacific region.
For a company that didn’t exist before 2019, Firmus has moved fast. It has raised over $1 billion in total funding, counts Nvidia as both a hardware partner and an investor, and recently hit a $5.5 billion valuation.
From crypto mining to AI powerhouse
Firmus Technologies started life focused on cryptocurrency mining before redirecting its expertise toward building AI-optimized data centers. In April 2026, Firmus closed a $505 million funding round led by Coatue, with Nvidia participating as an investor. That single raise pushed the company’s valuation to $5.5 billion.
Firmus deploys Nvidia’s GB300 GPUs across its data center operations. The flagship effort is Project Southgate, a plan to build multi-gigawatt data center capacity in Australia by 2028. The initial phase alone carries an AU$4.5 billion price tag. The project spans sites in Tasmania and Melbourne, with an emphasis on immersion and liquid cooling techniques that reduce energy consumption compared to traditional air-cooled facilities.
Why Indonesia, and why now
Firmus already has operations in Singapore, which serves as a regional hub for data center providers across Asia.
What this means for the AI infrastructure market
Firmus has leaned into energy efficiency by prioritizing immersion cooling and liquid cooling rather than relying solely on traditional air conditioning. Operators like CDC and STT GDC, both of which have partnerships with Firmus, are part of the competitive landscape racing to meet demand across Asia-Pacific.
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