Bitcoin Miner Crusoe Energy Adds Law Chief Amid Expansion Talks
Crusoe Energy Systems Inc. has hired Jamey Seely as the company’s general counsel, months after reports that it sought additional financing to expand Bitcoin mining operations.
Seely was most recently general counsel of animal health tech company Covetrus Inc. Before that she worked for recruiting firm BarkerGilmore LLC.
Denver-based Crusoe was in talks with investors about seeking a loan of $100 million to $125 million backed by its Bitcoin mining and generation equipment to expand its operations, Bloomberg News reported in July. The company uses excess gas at drilling sites to power data centers and crypto mining.
“I feel strongly about the company’s environmental mission to reduce flaring, cut emissions and eliminate waste throughout the energy industry,” Seely said in a Friday statement. “My background will only help to accelerate what is already a great deal of momentum towards these goals.”
Bitcoin mining is notorious for using large amounts of energy. Bloomberg estimates that by the end of 2021, the Bitcoin network will have used as much energy as Pakistan.
Crusoe also uses captured gas byproducts to power artificial intelligence and deep learning, according to its website. It counts Devon Energy Corp., Kraken Oil & Gas LLC, and Enerplus Corp. among its clients.
In her new job, Seely will work on issues such as transaction structuring, fundraising, and intellectual property management, according to the company statement.
“Jamey’s track record of leadership is very substantial,” said Crusoe President and co-founder Cully Cavness in the statement, citing her work in initial public offerings, transaction negotiations and patent management.
Seely has also worked at Integra Ledger, Gates Corp., ION Geophysical, NRG Energy, Inc., Nuclear Innovation North America LLC, and Direct Energy. She was also a partner at Thompson & Knight, now Holland & Knight early in her career.