Energy Vault has begun construction on the Snyder AI campus in Snyder, Texas. The company is purchasing 10 Crusoe Spark modular data centers from Crusoe and leasing them back as powered shells. Crusoe will sell the computing power at the site through Crusoe Cloud.
The first phase is designed for 8 MW of connected capacity, with commercial operation scheduled for the first quarter of 2027. In the second phase, the site can be expanded to 25 MW.
The key to this deal is timing. Installation and commissioning of Crusoe Spark modules takes weeks, compared to several years for a traditional data center. In a market where the bottleneck has long since shifted from chips to access to electricity and prepared sites, speed of deployment is more valuable than any other characteristic.
For Crusoe, the economics operate in two directions simultaneously: revenue from equipment sales plus access to ready-made capacity for its own clients who train and run models. Energy Vault calls Snyder AI a flagship platform and a template for subsequent projects, meaning the scheme is designed for replication.
For context: in October 2025, Crusoe closed its Series E for $1.375 billion at a valuation of over $10 billion. In July 2026, Bloomberg reported that the company was in talks for a new round of approximately $3 billion; the final valuation had not yet been determined.