Priced at $1.35 per share, the PIPE represents a 121 percent premium over Asset Entities’ (ASST) previous closing price. The deal structure includes no debt, allowing Strive to preserve future borrowing capacity and maximize equity-driven returns.
The new $222 million fund is backed by just 15 limited partners, primarily composed of high-net-worth individuals and family offices.
According to Arch Labs, the new virtual machine will handle off-chain computations to enable Turing-complete smart contracts directly on Bitcoin’s base layer. This would eliminate the need for external scaling solutions and offer Solana-like transaction speeds while maintaining Bitcoin’s security infrastructure.
MGX, an AI-focused fund launched last year, is chaired by Sheikh Tahnoon bin Zayed al-Nahyan, the UAE’s national security adviser and a key figure in the country’s push for artificial intelligence-driven economic diversification.
If successful, this latest fundraising round would bring Crusoe’s total funding to approximately $1.5 billion, combining equity and debt. In 2022, the company raised $200 million in debt, using its data center chips as collateral to acquire AI processors.
