AI Infrastructure Company Sues Insurers Over Crypto Mining Theft

Crusoe Energy Systems LLC is suing Markel Group Inc. and several of its insurance units over their refusal to pay for the AI infrastructure company’s losses tied to the theft of its cryptocurrency mining equipment.

The insurers had issued several policies to Crusoe, a Denver-based company that at one point planned to use excess gas from oil field infrastructure sites to power Bitcoin mining. It has since pivoted to AI infrastructure and is set to play a role in the Stargate data center project led by OpenAI, SoftBank Group Corp., and Oracle Corp.

Crusoe suffered a loss of insured crypto …