Mentioned:
Data centres are suddenly on the rise in Europe. But, why?
What’s happening:
- Multiple publicly traded companies have been aggressively investing into new data centres in Europe, which has largely been fuelled by access to cheap renewable power and available grid capacity in the Nordic region
Why it matters:
- Data centres in the United States have started to come under intense political scrutiny and resistance, with New York imposing a moratorium on new permits for data centres above 50 megawatts and Arizona putting out new policies to slow down data centre builds and address concerns around power consumption and potential environmental consequences
Who is making moves:
- Google (NASDAQ: GOOG) just recently struck their first ever binding power purchase agreement for nuclear energy outside of the United States with a 22 year deal with Finland’s majority state-owned power utility company to provide power to their data centres
- Cerebras Systems (NASDAQ: CBRS) just recently contracted up to 165 megawatts of total capacity in Mikkeli, Finland to host their hardware and meet the growing demand for their wafer-scale computing systems
- Bitzero (NASDAQ: AIBZ) recently listed on the Nasdaq after previously striking a deal with digital infrastructure company OneQode for a 15 year lease at Bitzero’s Norway data centre for up to $2.6B USD in total revenue
- Bitdeer Technologies (NASDAQ: BTDR) also struck a major $4.7B USD deal to lease their data centre located in Norway to artificial intelligence infrastructure company Volta over 16 years
Going deeper:
- BitZero’s data centres in Europe are notably powered by low carbon, clean energy that is derived from hydroelectric power in Norway and a grid mix of hydroelectric power and nuclear energy in Finland
- Nvidia (NASDAQ: NVDA) backed data centre company NScale also has a significant data centre portfolio located in Norway and Portugal
