Nscale, a European AI cloud company under Bitcoin mining company Arkon Energy, has completed a $155 million financing round, led by Sandton Capital Partners, with participation from Kestrel, Bluesky Asset Management and Florence Capital, to drive its growth plans in Europe and North America.
Nscale officially launched in May 2024. The company offers a GPU cloud based on AMD hardware, specifically AMD's Instinct M1300X accelerator as well as AMD MI250 GPUs and Nvidia's A100, H100 and V100 GPUs. Nscale operates a 60MW data center in a data center in Glomfjord, Norway, which was previously owned by Arkon.
The company said it has expanded its greenfield data center capacity in Europe and North America from 300MW to 1.3GW, with plans to develop 120MW in 2025. Nscale said it will launch a public cloud service in the first quarter of 2025, giving developers access to purpose-built inference and training solutions in a flexible development environment.
Nscale previously acquired Kontena, a provider of high-density modular data centers and AI data center solutions. Arkon previously worked with Kontena to deploy two mining containers at the former's Glomfjord site.
Many crypto companies have at least partially turned to artificial intelligence, including CoreWeave, Core Scientific, Hut 8, TeraWulf and Applied Digital (formerly Applied Blockchain). (DCD)