All of the electricity for the data center comes from 100% renewable, geothermal and hydroelectric energy, with no green energy price premium.
The new financing round, announced today, was led by Icelandic asset management and private equity firm Stefnir. The cash injection will provide Verne Global with the funds to expand its wholesale and co-location services, and help it develop more data-center space in the chilly north.
Verne Global is one of a handful of data-center providers that have trekked north in the hope of taking data and computing workloads from the south with them. One element that makes Iceland potentially attractive to firms with tons of data to store is that energy is dirt cheap in the country but as clean as whistle, sourced almost entirely from geothermal power.
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