Crusoe, an AI infrastructure provider, is expanding its operations in Iceland by increasing the capacity at atNorth’s ICE02 data center. This expansion is supported by a substantial $175 million credit facility secured from Victory Park Capital (VPC), which specializes in private credit investments.
The ICE02 facility is noteworthy for being powered entirely by renewable geothermal and hydroelectric energy, making it ideal for high-performance computing needs while maintaining a focus on sustainability. Crusoe plans to integrate NVIDIA’s latest GPU technology, including state-of-the-art NVIDIA DGX GB200 NVL72 instances and Blackwell GPUs, utilizing Direct Liquid to Chip (DLC) cooling for enhanced efficiency. This addition is aimed at catering to the rising demand for scalable and sustainable AI infrastructure across North America and Europe.
Chase Lochmiller, co-founder and CEO of Crusoe, highlighted the synergy between the clean energy focus of the new facility and the company’s mission. He noted that the financial backing from VPC would enable Crusoe to deploy advanced GPU hardware swiftly to meet growing market demands. Collaboration with atNorth allows the company to harness Iceland’s abundant renewable energy resources to establish a strong AI infrastructure for customers with heavy AI workloads.
Eyjólfur Magnús Kristinsson, atNorth’s CEO, underscored the importance of sustainable practices within the data center industry. He referred to the innovative DLC cooling technology that not only boosts performance but also minimizes energy consumption. The partnership with Crusoe is framed as a commitment to supporting decarbonization efforts while providing AI-ready solutions.
From VPC’s perspective, the firm views Crusoe’s integrated approach to AI and high-performance data centers as a competitive advantage. Connell Hasten, a partner at VPC, emphasized that as the demands on global digital infrastructure grow, supporting Crusoe’s vision of providing clean energy solutions for AI is seen as a pivotal investment for the future.
This expansion is part of Crusoe’s broader strategy initiated in late 2023 to enhance its presence in Europe, which also includes increased capacity in Norway. The ICE02 facility’s low-latency connectivity through several undersea fiber optic cables assures reliable access for enterprises across Europe and North America.
Crusoe Cloud, the company’s platform, is tailored for running advanced AI workloads and is built upon cutting-edge GPU clusters. It offers a reliable and scalable environment, allowing engineers, developers, and data scientists to focus on innovation rather than infrastructure management.
The momentum of this renewable energy-driven expansion, coupled with new financial support, reflects a significant trend in the AI infrastructure sector: the imperative to deliver high-density computing capabilities while addressing sustainability challenges. By uniting capital, advanced technology, and green energy, Crusoe is positioning itself as a key player in the next generation of cloud resources designed explicitly for AI and high-performance computing.
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