PANews reported on December 10 that according to DCD, Nscale, a European AI cloud company under Bitcoin mining company Arkon Energy, completed a US$155 million Series A financing round, led by Sandton Capital Partners, with participation from Kestrel, Bluesky Asset Management and Florence Capital, which will promote its growth plans in Europe and North America.

According to reports, Nscale was officially launched in May 2024. The company provides a GPU cloud based on AMD hardware, especially AMD's Instinct M1300X accelerator as well as AMD MI250 GPU and Nvidia's A100, H100 and V100 GPUs. Nscale operates a 60MW 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, and plans to develop 120MW in 2025. Nscale said it will launch a public cloud service in the first quarter of 2025, allowing developers to access specially built reasoning and training solutions in a flexible development environment.