AT A GLANCE
- Arkon Energy Funding: Arkon Energy, a green data center company, has secured $110 million in funding led by Bluesky Capital Management, bringing its total funding to over $150 million.
- Renewable Energy Data Centers: Arkon operates data centers powered by renewable energy, with a focus on reducing environmental impact.
- Infrastructure Expansion: The funding will be used to expand Arkon’s infrastructure, with plans to purchase additional data centers in Ohio, North Carolina, and Texas.
- Previous Acquisitions: In 2022, Arkon acquired Hydrokraft AS in Europe, adding a 30-megawatt facility in Norway to its portfolio. The company also acquired a 100-megawatt facility in Ohio last year.
- Capacity Growth: Arkon aims to increase its capacity by 130% within the next six months, part of a broader initiative to meet growing demand.
- Bitcoin Mining and AI Hosting: Arkon’s U.S. data centers are currently used by institutional-grade bitcoin miners. The facilities are also suitable for hosting artificial intelligence models.
- Generative AI Workloads: With a $30 million investment, Arkon plans to optimize its Norwegian data center for generative AI workloads, focusing on projects related to training large language models.
Melbourne, Australia-based Arkon Energy, a company pioneering data centers powered by renewable energy, has secured a fresh $110 million funding injection to accelerate its global expansion. This latest investment, led by Bluesky Capital Management with participation from Kestrel 0x1 and Nural Capital, brings Arkon’s total external funding to over $150 million, solidifying its position as a leader in the green data center revolution.
From Humble Beginnings of Arkon Energy to Global Aspirations
Arkon’s journey began in 2021 with a modest 5-megawatt facility in Brisbane, Australia. This initial spark, equivalent to the electricity needs of 2,000 to 4,500 homes, ignited a fire of ambition. Recognizing the exponential energy demands of modern data centers, Arkon set its sights on building a sustainable, scalable network powered by clean energy sources.
Hydropower Fuels European Expansion
In 2022, Arkon Energy made its first bold move beyond Australian shores by acquiring Hydrokraft AS, a Norwegian data center operator boasting a 30-megawatt facility powered by the mighty force of hydropower. This strategic acquisition not only expanded Arkon’s reach but also established a foothold in Europe, a region with ambitious green energy goals. Arkon quickly capitalized on this opportunity, investing in upgrades to double the Norwegian facility’s capacity to 60 megawatts, paving the way for future growth.
American Ambitions and Bitcoin Bonanza
Last year, Arkon Energy crossed the Atlantic, snapping up a 100-megawatt facility in Ohio, USA. This move marked a significant milestone in Arkon’s North American expansion plans. Today’s $110 million funding boost fuels the engine for even more ambitious acquisitions, with Arkon eyeing additional data centers in Ohio, North Carolina, and Texas. This aggressive expansion strategy aims to increase Arkon’s capacity by a staggering 130% within the next six months.
Beyond Bitcoin: Embracing the AI Revolution
While currently serving “institutional-grade” bitcoin miners in the US, Arkon’s vision extends beyond cryptocurrency. Recognizing the burgeoning demand for artificial intelligence (AI) computing power, the company is dedicating $30 million to optimizing its Norwegian data center for generative AI workloads. This strategic shift positions Arkon at the forefront of the AI revolution, offering its facilities for training large language models and other cutting-edge AI applications.
A Green Wave in the Data Center Landscape
Arkon’s success is not an isolated phenomenon. The data center industry is witnessing a surge in investments focused on sustainability and catering to the ever-growing needs of AI. Stack Infrastructure Inc.’s recent $290 million securitized note sale exemplifies this trend, highlighting the market’s recognition of the potential in green data center solutions. With its dedication to clean energy and cutting-edge technology, Arkon is poised to ride this wave of innovation and redefine the future of data centers.
The Road Ahead
Arkon’s journey has only just begun. With a robust funding war chest and a clear vision for the future, the company is well-positioned to become a global leader in sustainable data center solutions. As the demand for data and AI processing power continues to skyrocket, Arkon’s commitment to green energy and cutting-edge technology will undoubtedly attract businesses and investors alike. The future of data centers is green, and Arkon Energy is leading the charge.
Key Takeaways
- Arkon Energy secures $110 million funding to expand its global network of green data centers.
- The company’s growth trajectory includes acquisitions in Europe and the US, targeting a 130% capacity increase within six months.
- Arkon Energy embraces the AI revolution by dedicating resources to optimizing its Norwegian facility for generative AI workloads.
- This investment surge aligns with a broader industry trend towards sustainable and AI-focused data center solutions.
With its ambitious plans and unwavering commitment to clean energy, Arkon Energy is on a mission to power the future of data, one green byte at a time.
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Source(s): Silicon Angle
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