SAN FRANCISCO, CHICAGO, and REYKJAVÍK, Iceland, Aug. 25, 2025 (GLOBE NEWSWIRE) — Crusoe, the industry’s first vertically integrated AI infrastructure provider, announced today with atNorth, a leading Nordic data center services provider, an expansion of Crusoe Cloud capacity in atNorth’s Iceland ICE02 data center, powered by clean energy. This strategic expansion is designed to meet the surging demand for Crusoe Cloud services from customers of all sizes across Europe and North America. To support this initiative, Crusoe has secured a $175 million credit facility from Victory Park Capital (“VPC”), a leading global alternative investment firm specializing in private credit.
The expansion within atNorth’s Iceland ICE02 data center features state-of-the-art NVIDIA hardware, including NVIDIA DGX™ GB200 NVL72 instances and NVIDIA Blackwell GPUs. Additionally, by adding Direct Liquid to Chip (DLC) cooling, Crusoe boosts performance while increasing energy efficiency. The atNorth ICE02 site is powered 100% by sustainable geothermal and hydro energy, reinforcing Crusoe’s commitment to responsibly source abundant clean energy.
“Crusoe runs the infrastructure for intelligence. This credit facility from Victory Park Capital enables us to accelerate the deployment of the most advanced GPU hardware to meet the incredible demand we’re seeing from the market for Crusoe Cloud,” said Chase Lochmiller co-founder and CEO, Crusoe. “Our partnership with atNorth allows us to leverage the abundant geothermal and hydroelectric power in Iceland to build energy-first AI infrastructure so that our customers can run their most demanding AI workloads on Crusoe Cloud.”
“We are delighted with Crusoe’s success in serving its clients via our data centers and are excited to announce this significant development in our ongoing partnership,” said Eyjólfur Magnús Kristinsson, CEO atNorth. “The expansion of our ICE02 site will feature cutting-edge infrastructure and highly energy-efficient Direct Liquid to Chip (DLC) cooling technology. This aligns with both companies’ commitment to sustainability, and we are proud to support Crusoe on their path to decarbonize their workloads while delivering AI-ready solutions in an environmentally responsible way.”
“AI and high-performance computing are placing unprecedented demands on global digital infrastructure,” said Connell Hasten, partner at VPC. “We are proud to support Crusoe’s mission to power the future of AI with clean energy and see tremendous potential in its vertically integrated model. We believe the company is uniquely positioned to develop and operate AI-optimized data centers that efficiently support large-scale GPU clusters.”
The expansion at atNorth’s ICE02 site is a key component of Crusoe’s growing European strategy, which began in December 2023. The site offers low-latency networks and fully redundant connectivity via multiple undersea fiber optic cables, providing critical access for customers in both Europe and North America. This initiative builds on the company’s regional footprint, which also includes a recently announced second European data center in Norway.
Crusoe Cloud is an intuitive, highly scalable platform to run next-generation AI workloads. Built on the latest, state-of-the-art GPU infrastructure, the platform delivers unmatched reliability and enterprise-grade support. Crusoe Cloud provides a cost effective solution that allows engineers, developers, and data scientists to focus on innovation, not infrastructure.
About Crusoe
Crusoe is on a mission to accelerate the abundance of energy and intelligence. Crusoe provides a reliable, scalable, cost-effective, and environmentally friendly solution for AI infrastructure by harnessing large-scale energy, building AI-optimized data centers, and empowering builders to reach their AI potential. Crusoe empowers its customers to build the future faster.
About atNorth
atNorth is a leading Nordic data center company that offers cost-effective, scalable high-density colocation and built-to-suit services trusted by industry-leading organizations.
With sustainability at its core, atNorth’s data centers run on renewable energy resources and support circular economy principles. All atNorth sites leverage innovative design, power efficiency, and intelligent operations to provide long-term infrastructure and flexible colocation deployments.
atNorth is headquartered in Reykjavik, Iceland and operates eight data centers in strategic locations across the Nordics, with a site to open in Ballerup, Denmark in 2025, as well as its tenth under construction in Kouvola, Finland and its eleventh site in Ølgod, Denmark. The business has also secured land for a future mega site in the Sollefteå Municipality in Sweden.
For more information, visit atNorth.com or follow atNorth on LinkedIn.
ABOUT VICTORY PARK CAPITAL
Victory Park Capital Advisors, LLC (“VPC” or the “Firm”) is a global alternative asset manager that specializes in private asset-backed credit. In addition, the Firm offers comprehensive structured financing and capital markets solutions through its affiliate platform, Triumph Capital Markets. The Firm was founded in 2007 and is headquartered in Chicago. In 2024, VPC became a majority-owned affiliate of Janus Henderson Group. The Firm leverages the broader resources of Janus Henderson’s 2,000+ employees across offices in 25 cities worldwide. VPC is a Registered Investment Advisor with the SEC*. For more information, please visit http://www.victoryparkcapital.com.
Media Contacts:
Crusoe:
Andrew Schmitt
aschmitt@crusoe.ai
AtNorth:
Caroline Brunton
Kite Hill PR for atNorth
+44 (0) 7796 274 416
caroline@kitehillpr.com
Victory Park Capital:
Jordan Niezelski, Edelman Smithfield
jordan.niezelski@edelmansmithfield.com
*Registration with the SEC does not imply a certain level of skill or training.
