Crusoe, a vertically integrated AI infrastructure provider, with atNorth, a Nordic data center services provider, expanded Crusoe Cloud’s capacity in atNorth’s Iceland ICE02 data center, powered by clean energy. This 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 global alternative investment firm specializing in private credit.
“This credit facility from Victory Park Capital supports our ability to meet the incredible demand for Crusoe Cloud from customers of all sizes across Europe and North America who want to run their AI workloads in the cloud,” Chase Lochmiller, co-founder and CEO of Crusoe, said. “Through our continued partnership with atNorth, we can leverage Iceland’s abundant geothermal and hydroelectric energy to scale our high-performance cloud infrastructure while minimizing our environmental impact.”
“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,” Eyjólfur Magnús Kristinsson, CEO of atNorth, said. “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,” Connell Hasten, partner at VPC, said. “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.”
