Nvidia Invests $683M in Ex-Crypto Miner Nscale to Boost UK AI Infrastructure
Nvidia has committed $683 million to Nscale, a UK-based AI infrastructure firm that spun off from cryptocurrency mining operator Arkon Energy in May 2024. The investment accelerates Britain's national AI push, targeting 60,000 GPUs by 2026.
The partnership underscores the rapid pivot of crypto mining operations into AI compute providers. Nscale's 'neocloud' model—renting GPU capacity rather than selling hardware—has already attracted Microsoft's $6.2 billion Norway deal and OpenAI's Stargate UK collaboration.
Falling AI chip prices, now just dollars per GPU hour amid eased supply constraints, create ideal conditions for scaled infrastructure plays. The MOVE signals institutional confidence in repurposed crypto mining expertise for next-gen computing demands.
