Arkon Energy acquires distressed data center assets and operates power-dense infrastructure that appeals to bitcoin miners and AI/machine learning clients. Launched in 2021 with a 5-megawatt site in Australia, the company has grown to over 130 megawatts and expanded into the U.S. and Europe. Arkon positions itself as a landlord that owns underlying infrastructure assets, with its U.S. portfolio largely occupied by institutional-grade bitcoin mining companies. The company closed a $110 million private funding round led by Bluesky Capital Management with participation from Kestrel 0x1 and Nural Capital. About $80 million of the proceeds will be used to acquire an additional 200 megawatts across new data centers in Ohio, North Carolina and Texas to increase total megawatts by 130% by mid-2024; Arkon also purchased a 100-megawatt facility in Ohio in June. The remaining $30 million will fund development of an AI cloud service at its Norway data center to serve generative AI and large language model training markets.

Total raised

$110M

Funding rounds

1

Latest round

Equity

Latest activity

Dec 2023