Applied Digital is expanding into Europe with plans for a gigawatt-scale development in Finland.

The Nasdaq-listed firm this week announced it has entered into an agreement providing access to up to 1GW of potential power capacity in Finland.

Its first development outside of the US, initial power availability is anticipated beginning in 2028.

Full details on the project have not been shared.

Applied said it has begun marketing the site and is currently engaged in discussions with hyperscale customers.

“Applied Digital has built its platform around identifying the right power in the right markets and turning that power into operational AI capacity,” said Wes Cummins, chairman and CEO of Applied Digital. “Finland stood out because many of the characteristics that have supported our success in North Dakota are also present in the Nordics — a favorable climate, an attractive energy ecosystem, strong connectivity and the ability to develop at meaningful scale.”

Founded in 2021 as Applied Blockchain, Applied Digital is pivoting away from crypto to developing AI and HPC data centers, and has signed multiple large-scale deals with hyperscale customers.

Its contracted portfolio now spans five AI Factory campuses, totaling 1.4GW of critical IT load, and approximately 2.15GW of grid-connected utility power.

Applied has projects in operation and development across North Dakota, Louisiana, and Alabama, with CoreWeave and other unnamed hyperscale companies as customers.

The firm still operates two cryptomining sites in Jamestown and Ellendale, North Dakota, totaling some 286MW. It recently spun off its ChronoScale cloud unit.