Finland's Data Center Boom: 10 Companies to Watch

Finland has quietly become one of the busiest data center corridors in Europe, and not just in the Helsinki suburbs where most of the country's server farms have historically clustered. Cold climate, cheap and mostly renewable power, and a stable grid have pulled money into towns most people outside Finland have never heard of. Here are ten of the biggest projects currently underway or announced, with the actual announcement dates and how far along each one really is.

Confirmed and under construction

1. Pure Data Centres Group, Seinäjoki

Pure DC finalized its 22.3-hectare land purchase in Seinäjoki's Kivenneva data center area on April 15, 2026. The project has moved fast since: the first 110 megawatt phase is fully leased, reportedly to Microsoft, the substation is already live, and Pure DC closed €1.3 billion in debt financing on July 22, 2026. The fully built campus is projected to exceed 550 megawatts and 7.5 billion euros in total investment.

2. TikTok and HyperCo, Kouvola

HyperCo and the City of Kouvola officially announced the project on May 6, 2025, following land and zoning groundwork that started a few weeks earlier. The first phase, roughly 50 megawatts, broke ground in September 2025. Completion was originally targeted for late 2026, but more recent reporting puts phase one online in 2027 instead. It's part of TikTok's broader 12 billion euro Project Clover push to keep European user data processed inside Europe, and TikTok has since announced a second Finnish site in Lahti.

3. Nebius, Lappeenranta

Nebius and its development partner Polarnode announced the 310 megawatt "AI Factory" in Lappeenranta's Pajarila district on March 31, 2026, with groundwork starting immediately. First capacity is still targeted for 2027. Nebius also already operates an existing, smaller site in Mäntsälä, inherited from its Yandex-era roots.

4. FCDC, Vaasa

FCDC Corp Oy, through its subsidiary Kiinteistö Oy MegaWatti, submitted its building permit application in early December 2025, and the City of Vaasa granted it on December 10, 2025. Earthworks broke ground in March 2026 on the 66,000 square meter campus in the GigaVaasa business area. Commissioning is still on track for 2028 to 2029.

5. XTX Markets, Kajaani

The London trading firm's plans first surfaced in reporting in spring 2024. The first 22.5 megawatt building at the Renforsin Ranta business park is actively under construction and still targeting completion in 2026, with four more buildings planned on the same 478-acre site and a full build-out that could reach 250 megawatts.

In talks or early-stage, not yet under construction

6. DayOne, Nurmijärvi

Announced January 22, 2026. DayOne itself has described this as early-stage. The project still needs municipal zoning decisions and a Ministry of Defence national security review because of its location, and no final land-use decision has been made.

7. Prime Data Centers, Järvenpää

Announced in January 2026. No physical construction has started, and the project is still moving through the regional Environmental Impact Assessment process, with construction not expected to begin until 2027.

8. Scale42, Kitee

Announced October 2025. The site is still categorized as planned, with grid-connection negotiations ongoing and no groundbreaking yet.

9. Microsoft, Vaasa

Microsoft announced its land reservation and purchase in the GigaVaasa area on June 9, 2026, but has deliberately kept this as exploratory site-banking rather than a greenlit build. Notably, Microsoft appears to be putting its nearer-term Finnish capacity into leased space at the nearby Pure DC campus in Seinäjoki instead.

10. Google, Kajaani and Muhos

Google's 1,400-hectare land acquisition, split between Kajaani and Muhos, cleared in 2024. Google is holding the land as speculative inventory for its next phase of Finnish expansion beyond Hamina, with no formal deployment strategy or construction timeline announced yet.

Taken together, the list says something about where this buildout is actually headed. The Helsinki metro area is filling up, so the newer, larger campuses are landing further out: Seinäjoki, Kajaani, Kouvola, Lappeenranta, Kitee, Vaasa. Land is cheaper there, permitting tends to move faster, and the grid connections still have room, at least for now.