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Bloomberg: Iceland Woos Microsoft for Part of Data Market
Bloomberg writes: On the southwestern tip of Iceland, housed in a former NATO air command base, a new data center is waiting to host the world’s information.
Tapping into a ready supply of geothermal energy and cool temperatures, Bjorgolfur Thor Bjorgolfsson, Iceland’s first billionaire and the former owner of one of its largest failed banks, is turning to the elements to attract customers to store data on the island and capture a slice of a $41 billion market.
The Atlantic island has sought to reinvent itself as a safe and secure data haven halfway between Europe and North America as it recovers from the economic meltdown after the failure of the country’s top lenders in 2008. Its chance of success is set to improve with a link to the Emerald subsea cable between London and New York that takes in Iceland for the first time.