XTX Markets is making a significant investment of €1 billion in a large-scale data center complex located in Kajaani, Finland, to enhance its machine learning capabilities. The company conducts over $250 billion in daily trades and utilizes machine learning to analyze extensive data sets for price forecasting of financial instruments.
The data center will occupy a 478-acre site and is currently under construction, with the first facility slated for completion in 2026. This initial center will feature 15,000 square meters of floorspace, comprising three data halls with a total IT power capacity of 22.5MW. Plans are in place to develop an additional four data centers on the same site in the future.
Joshua Leahy, Chief Technology Officer of XTX Markets, stated, “We believe the best way to future-proof our business is to invest in our own infrastructure, which we can continue to leverage over time. Owning our data centers allows us to deploy greater computing power efficiently and in a manner that keeps up with our business growth.”
Notably, the facility is expected to generate more waste heat annually than the entire town of Kajaani consumes throughout the year. XTX Markets is investigating options to provide this excess heat to the local community at no cost.
Additionally, the choice of a cooler climate for the data center’s location allows the firm to minimize water usage in its operations. According to Mike Irwin, Chief Operating Officer of XTX Markets, “We do not believe data centers need to be constructed in cities or in built-up areas with warmer climates. In Kajaani, we can offer tangible benefits in terms of energy efficiency and local employment throughout the project and beyond. We are also utilizing the naturally low air temperature for cooling, rather than depleting local water resources, as many other data centers do.”