Nvidia’s $683M AI Bet on Nscale: From Crypto Mines to Sovereign AI Power

Nvidia, the world’s most valuable chipmaker, has committed $683 million to Nscale, a London-based AI infrastructure company that only recently spun out of crypto miner Arkon Energy. 

The investment underscores how crypto’s infrastructure legacy quietly fuels the next wave of AI growth. Mining-born data centers evolve into sovereign-scale computing hubs.

Nvidia and Crypto Mining Roots Power AI Ambitions

Nvidia’s partnership with Nscale will bring about 60,000 GPUs to UK data centers by 2026. The move underscores the scale of Nvidia’s investment and aligns with the UK’s broader AI policy goals.

Notably, the announcement comes as political momentum builds under Prime Minister Keir Starmer’s 50-point AI action plan. It also comes as crypto-origin infrastructure converges with traditional tech giants.

Microsoft and OpenAI have already pledged billions to AI campuses in Britain, while Nvidia is positioning itself at the intersection of blockchain roots and next-generation compute.

Nscale’s origins lie in the energy-intensive world of digital asset mining. Arkon Energy founded the company to provide infrastructure for crypto mining. In 2024, the company pivoted to AI as demand for compute power outpaced blockchain returns.

Nvidia CEO Jensen Huang highlighted Nscale’s role in UK infrastructure, saying the company could become a “national champion for AI infrastructure in the UK.”

Crypto Mining Roots Power AI Ambitions

Crypto’s once-criticized data centers are now being redeployed for mainstream AI infrastructure.

CoreWeave, which started as an Ethereum mining operation in 2017, now provides AI infrastructure to Microsoft, Google, Nvidia, and OpenAI. After pivoting to AI workloads, it went public in 2025 with a market cap of around $58 billion.

Likewise, Hut 8, a Canadian Bitcoin miner, has expanded into high-performance computing services, striking partnerships with enterprise clients seeking GPU capacity.

On August 14, 2025, Google invested in TeraWulf, backing $1.8 billion in AI-hosting agreements and securing warrants equal to about 8% equity. The funding supported TeraWulf’s Lake Mariner campus in New York. The campus committed over 200 megawatts of capacity under two ten-year contracts with Fluidstack. Those agreements are valued at roughly $3.7 billion in revenue. Optional extensions could increase the total to $8.7 billion.

Sovereign AI Meets Blockchain Legacy

Europe’s call for “sovereign AI” echoes long-standing crypto debates around decentralization and self-custody. Just as miners sought independence from centralized finance, governments now want independence from foreign hyperscalers.

Prime Minister Starmer framed the announcements as a turning point: “The UK can lead in AI just as it has nurtured fintech and digital assets.”

Nscale’s plan to deploy 300,000 Nvidia GPUs by 2030 shows how blockchain’s infrastructure is now powering AI’s future.