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Cartis diligence evidence schedule

Compute Nordic Mikkeli AI Campus

PRJ-1295 · Site · Mikkeli, Finland

Record last updated Oct 29, 2026

Scope and capacity

Compute Nordic Finland is developing an AI data centre campus at Visulahti in Mikkeli. In September 2026, Cerebras announced seven-year service orders associated with phased capacity growing from 50 MW to 80 MW and ultimately 165 MW of IT capacity. These are successive stages, not amounts to add together, and construction of the initial 50 MW phase does not establish a currently operating 165 MW facility. The planned design includes closed-loop cooling and heat recovery. A municipal study identifies the project and discusses regional investment potential, but that estimate is not a financing close. Binding grid terms, specific carrier routes, parcel-title documentation and permit identifiers were not verified in the reviewed sources.

Headline: 165 MW Planned critical IT

Numbers refer to their stated physical boundaries and are not added together. Source dates, claim dates and record updates have different meanings. Missing dates and locators are not inferred.

Claims and exhibit sources

Jump to a claim (9)

Target IT capacity MW · 165 MW

Planned / design or future potential · Compute Nordic Mikkeli AI Campus (Project)

Claim 160805 · Recorded claim type: Forecast · Review: Approved · Claim date: Not stated

Headline treatment: Selected headline

  1. Cerebras/Compute Nordic announcement

    Cerebras Systems · Document date: Sep 1, 2026 · Primary

    Source reference: SRC-8126 · Company announcement · Recorded authority: Party primary

    Source URL

    https://cerebras.gcs-web.com/news-releases/news-release-details/cerebras-and-compute-nordic-finland-announce-new-165-mw-ai-data

Site location · Compute Nordic Finland’s Visulahti project; distinct operator identity from nearby FCDC development. Exact parcel reference not established.

Reported rounded · Compute Nordic Mikkeli AI Campus (Project)

Claim 160806 · Recorded claim type: Reported rounded · Review: Approved · Claim date: Not stated

  1. City confirms Visulahti project

    City of Mikkeli · Document date: Feb 6, 2026 · Primary

    Source reference: SRC-8127 · Government record · Recorded authority: Official primary

    Source URL

    https://mikkeli.fi/2026/02/06/mikkelin-kaupunki-teetti-tutkimuksen-datakeskushankkeiden-aluetaloudellisista-vaikutuksista/

Land and site control context · City source confirms Visulahti locality; lease title not inspected.

Reported rounded · Compute Nordic Mikkeli AI Campus (Project)

Claim 160807 · Recorded claim type: Reported rounded · Review: Approved · Claim date: Not stated

  1. City confirms Visulahti project

    City of Mikkeli · Document date: Feb 6, 2026 · Primary

    Source reference: SRC-8127 · Government record · Recorded authority: Official primary

    Source URL

    https://mikkeli.fi/2026/02/06/mikkelin-kaupunki-teetti-tutkimuksen-datakeskushankkeiden-aluetaloudellisista-vaikutuksista/

Staged IT capacity 50 MW · 50 MW

Forecast · Compute Nordic Mikkeli AI Campus (Project)

Claim 160808 · Recorded claim type: Forecast · Review: Approved · Claim date: Not stated

Headline treatment: Separate claim, not added to the headline

  1. Cerebras/Compute Nordic announcement

    Cerebras Systems · Document date: Sep 1, 2026 · Primary

    Source reference: SRC-8126 · Company announcement · Recorded authority: Party primary

    Source URL

    https://cerebras.gcs-web.com/news-releases/news-release-details/cerebras-and-compute-nordic-finland-announce-new-165-mw-ai-data

Staged IT capacity 80 MW · 80 MW

Forecast · Compute Nordic Mikkeli AI Campus (Project)

Claim 160809 · Recorded claim type: Forecast · Review: Approved · Claim date: Not stated

Headline treatment: Separate claim, not added to the headline

  1. Cerebras/Compute Nordic announcement

    Cerebras Systems · Document date: Sep 1, 2026 · Primary

    Source reference: SRC-8126 · Company announcement · Recorded authority: Party primary

    Source URL

    https://cerebras.gcs-web.com/news-releases/news-release-details/cerebras-and-compute-nordic-finland-announce-new-165-mw-ai-data

Reviewed mik contract scope context · NYAB Finland announced a project management contract with Compute Nordic Finland on February 18, 2026. Construction depended on separate orders; eventual contract scope could reach approximately €100 million. Its historical scope included two 100 MW data halls plus supporting works, without defining the MW basis. This is neither committed campus financing nor a replacement for the later 165 MW IT plan.

Source report · Compute Nordic Mikkeli AI Campus (Project)

Claim 162668 · Recorded claim type: Not stated · Review: Approved · Claim date: Not stated

  1. Cerebras/Compute Nordic announcement

    Cerebras Systems · Document date: Sep 1, 2026 · Primary

    Source reference: SRC-8126 · Company announcement · Recorded authority: Party primary

    Source URL

    https://cerebras.gcs-web.com/news-releases/news-release-details/cerebras-and-compute-nordic-finland-announce-new-165-mw-ai-data

  2. NYAB announces Mikkeli project-management agreement

    NYAB · Document date: Feb 18, 2026 · Primary

    Source reference: SRC-8343 · Company announcement · Recorded authority: Party primary

    Source URL

    https://nyabgroup.com/fi/uutishuone/nyab-allekirjoittaa-sopimuksen-datakeskushankkeesta-mikkelissa/

Reviewed mik heat context · ESE-Energia’s September 16, 2026 announcement reports a signed letter of intent with Compute Nordic Finland to assess district heating reuse. Technical, commercial and investment feasibility remained to be studied; it does not establish a heat delivery contract or completed investment.

Source report · Compute Nordic Mikkeli AI Campus (Project)

Claim 162669 · Recorded claim type: Not stated · Review: Approved · Claim date: Not stated

  1. ESE-Energia and Compute Nordic Finland heat-reuse feasibility letter of intent

    ESE-Energia · Document date: Sep 16, 2026 · Primary

    Source reference: SRC-8344 · Company announcement · Recorded authority: Party primary

    Source URL

    https://ese.fi/fi-fi/article/uutiset/ese-energia-oy-ja-compute-nordic-finland-selvittavat-datakeskuksen-hukkalammon-hyodyntamista-mikkelissa/1825/

Reviewed mik lease context · The May 24, 2024 development agency announcement reports an official city decision for a roughly ten hectare Visulahti lease. Although it also describes an agreement as entered into, it says the parties would sign after the appeal period. Subsequent execution and current registered lease title are therefore not established by this announcement.

Source report · Compute Nordic Mikkeli AI Campus (Project)

Claim 162670 · Recorded claim type: Not stated · Review: Approved · Claim date: Not stated

  1. Mikkeli development agency announcement — Visulahti lease decision

    Miksei Mikkeli · Document date: May 24, 2024 · Primary

    Source reference: SRC-8345 · Company announcement · Recorded authority: Party primary

    Source URL

    https://mikseimikkeli.fi/en/27588-2/

Reviewed mik authority permit context · Mikkeli’s February 17, 2026 committee minutes describe Compute Nordic Finland’s Visulahti project as having received a construction permit, with a historical maximum of 200 MW, separately from FCDC. The MW basis and original permit conditions are not specified. This authority reported scope does not replace September’s 165 MW IT contract plan.

Source report · Compute Nordic Mikkeli AI Campus (Project)

Claim 162671 · Recorded claim type: Not stated · Review: Approved · Claim date: Not stated

  1. Mikkeli committee section 16 — Visulahti project outlook

    City of Mikkeli · Document date: Not stated · Primary

    Source reference: SRC-8346 · Government record · Recorded authority: Official primary

    Source URL

    https://mikkeli.cloudnc.fi/fi-FI/Toimielimet/Kaupunkikehityslautakunta/Kokous_1722026/Rakennuskiellon_maaraaminen_Mikkelin_1_v(81664)

  2. Cerebras/Compute Nordic announcement

    Cerebras Systems · Document date: Sep 1, 2026 · Primary

    Source reference: SRC-8126 · Company announcement · Recorded authority: Party primary

    Source URL

    https://cerebras.gcs-web.com/news-releases/news-release-details/cerebras-and-compute-nordic-finland-announce-new-165-mw-ai-data

Counterparties and capital

Cerebras Systems · Customer · CMP-1441

Compute Nordic Finland · Developer, Operator · CMP-1724

This schedule captures public Cartis research. It is not a title, lien or legal-opinion report. Document page/section locators and claim review timestamps are included only when published; this version has no separate locator or claim-review-time feed.