The UK's new cloud service provider, Nscale, is set to go public, and its heavy reliance on two major clients for revenue will face scrutiny from public investors. Nscale was spun off from Australian cryptocurrency mining firm Arkon Energy two years ago and operates independently. According to documents filed with the U.S. Securities and Exchange Commission, Nscale has secured contracts worth over $103 billion in total. However, approximately 85% of these orders are concentrated in two major deals: one is a $43.8 billion contract to supply computing power services to Microsoft by 2033, and the other is a $44.6 billion computing power supply agreement with Anthropic.
