Bain-Backed Hscale Closes Second Large-Scale Data Center Campus Near Milan, Targeting 250MW of Capacity
May 27, 2026
Bain-Backed Hscale Closes Second Large-Scale Data Center Campus Near Milan, Targeting 250MW of Capacity
European data center operator Hscale, backed by private equity firm Bain Capital, is accelerating its expansion in Italy’s data center market. The company has closed the acquisition of a second large-scale campus in the northwestern Milan area, near the town of Settimo, marking a significant step in its strategy to serve hyperscale and AI-driven workloads in one of Europe’s busiest digital hubs.
With this latest acquisition, Hscale now has a total committed power capacity of 250MW in the Milan region, and plans to invest approximately €2 billion ($2.32 billion) into the projects. The campuses are designed for flexible deployment, supporting air-cooled, direct liquid-cooled, or hybrid configurations. The first site, MXP1, located in West Milan, is scheduled to go live in Q4 2027 and will feature a single 48MW building. The second, MXP2 in East Milan, is expected to come online in Q3 2028, with a total capacity of 120MW across three buildings.
Hscale’s design philosophy reflects the growing demands of next-generation computing. “We designed Hscale’s Milan campuses around a simple principle: the building should never be the bottleneck,” said Oliver Schiebel, CEO of Hscale. “Our base design is liquid-cooled first, built for the most demanding hyperscale and AI workloads, and can pivot to air-cooled traditional deployments in the same physical structure. No redesign, no additional capex. We design and build like this because we understand the long-term commitments our customers must make.”
The company also highlighted a strategic partnership with Aquila Clean Energy, which provides integrated access to clean energy supplies, moving beyond standard power purchase agreements. This approach aligns with broader industry trends toward sustainability and energy security in data center operations.
Hscale was launched last year after Bain Capital acquired 80 percent of Aquila Group’s data center business, AQ Compute, in 2024. The firm currently operates one live facility, OSL1, a 6MW site outside Oslo in Honefoss, Norway, which was previously owned by AQ Compute. Beyond its Italian expansion, Hscale is planning further growth in Norway and is developing projects in Spain (Madrid and Barcelona), Germany (Frankfurt), Switzerland (Zurich), and Dubai. The company claims a development pipeline of 1GW. Bain Capital, founded in 1984, manages approximately $225 billion in assets under management.
Source: datacenterdynamics
