Algorithmic trading firm XTX Markets is set to build a third data center at its campus in Kajaani, Finland.

Construction firm YIT Corporation this week announced it has signed an agreement to construct the shell and core of XTX’s third data center in Kajaani.

YIT will serve as the main contractor for the project. Construction will begin in summer 2026.

The value of the project has not been shared. XTX has previously said it would invest more than €1 billion ($1.16bn) in the site.

Plans for the data center campus in Kajaani were unveiled in January 2025. The first data center spans 15,000 sqm (161,460 sq ft) and offers 22.5MW of IT capacity.

Within this, XTX hosts hardware to support its machine learning technology, which it uses for trades. The data center is XTX’s first self-owned large-scale facility. Up to five buildings had been planned at the campus.

Recent job posts for data center roles in New York and Singapore suggest XTX’s research cluster currently includes more than 25,000 GPUs.

The company and YIT announced plans for and started construction on a second facility at the campus last year. However, at the time, XTX said its longer-term investment roadmap for the site was under review due to proposed changes in electricity taxation in Finland.

Finland is currently in the process of changing the energy taxation for data centers, swapping out more general duties for more data center-specific benefits. This will, however, increase energy costs for operators.

Kajaani is located in the center of Finland. As well as XTX, the Renforsin Ranta Business Park is also home to the country’s LUMI supercomputer, and a facility owned by Iceland’s Borealis. Google is also set to develop a data center in the area.

DCD has previously done a deep dive into the digital infrastructure needs of high-frequency trading that can be read here. We put Finland’s growing data center market under the microscope in issue #60 of DCD>Magazine. Register here now to read it for free.