"In connection with this closing, Nscale implemented some governance changes, including modifications in the directors appointed to the board,"
"We believe our new board composition will set the group up for success as Nscale continues to grow."
"According to a Companies House filing dated 8 October 2025, Nathan Townsend has stepped down as a director of Nscale, which he co-founded with company CEO Josh Payne in May 2024."
Nscale closed a $1.1bn Series B funding round, which the company said was the largest ever secured in the UK and Europe. A Companies House filing dated 8 October 2025 shows co-founder Nathan Townsend stepped down as a director; investment banker Barry Kupferberg also departed the board on the same date. Nscale was created in May 2024 through a spin-off from Arkon Energy, a renewably powered cryptocurrency mining and infrastructure provider; Arkon's current status is unclear, though Townsend's LinkedIn lists him as Arkon chief operating officer. Two new directors were appointed, including Øyvind Eriksen of Aker ASA, and the company reported governance changes tied to the funding close.
Read at ComputerWeekly.com
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