3 E Network Announces Progress Update on Finland AI Data Centre Project: Site Clearance Completed and Earthworks Underway
3 E Network (Nasdaq: MASK) reported construction progress for its Finland AI data centre after the building permit became legally binding.
Rhea-AI Summary
3 E Network (Nasdaq: MASK) reported construction progress for its Finland AI data centre after the building permit became legally binding. Site clearance is complete and earthworks are underway, with excavation equipment on site preparing for a potential 6MW computing facility.
Procurement and prefabrication of MEP systems are proceeding in parallel, and the company says ESG and local regulatory requirements are being considered as the project advances.
Positive
- Building permit granted, providing regulatory basis for construction
- Site clearance completed, including tree felling
- Earthworks commenced with excavation and grading equipment on site
- Project scoped to include a 6MW computing facility in initial phase
- Procurement and prefabrication of MEP systems progressing in parallel
- ESG and local partners engaged to follow environmental regulations
Negative
- Outcomes remain conditional; project success depends on execution and market conditions
- Timeline and final capacity uncertain; further development and implementation required
Details
News Market Reaction – MASK
In the Apr 6 session, MASK declined 10.75%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
- Initial facility capacity
- 6MW computing facility
- Initial phase of Finland AI data centre project, subject to development
- Nasdaq bid price rule
- $1.00 per share
- Minimum bid requirement not met for 30 consecutive business days
- Compliance deadline
- March 24, 2026
- End of 180-day period to regain Nasdaq bid price compliance
- Share consolidation ratio
- 25-for-1
- MASK Class A and B share consolidation effective March 16, 2026
- Authorized capital
- US$50,000
- Post-consolidation authorized share capital structure
- ELOC size
- US$20 million
- Equity line of credit over 24 months for Class A shares
- Convertible facility
- US$2 million
- Original issue discount convertible advances under note financing
- 52-week high discount
- -97.86%
- MASK price vs 52-week high before this AI construction update
Previous AI Reports
-
Mikkeli project branded as Nordic Compute Gateway for AI-native infrastructure.
-
AI Smart Energy Plan announced to optimize PUE and grid-aligned operations.
-
Initiated procurement of long-lead items for Mikkeli AI data center build.
-
Launched Intellisight™ AIOps platform for high-density AI compute clusters.
-
Outlined high-density AI and HPC deployment plans in Finland subject to conditions.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
generative ai technical
large language models technical
high-performance computing technical
prefabricated modular data center units technical
esg financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
HONG KONG, April 06, 2026 (GLOBE NEWSWIRE) -- 3 E Network Technology Group Limited (Nasdaq: MASK) (the “Company” or “3 E Network”), a business-to-business (“B2B”) information technology (“IT”) business solutions provider with the inspiration to become a next-generation artificial intelligence (“AI”) infrastructure solutions provider, today announced a substantial progress on the construction progress of its AI data center project in Finland. Following the recent formal approval of the building permit, on-site construction activities have commenced, and the project is progressing in accordance with the current development plan.
 |  |
Caption: Construction progress at 3 E Network’s Finland AI data centre site. (Left) Tree felling and site clearance have been completed. (Right) Large excavation equipment has arrived on site, and earthworks are now fully underway.
Site clearance and earthworks progressing in line with development plan
Following a long-term land lease agreement between the Company and the city of Mikkeli, Finland, the granting of the building permit provides a regulatory basis for the project to proceed. The Company has transitioned from preliminary preparations to on-site construction. As of the date of this announcement, tree felling and site clearance have been completed, preparing the site for the next stages of construction.
The project has entered the earthworks phase. Excavation and grading equipment has been deployed on site, and related construction activities are underway. This represents a further step in the Company’s Finland data center development plan. The commencement of earthworks is intended to support the initial phase of the project, which is expected to include a 6MW computing facility, subject to further development and implementation.
With the continued development of generative AI and large language models, demand for computing infrastructure has increased. The Finland project is intended to leverage the country’s energy supply and cooling conditions to support the development of data center infrastructure. The Company expects that the project, if completed as planned, could support high-performance computing and AI-related workloads, although such outcomes remain subject to project execution and market conditions.
On-site construction and supply chain activities progressing in parallel
In addition to site selection considerations, the Company is coordinating construction planning with its supply chain arrangements. The current earthworks are preparing the site for the potential installation of prefabricated modular data center units. At the same time, procurement and prefabrication of certain mechanical, electrical and plumbing systems, as well as related equipment, are being carried out in parallel. This approach is intended to facilitate coordination between construction phases and may contribute to improved project timelines, subject to execution and external factors.
The Company has indicated that it is taking ESG (environmental, social and governance) considerations into account in the project. By working with local partners, site clearance and earthworks are being carried out in accordance with applicable local environmental regulations. The Company expects that this approach may help manage environmental impact and support local economic activity, although the extent of such impact will depend on ongoing project development.
Dr. Tingjun Yang, CEO of 3 E, commented on the current construction progress and noted that the project is advancing in line with the planned timetable.
“We are pleased to see the Finland AI data center project move from the planning stage into the construction phase,” said Dr. Yang. “Following the approval of the building permit, on-site work has commenced, including site clearance and earthworks. These developments reflect the coordinated efforts of our team and local partners. As demand for AI-related computing infrastructure continues to evolve, we intend to continue advancing the project in accordance with our development plan. The Company will continue to monitor project milestones, supply chain coordination and environmental considerations, with the objective of supporting the next phases of development, subject to applicable conditions and requirements.”
For further details regarding the official announcement issued by the City of Mikkeli on the project's building permit, please refer to: Aurora Core Technology data centre project building permit becomes legally binding
https://mikkeli.fi/en/2026/04/02/aurora-core-technology-data-centre-project-building-permit-becomes-legally-binding/.
About 3 E Network Technology Group Limited
3 E Network Technology Group Limited is a business-to-business ("B2B") information technology ("IT") business solutions provider, committed to becoming a next-generation artificial intelligence ("AI") infrastructure solutions provider. It upholds the industry consensus of “AI and energy symbiosis” and has excellent vision in the field of energy investment. The Company’s business comprises two main portfolios: the data center operation services portfolio and the software development portfolio. For more information, please visit the Company’s website at https://3emask.com/.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "approximates," "assesses," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the U.S. Securities and Exchange Commission.
For more information, please contact:
3 E Network Technology Group Limited
Investor Relations Department
Email: ird@3emask.com
Website: https://3emask.com/
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/5eebaeed-93ca-4d9b-8fe3-9609a3296bb8
https://www.globenewswire.com/NewsRoom/AttachmentNg/2262d496-4d9c-48fe-831b-69c7c11839a1
