How much bandwidth is there in Iceland? I suspect not much because the population is only 400K. You will need to lay new undersea fiber. And how are you going to build them? The construction alone would take a massive amount of resources and manpower not feasibly available there. And what about the power supply? In data center heavy areas like Virginia, data center power consumption is already 25% of the entire state power consumption, and VA has 22x more people than Iceland. So if you build even 1/5th the number of data centers in just Virginia, that will consume the entire power grid of Iceland. Therefore, in addition to the data centers themselves, you are also going to have to build an entirely new grid and distribution system.