The markup is not going to the providers, only the router. It seems more like eurouter found a niche it can milk for a while.

That seems pretty unsubstantiated. Hetzner proves that EU data center != expensive.

Low carbon does not equal expensive, either. Solar is the cheapest power generation method. Solar plus grid scale batteries is in the same cost ballpark as natural gas.

There’s nothing about data centers that is inherently a high carbon business. It’s only a high carbon business in places like the US where political leadership purposefully fights against renewable energy projects that private businesses want to undertake on their own dime.