If only their single fiber connection to the world wasn't the bottleneck.
You might want to talk to VerneGlobal and the Icelandic chamber of commerce/investment about that... There are at least four cables, totaling maybe 10Tb. Tata?/TeleGlobe?/GreenlandConnect, FarIce, DanIce, CanTat. HiberniaAtlantic has been talking for a while now. ICEUS is another. EmeraldAtlantis appears to be a few months from laying some heavy pipe, that one should turn lots of heads.
The talk about Iceland is trending it as a low latency midpoint, datacenter heaven of the finance and DR world. So control, access, and pricing might be more the issue. Though long term the limiting factor may end up being power and related green regs.