Pituffik Space Base is a newly established geomagnetic observatory located in the high Arctic – a region with sparse geomagnetic observational coverage. Positioned within the polar cap at Quasi-Dipole geomagnetic coordinates 83.19° latitude and 25.25° longitude, the observatory provides valuable data from a geophysical significant area. The observatory was carefully designed and constructed using non-magnetic materials with special considerations for the Arctic conditions. All building components were pre-assembled and tested in Denmark before being disassembled, shipped, and reassembled at the remote site in northwest Greenland. This paper presents the observatory design, and an analysis of over one year of operational data, including baseline stability, temperature control, and calibrated vector and scalar magnetic field measurements. The results demonstrate stable baselines and high data quality, confirming the observatory's readiness for data-distribution to the international geomagnetic community.