IREN Acquires Spanish AI Data Center Developer Nostrum, Enters European Market

Odaily Odaily reports that IREN, an AI infrastructure company transformed from a Bitcoin mining firm, has announced the acquisition of Spanish AI data center developer Ingenostrum, S.L., also known as the Nostrum Group, officially entering the European market.

The transaction adds approximately 490 megawatts of secured, grid-connected power resources for IREN and brings a pipeline of AI data center development projects in Spain. The Nostrum team comprises over 50 employees covering development, engineering, construction, and operations.

IREN stated that Europe is one of the largest and fastest-growing AI infrastructure markets globally, and Spain, with its abundant renewable energy and strong fiber-optic connectivity, serves as a key gateway to enter the European market.

This acquisition is also the latest move in IREN's transformation from a pure Bitcoin mining company into a global provider of AI and high-performance computing infrastructure. This follows IREN's recent announcement to build an 800-megawatt data center campus in South Australia, as well as signing a multi-billion dollar AI cloud agreement with Microsoft and establishing a partnership with Nvidia. Following the news, IREN's stock price rose nearly 4% on Monday to approximately $62.