IREN acquires Spanish AI data center developer Nostrum, entering the European market

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

The transaction adds approximately 490 megawatts of secured and grid-connected power resources to IREN, along with a pipeline of AI data center development projects in Spain. The Nostrum team consists of 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 connectivity, serves as a crucial gateway into the European market.

This acquisition marks IREN's latest move in its transformation from a pure Bitcoin mining company into a global AI and high-performance computing infrastructure provider. Previously, IREN announced plans to build an 800-megawatt data center campus in South Australia, signed a multi-billion dollar AI cloud agreement with Microsoft, and established a partnership with Nvidia. Following the announcement, IREN's stock rose nearly 4% on Monday to approximately $62.