IREN acquires Spanish AI data center developer Nostrum

Key facts

• IREN has acquired Ingenostrum, S.L. (Nostrum Group), an AI data center developer in Spain.
• The acquisition adds approximately 490 megawatts of secured, grid-connected power to IREN's portfolio.
• Nostrum Group brings a team of over 50 employees in development, engineering, construction, and operations.
• IREN views Europe, particularly Spain, as a key growth market for AI infrastructure due to renewables and fiber connectivity.
• This move follows IREN's recent announcement of an 800-megawatt data center project in South Australia.

Bitcoin miner IREN has expanded into the European market by acquiring Nostrum Group, a Spanish developer of AI data centers. The deal, announced Monday, adds approximately 490 megawatts of secured, grid-connected power to IREN's portfolio and includes Nostrum's team of over 50 employees.

IREN Co-Founder and co-CEO Daniel Roberts stated that Europe is a significant and growing market for AI infrastructure, with Spain offering attractive conditions due to its renewable energy resources and robust fiber connectivity. This strategic move is part of IREN's broader transformation from a pure bitcoin mining operation into a global provider of AI and high-performance compute infrastructure.

The acquisition follows IREN's recent announcement of an 800-megawatt data center campus in South Australia, aimed at serving the Asia-Pacific region. Over the past year, IREN has secured a multibillion-dollar AI cloud agreement with Microsoft, partnered with Nvidia, and expanded its data center presence internationally.