IREN Expands into Europe with 490MW Spanish AI Data Center Acquisition
IREN•IREN has acquired Nostrum Group, adding approximately 490MW of secured, grid-connected power assets in Spain and a development pipeline. The deal brings over 50 specialized staff and establishes IREN’s entry into Europe’s rapidly growing AI Cloud market.
1. Acquisition Completion
IREN completed the acquisition of Ingenostrum, S.L. (Nostrum Group), a developer of grid-connected AI data centers based in Spain.
2. Asset and Pipeline Details
The deal adds approximately 490MW of secured, grid-connected power capacity and a full development pipeline in Spain, accompanied by a team of over 50 professionals across development, engineering, construction and operations.
3. Strategic Market Entry
This acquisition marks IREN's first entry into the European AI Cloud market, leveraging Spain's abundant renewable resources and robust fiber connectivity to address accelerating demand for AI infrastructure.
4. Integration and Growth Outlook
Nostrum’s operations will continue under the IREN brand, enabling the combined entity to accelerate deployment of AI data centers and support IREN’s global expansion strategy.
