Spain · South Korea · The Block
IREN enters Europe with acquisition of Spanish AI data center developer Nostrum
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Bitcoin-miner-turned-AI infrastructure provider IREN has made headway in the European market through its acquisition of data center developer Nostrum.
Key facts
- IREN shares (IREN) were up nearly 4% on Monday, trading for around $62, 's equity price page
- The deal adds roughly 490 megawatts of "secured, grid-connected power" to IREN's growing portfolio as it expands its AI cloud platform globally
- The acquisition comes weeks after IREN announced plans for its first Australian data center campus, an 800-megawatt project in South Australia that will serve AI demand across the Asia-Pacific region
- Europe is one of the largest and fastest-growing markets for AI infrastructure, and Spain is among its most compelling entry points, with abundant renewables and strong fiber connectivity," IREN
Summary
IREN said in a release that it completed the acquisition of Ingenostrum, S.L., known as Nostrum Group, a developer of AI data centers based in Spain. The deal adds roughly 490 megawatts of "secured, grid-connected power" to IREN's growing portfolio as it expands its AI cloud platform globally. "Europe is one of the largest and fastest-growing markets for AI infrastructure, and Spain is among its most compelling entry points, with abundant renewables and strong fiber connectivity," IREN Co-Founder and co-CEO Daniel Roberts said Monday in a statement. The acquisition comes weeks after IREN announced plans for its first Australian data center campus, an 800-megawatt project in South Australia that will serve AI demand across the Asia-Pacific region.