IREN Acquires Spanish AI Data Center Developer Nostrum, Adds 490MW Power in European Expansion

According to ChainCatcher, IREN, a former bitcoin mining company now focused on AI infrastructure, acquired Spanish AI data center developer Ingenostrum, S.L. (Nostrum Group) on Monday, marking its entry into the European market. The acquisition adds approximately 490 megawatts of secured renewable power capacity and an AI data center development pipeline in Spain.

Nostrum operates a team of over 50 employees across development, engineering, construction, and operations. Following the announcement, IREN shares rose nearly 4 percent to approximately $62. The company cited Europe as one of the world's largest and fastest-growing AI infrastructure markets, with Spain offering abundant renewable energy and strong fiber connectivity.