IREN enters Europe with acquisition of Spanish AI data center developer Nostrum
Bitcoin-miner-turned-AI infrastructure provider IREN has made headway in the European market through its acquisition of data center developer Nostrum.
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. It also comes with a team of more than 50 employees across "development, engineering, construction and operations."
"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 just 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.
They're the latest pieces in IREN's transformation from a pure-play bitcoin mining operation into a global provider of AI and high-performance compute infrastructure. Over the past year, the company has been moving from strength to strength, signing a multibillion-dollar AI cloud agreement with Microsoft, partnering with Nvidia, and expanding its data center footprint across multiple continents.
IREN shares (IREN) were up nearly 4% on Monday, trading for around $62, according to The Block's equity price page.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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