IREN Acquires Nostrum Group, Adds 490MW of Spanish Grid Power for AI Cloud Expansion

IREN Limited has completed the acquisition of Spain-based Nostrum Group, adding 490 megawatts of grid-connected power and marking its entry into Europe, according to Bitcoin.com. The deal accelerates IREN's expansion from bitcoin mining into AI cloud infrastructure, bringing a development pipeline and over 50 employees across development, engineering, construction, and operations in Spain.

bitcoin.comIREN Acquires Nostrum Group, Adding 490MW Spanish Grid Power for AI Cloud Expansion

"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.gcs-web.comOur vertically integrated AI Cloud platform has arrived in Europe. Today, IREN announced it has completed the acquisition of Nostrum Group, adding 490MW of secured power in Spain to serve global deman

The company's vertically integrated AI Cloud platform has now arrived in Europe, as reported by iren.gcs-web.com. The acquisition gives IREN secured power today along with a development pipeline and a local team the company is excited to work with, according to the same source.

Bitcoin.com noted that the deal adds 490MW of secured power in Spain to serve global demand for AI compute. The acquisition positions IREN to tap into Spain's renewable energy resources and fiber connectivity, which the company views as key advantages for AI infrastructure development.

"Nostrum gives us secured power today along with a development pipeline and a great local team we're excited to work with."

The acquisition represents a strategic pivot for IREN, which has traditionally focused on bitcoin mining but is now expanding into AI cloud services, according to Bitcoin.com. The company's entry into the European market through Spain underscores the growing demand for AI compute capacity across the continent.