IREN acquires Nostrum Group and strengthens its position in Europe with 490 MW of capacity
Mining company IREN has completed the strategic acquisition of Spanish data center developer for artificial intelligence, Ingenostrum, S.L., better known as Nostrum Group. This deal marks IREN's direct entry into the European market, providing access to the infrastructure and energy resources of the Old World.
As a result of the acquisition, IREN gains approximately 490 MW of secured energy capacity located in Spain. This is not just about available space — these are facilities already connected to the grid, ready for the deployment of high-performance computing. Additionally, a range of promising projects transfers to the company's portfolio, significantly expanding growth horizons.
Synergy of Mining and AI
An important aspect of the deal is the integration of the Nostrum team, which includes over 50 highly qualified specialists. They all move to IREN's staff and will continue their work, now under the brand of the mining giant. This allows not only preserving expertise in the design and construction of AI data centers but also instantly strengthening IREN's technical potential.
From my perspective, this acquisition is a brilliant example of consolidation between two adjacent sectors: cryptocurrency mining and infrastructure for artificial intelligence. IREN is not just expanding its geography — it is diversifying its business model by betting on next-generation energy-intensive computing. The AI market is experiencing a massive hunger for capacity, and those who manage to secure energy blocks in Europe will find themselves in a winning position.