IREN completes the acquisition of Nostrum Group: entry into the European market and 490 MW of new capacity
Mining company IREN has made a strategic move by completing the acquisition of AI data center developer Ingenostrum, S.L., better known as Nostrum Group. This deal not only expands IREN's geographic footprint but also marks the company's entry into the European market.
As a result of the acquisition, IREN gains access to a portfolio of secured energy capacities in Spain totaling approximately 490 MW. This is a significant addition to the company's existing assets. It is important to emphasize that these are not just sites, but data centers already connected to the power grid, which significantly accelerates their commissioning.
In addition to the capacities, IREN also acquires the Nostrum Group team, which includes over 50 highly qualified specialists. They will continue their work under the mining company's brand, ensuring continuity and preserving expertise in AI infrastructure development.
From my perspective, this move appears extremely forward-thinking. IREN is not just buying mining capacities—it is acquiring ready-made infrastructure and a team specializing in AI data centers. This allows the company to diversify its business and establish a strong position in the rapidly growing AI infrastructure segment in Europe. Given the current market conditions, where demand for AI computing power is growing exponentially, such an acquisition could become one of the key growth drivers for IREN in the coming years.