IREN acquires Nostrum Group: European expansion of the mining giant
Mining corporation 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 confident entry into the European market and dramatically expands its operational capabilities.
As a result of the acquisition, IREN gains approximately 490 megawatts of already secured energy capacity located in Spain. This is not just about available space — it is fully prepared infrastructure with direct connection to the power grid, which is critical for scaling both mining operations and projects in the fields of high-performance computing (HPC) and AI.
In addition to ready-made capacity, IREN's portfolio also includes a substantial pipeline of future projects from Nostrum Group, opening up additional growth opportunities on the Iberian Peninsula. The Nostrum team, comprising over 50 highly qualified specialists, will be fully integrated into IREN's structure and will continue its operations under the parent company's brand.
This move is not merely geographic diversification. It is a pragmatic bet on cheap and renewable energy in Spain, as well as on growing European demand for computing resources for AI. IREN clearly demonstrates that the era of simple mining is fading, giving way to hybrid business models where Bitcoin mining serves as a foundation for higher-margin ventures.
Cryptalist Expert Opinion: The acquisition of Nostrum Group is a masterstroke. IREN is not just buying megawatts; it is acquiring a team with local expertise and established relationships with power grids. Amid tightening regulation and competition for energy in the U.S., betting on Southern Europe looks forward-thinking and reduces jurisdictional risks for the company.