IREN Enters European Market with Acquisition of Spanish AI Data Center Developer Nostrum
June 15, 2026
IREN Enters European Market with Acquisition of Spanish AI Data Center Developer Nostrum
IREN, the bitcoin miner turned artificial intelligence infrastructure provider, has taken a significant step into the European market by acquiring Ingenostrum, S.L., better known as Nostrum Group, a Spain-based developer of AI data centers. The deal marks a strategic expansion of IREN’s global AI cloud platform and adds approximately 490 megawatts of secured, grid-connected power to its growing portfolio.
The acquisition also brings a team of more than 50 employees across development, engineering, construction, and operations, bolstering IREN’s capacity to scale its infrastructure in a region it sees as a key growth market. “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,” said Daniel Roberts, co-founder and co-CEO of IREN, in a statement on Monday.
This move comes just weeks after IREN announced plans for its first Australian data center campus, an 800-megawatt project in South Australia designed to serve AI demand across the Asia-Pacific region. Together, the two initiatives underscore IREN’s accelerating 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 signed a multibillion-dollar AI cloud agreement with Microsoft, partnered with Nvidia, and expanded its data center footprint across multiple continents.
The acquisition signals a broader industry trend: as demand for AI compute capacity surges, infrastructure providers are racing to secure both power and talent in strategic geographies. Spain’s abundant renewable energy resources and robust connectivity make it an attractive hub for energy-intensive AI workloads. For IREN, the Nostrum deal not only provides immediate capacity but also establishes a foothold in a region where regulatory support for digital infrastructure is growing. Following the announcement, IREN shares rose nearly 4% to trade at around $62, reflecting investor confidence in the company’s cross-continental expansion strategy.
Source: theblock
