IREN Limited has completed the acquisition of Ingenostrum, S.L. (Nostrum Group), a Spanish AI data‑center developer, as announced in a Monday press release.
Strategic Expansion into Europe
By adding roughly 490 MW of secured, grid‑connected power in Spain, IREN expands its footprint across the European market. The deal also secures a pipeline of future projects that will reinforce the company’s capacity to meet rising AI cloud demand.
Operational Integration and Workforce
More than 50 specialists in development, engineering, construction, and operations transfer to IREN, bolstering the firm’s technical expertise. The acquired assets will continue operating under the IREN brand, ensuring a seamless transition for existing clients.
Market Implications and Investor Outlook
Co‑founder and co‑CEO Daniel Roberts highlighted Europe’s rapid growth in AI infrastructure and Spain’s favorable renewable‑energy and fiber‑network conditions. The acquisition promises near‑term power capacity and long‑term development potential, positioning IREN to attract investors interested in AI, blockchain, and crypto‑related workloads.