IREN Acquires Nostrum Group for 490 Megawatts of European AI Data Center Power

IREN acquired Spain-based Nostrum Group, a developer of AI data centers, on Monday, adding approximately 490 megawatts of secured, grid-connected power to its portfolio, according to the company. The acquisition also brings more than 50 employees across development, engineering, construction, and operations.

The deal marks IREN's continued pivot from bitcoin mining to AI and high-performance computing infrastructure. Spain offers renewable energy resources and fiber connectivity that support large-scale compute projects, positioning the company to serve growing European demand for AI infrastructure.