IREN announced it has entered into an agreement to acquire Ingenostrum, S.L., also known as Nostrum Group, a next-generation data center developer based in Spain, as the company expands its AI cloud infrastructure operations into Europe.
The acquisition adds approximately 490 megawatts of secured, grid-connected power capacity in Spain along with an additional development pipeline, increasing IREN’s overall power portfolio to 5 gigawatts.
IREN said the transaction establishes a strategic European platform for the company and strengthens its ability to meet growing customer demand for AI infrastructure and cloud services across the region.
According to the company, Spain offers favorable conditions for large-scale AI data center development, including supportive AI policy frameworks, renewable energy availability, strong connectivity infrastructure, and a constructive regulatory environment.
The acquisition also brings Nostrum’s local development, engineering, construction, and operations teams into IREN’s organization as part of the company’s broader AI cloud expansion strategy.
IREN operates as a vertically integrated AI cloud provider focused on large-scale data centers and GPU infrastructure supporting AI training and inference workloads across North America, Europe, and the Asia-Pacific region.
The transaction remains subject to customary closing conditions.
KEY QUOTES:
“This acquisition establishes a strategic platform in Europe for IREN. Nostrum adds high-quality sites, an experienced local team and a leading position in an attractive market for AI infrastructure. These capabilities support the next phase of growth of our vertically integrated AI Cloud platform.”
Daniel Roberts, Founder And Co-CEO, IREN
“We are excited to join IREN and help accelerate the development of AI infrastructure in Europe. With IREN’s vision, expertise and global platform, we are well positioned to serve the growing needs of customers in Europe, including sovereign AI programs.”
Gabriel Nebreda, CEO, Nostrum Data Centers
