IREN has completed its acquisition of Spain-based Nostrum Group, expanding the company’s AI cloud infrastructure platform into Europe and adding approximately 490MW of secured, grid-connected power capacity. The transaction gives IREN an immediate foothold in one of Europe’s fastest-growing AI infrastructure markets while providing a pipeline of future data center development opportunities.
Nostrum, a developer of grid-connected AI data centers in Spain, brings more than 50 employees spanning development, engineering, construction, and operations. IREN said the acquisition establishes a foundation for serving growing demand for AI training and inference infrastructure across Europe. Nostrum’s operations will continue under the IREN brand.
Spain has emerged as an attractive location for AI infrastructure investment due to its growing renewable energy resources, available power capacity, and extensive international fiber connectivity. IREN said the acquisition provides both secured power assets available today and a broader development pipeline that can be expanded to support future AI cloud deployments.
• IREN completes acquisition of Spain-based Nostrum Group
• Adds approximately 490MW of secured, grid-connected power capacity
• Establishes IREN’s first major infrastructure footprint in Europe
• More than 50 employees join IREN across development, engineering, construction, and operations
• Provides additional AI data center development pipeline in Spain
• Nostrum operations will continue under the IREN brand
“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. Nostrum gives us secured power today along with a development pipeline and a great local team we’re excited to work with,” said Daniel Roberts, Co-Founder and Co-CEO of IREN.
🌐 Analysis
The Nostrum acquisition expands IREN’s infrastructure footprint beyond its established North American operations and reflects the growing importance of power availability as a strategic asset in the AI infrastructure market. The company has built its business around securing large-scale grid-connected power resources and developing data center campuses capable of supporting AI training and inference workloads.
IREN’s infrastructure portfolio now spans North America, Europe, and APAC. Prior to the Nostrum acquisition, the company controlled substantial data center and power assets in renewable-rich regions, including large-scale campuses in Canada and the United States. The company’s AI Cloud business has been deploying NVIDIA GPU infrastructure for enterprise and AI customers while continuing to expand its underlying power and land portfolio. With the addition of approximately 490MW in Spain, IREN gains a European platform that complements its existing strategy of owning or controlling the critical infrastructure layers—including power, land, data center development, and operations—required to support long-term AI demand.