IREN, a company previously focused on Bitcoin mining, is entering Europe through the acquisition of Spain-based Nostrum Group. Multiple outlets report that the deal strengthens IREN’s infrastructure position by adding about 490 megawatts of secured power in Spain. The acquisition is presented as part of IREN’s broader shift toward building AI-related infrastructure, including an AI cloud platform in Europe.
The coverage also describes IREN as expanding beyond mining into AI infrastructure projects in more than one region. While the reports emphasize the European expansion and the secured power capacity in Spain tied to Nostrum, they also frame the move as accelerating IREN’s AI pivot. Overall, the sources agree on the key elements of the transaction: IREN buys Nostrum Group, the transaction supports development of AI data center capacity backed by secured power, and the company uses the acquisition to broaden its footprint into Europe while pursuing AI infrastructure initiatives globally.
