IREN acquires Spanish AI data center developer Nostrum and enters the European market Odaily Planet Daily News: IREN, an AI infrastructure company transformed from a Bitcoin mining enterprise, announced the acquisition of Spanish AI data center developer Ingenostrum, S.L., also known as Nostrum Group, officially entering the European market. This transaction adds approximately 490 megawatts of secured and grid connected electricity resources to IREN, and brings about the development of an AI data center pipeline located in Spain. The Nostrum team has over 50 employees, covering development, engineering, construction, and operations. IREN stated that Europe is one of the largest and fastest-growing AI infrastructure markets in the world, and Spain, with its abundant renewable energy and strong fiber optic connections, is an important entry point into the European market. This acquisition is also the latest move by IREN to transform from a pure Bitcoin mining company to a global provider of AI and high-performance computing infrastructure. Previously, IREN announced plans to build an 800 MW data center park in South Australia and has signed a multi billion dollar AI cloud agreement with Microsoft and established a partnership with Nvidia. After the news was released, IREN's stock price rose nearly 4% on Monday, to around $62.