According to a press release on Monday, IREN Limited has completed the acquisition of Ingenostrum, SL (Nostrum Group), establishing its presence in Europe through the acquisition of the Spanish AI data center developer.
The transaction adds approximately 490MW of power connected to Spain’s secure electricity grid to IREN’s portfolio and includes a pipeline of future projects. More than 50 employees in development, engineering, construction and operations will also join the company.
According to the company, this acquisition will create a foundation for IREN to support the accelerating demand for AI cloud across Europe. Nostrum’s business will continue to operate under the IREN name.
Commenting on the move, co-founder and co-CEO Daniel Roberts said Europe is a rapidly growing market for AI infrastructure, while Spain offers favorable conditions such as renewable energy availability and a strong fiber network. He said the acquisition provides both short-term power capacity and long-term development potential.
Nostrum CEO Gabriel Nebreda said the company is developing one of the most advanced AI infrastructure pipelines in Spain, and partnering with IREN will allow it to execute projects faster and at scale in line with market demand.
