IREN Limited has agreed to acquire Ingenostrum, S.L. (Nostrum Group), a Spanish next-generation data center developer, marking IREN's entry into the European market. This acquisition adds about 490MW of secured, grid-connected power in Spain and expands IREN's power portfolio to 5GW, enhancing its AI Cloud platform's global reach. Spain's favorable AI policies, regulatory environment, connectivity, and renewable energy resources make it an attractive location for large-scale AI data centers. The deal strengthens IREN's development, engineering, and operational capabilities with Nostrum's experienced local team, supporting future growth in AI infrastructure across Europe. The acquisition is subject to customary closing conditions.
