IREN Restricted has finalized its acquisition of Ingenostrum, S.L. (Nostrum Group), establishing a presence in Europe by way of the acquisition of the Spanish AI knowledge heart developer, in response to a Monday press launch.
The transaction provides round 490MW of secured, grid-connected energy in Spain to IREN’s portfolio and features a pipeline of future initiatives. Greater than 50 workers throughout growth, engineering, building and operations may also be a part of the corporate.
The acquisition creates a basis for IREN to help accelerating AI cloud demand throughout Europe, in response to the corporate. Nostrum’s enterprise will proceed to function beneath the IREN title.
Commenting on the transfer, co-founder and co-CEO Daniel Roberts stated that Europe is a quickly rising marketplace for AI infrastructure, whereas Spain gives favorable circumstances together with renewable vitality availability and robust fiber networks. He stated the acquisition delivers each near-term energy capability and long-term growth potential.
Nostrum CEO Gabriel Nebreda stated the corporate has developed considered one of Spain’s most superior AI infrastructure pipelines and that partnering with IREN will enable initiatives to be executed extra shortly and at better scale to satisfy market demand.
