Bitcoin miner IREN enters Europe with Nostrum acquisition as AI pivot accelerates

The acquisition adds about 490 megawatts of secured power in Spain as IREN expands beyond Bitcoin mining and builds its European AI cloud platform.

Bitcoin miner IREN has completed its acquisition of the Spanish data center developer Nostrum Group, marking its entry into Europe as the company builds out its artificial intelligence cloud business.

IREN said in a press release on Monday that the acquisition adds about 490 megawatts of secured, grid-connected power in Spain, along with a development pipeline and over 50 employees across engineering, construction, development and operations.

The deal expands IREN's global power portfolio to about 5 gigawatts, with the Spanish capacity representing about 10% of the total.

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