IREN acquires Nostrum Group, adding 490MW in Spain
The acquisition expands IREN's AI Cloud platform into Europe, leveraging Spanish renewables and fiber connectivity.
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Renewable-powered data centers for AI and high-performance computing
iren.comLast updated
In short: IREN pivoted from Bitcoin mining to AI infrastructure, securing massive funding and major contracts with Microsoft, NVIDIA, and Dell.
The acquisition expands IREN's AI Cloud platform into Europe, leveraging Spanish renewables and fiber connectivity.
It is IREN's first Australian project and one of the largest in Asia-Pacific.
The systems will be deployed at Childress, Texas, with commissioning targeted for early 2027, increasing ARR to $4.4bn.
The notes have a 1.00% coupon due 2033, with net proceeds of $2.96bn.
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