IREN Limited has announced that it has reached an agreement to purchase Ingenostrum, S.L. (Nostrum Group), a cutting-edge data center developer located in Spain.
The acquisition signifies IREN’s entry into the European market and expands its power portfolio to 5GW. It adds about 490MW of secured, grid-connected power in Spain, along with an extra development pipeline, bolstering IREN’s capacity to meet the growing customer demand in Europe.
Spain offers a compelling environment for the development of large-scale AI data centers, bolstered by favorable AI policy frameworks, a supportive regulatory and permitting landscape, strong connectivity, and plentiful low-cost renewable energy sources.
The inclusion of Nostrum’s skilled local team in development, engineering, construction, and operations enhances IREN’s operational abilities and facilitates the ongoing global growth of its AI Cloud platform.
Daniel Roberts, Founder and Co-CEO of IREN states, "This acquisition creates a strategic foundation in Europe for IREN. Nostrum brings premium websites, a skilled local team, and a top-ranking status in a desirable AI infrastructure market. These features facilitate the subsequent stage of expansion for our vertically integrated AI Cloud platform."
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Gabriel Nebreda, CEO of Nostrum Data Centers, states, “We are thrilled to collaborate with IREN and support the advancement of AI infrastructure in Europe. Thanks to IREN’s vision, knowledge, and international platform, we are optimally situated to meet the increasing demands of clients in Europe, which includes sovereign AI initiatives."
IREN is an AI Cloud provider that is vertically integrated, offering extensive data centers and GPU clusters for AI training and inference.
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IRAN's platform is supported by its extensive collection of grid-linked land and energy in areas abundant in renewable resources throughout North America, Europe, and APAC.
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IREN has recently finalized a five-year agreement for AI infrastructure cloud services with NVIDIA. According to the agreement, IREN will grant NVIDIA access to managed GPU cloud services for its internal AI and research tasks, along with orchestration and cluster management software developed in partnership with Mirantis.