REN, the artificial intelligence (AI) infrastructure company and former Bitcoin miner, has acquired the Spanish data center developer Ingenostrum, S.L., known as Nostrum Group. The company reported that this strategic operation marks its formal entry into the European market. The move consolidates its transition from digital asset mining toward global-scale, high-performance computing.
This acquisition adds approximately 490 megawatts (MW) of secured, grid-connected power in Spain, a key entry point due to its abundance of renewable energy and strong fiber optic connectivity. For the financial market, the move reinforces the value of crypto companies diversifying their operations into AI; reflecting this, IREN shares (NASDAQ: IREN) reacted upward on Wall Street, surpassing $60 per unit.
With the integration of a team of more than 50 professionals and ongoing global projects—including multibillion-dollar agreements with Microsoft and Nvidia—IREN’s next step will focus on converting these megawatts into fully operational cloud computing capacity.
Source: https://goo.su/FTIKel
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