Bitcoin mining company IREN has acquired Nostrum, significantly boosting its power capacity by approximately 490 megawatts in Spain. This move marks a strategic expansion beyond its core crypto mining operations into the broader European market.
According to CoinTelegraph, the acquisition supports IREN's plans to develop an AI cloud platform across Europe, indicating a diversification of its business model. The secured power capacity in Spain is a key asset as the company scales its infrastructure.
For Japanese investors and market participants, IREN's expansion highlights growing interest in combining crypto mining with AI-driven cloud services, a trend that could influence technology and energy sectors in Asia as well.