IREN Limited (NASDAQ:IREN) ("IREN") today announced it has entered into an agreement to acquire Ingenostrum, S.L. (Nostrum Group), a next-generation data center developer based in Spain.

The acquisition marks IREN's entry into the European market and increases its power portfolio to 5GW. It adds approximately 490MW of secured, grid-connected power in Spain, together with an additional development pipeline, enhancing IREN's ability to service observed customer demand in Europe.