IREN (IREN) Enters European Market With Acquisition of Spanish Data Center Developer Nostrum Group

IREN Limited (NASDAQ:IREN) is one of the most promising long-term stocks to buy according to analysts. On June 15, IREN finalized its acquisition of the Spanish-based data center developer Ingenostrum, known as Nostrum Group. This move serves as the company’s official entry into the European market, securing ~490MW of grid-connected power in Spain along with an extensive development pipeline.

The deal integrates a team of over 50 specialists into IREN, encompassing expertise in engineering, construction, and operations. These resources will now operate under the IREN brand to support the company’s efforts in addressing the surging demand for AI infrastructure throughout Europe.

IREN (IREN) Enters European Market With Acquisition of Spanish Data Center Developer Nostrum Group

Company leadership highlighted that the acquisition leverages Spain’s strong renewable energy and fiber connectivity to scale AI operations quickly. By combining local assets with IREN Limited’s (NASDAQ:IREN) platform, the company aims to accelerate the deployment of infrastructure necessary to meet the region’s rapidly growing AI Cloud needs.

IREN Limited (NASDAQ:IREN) is an Australia-based company that owns and operates renewable energy-powered data centers. Its facilities are specially optimized for Bitcoin mining, AI cloud services, and other power-dense computing.

While we acknowledge the risk and potential of IREN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than IREN and that has 10,000% upside potential, check out our report about the cheapest AI stock.

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