490-megawatt grid connection + Microsoft and NVIDIA’s double endorsement—this acquisition directly maxes out the energy narrative. If the 800-megawatt project in South Australia actually gets done, iren has essentially hit the critical weak point of AI infrastructure.

CryptoWorld News reports that AI infrastructure company iren has acquired Spanish AI data center developer Ingenostrum, S.L. (also known as Nostrum Group). The deal will add approximately 490 megawatts of secured, grid-connected power resources and AI data center development pipelines to iren. iren plans to build an 800 megawatt data center campus in South Australia, and has signed an AI cloud agreement with Microsoft and established a partnership with NVIDIA. The company’s stock price rose nearly 4% on Monday, closing at $62.