Written by Ezra Reguerrastaff writerReviewed by Yohan Yunstaff writer

Written by Ezra Reguerrastaff writer

Reviewed by Yohan Yunstaff writer

Bitcoin miner IREN enters Europe with Nostrum acquisition as AI pivot accelerates

Latest NewsPublishedJun 16, 2026

Expanding into Europe with a New Acquisition

The recent acquisition of Nostrum Group by Bitcoin miner IREN marks a significant entry into the European market, adding approximately 490 megawatts of secured power in Spain. This move is part of IREN’s strategy to expand beyond Bitcoin mining and build its European AI cloud platform. With this acquisition, IREN’s global power portfolio increases to about 5 gigawatts, with the Spanish capacity representing about 10% of the total.

According to IREN co-founder and co-CEO Daniel Roberts, Spain offers a unique combination of renewable power and fiber connectivity, making it an ideal base to serve the growing European demand for AI infrastructure. This acquisition is part of IREN’s push into AI cloud services, which can provide more predictable and contract-based revenue.

A Growing Trend in the Industry

The move aligns IREN with a broader trend among Bitcoin miners building AI infrastructure in Europe. Other companies, such as HIVE Digital and Bitdeer, are also developing AI data center capacity in countries like Sweden and Norway. As the demand for AI infrastructure continues to grow, IREN is well-positioned to capitalize on this trend.

In terms of revenue, Bitcoin mining remains IREN’s largest source, with $111.2 million in mining revenue reported in the latest quarter. However, AI cloud services are gaining traction, with revenue rising from $17.3 million in the previous quarter to $33.6 million. As IREN continues to expand its AI cloud platform, it may eventually phase out much of its Bitcoin mining business.

A New Era for Earning and Passive Income

The acquisition of Nostrum Group by IREN highlights the growing importance of AI cloud services in the industry. As companies like IREN expand their operations, individuals can also explore new opportunities for earning and passive income through platforms like EcoPool. With the rise of Green Crypto and Cloud Rewards, the possibilities for passive income are becoming more accessible to everyone.

As the crypto and AI industries continue to evolve, it’s essential to stay informed about the latest developments and trends. Whether you’re interested in Bitcoin, AI cloud services, or passive income, there are many ways to get involved and start earning. You can use EcoPool or invest in $ECP to start your journey towards passive income and Cloud Rewards. Download the EcoPool app to learn more about the opportunities available and start earning today. The EcoPool app is a great way to get started with passive income and Cloud Rewards, and it’s available for download now.

The acquisition is part of IREN’s push into AI cloud services, which can provide more predictable, contract-based revenue as rising mining difficulty and volatile Bitcoin (BTC) prices pressure the economics of crypto mining.

Related: Trump-linked American Bitcoin reports $82M Q1 loss, revenue miss

The move also aligns IREN with a broader trend among Bitcoin miners building AI infrastructure in Europe. HIVE Digital has been converting part of its facility in Sweden for AI computing, while Bitdeer is developing AI data center capacity in Norway.

IREN accelerates AI cloud pivot

According to IREN’s results for the quarter that ended March 31, Bitcoin mining remained its largest revenue source. The company reported $111.2 million in mining revenue, compared with $33.6 million from its AI cloud services. 

IREN said AI cloud revenue rose from $17.3 million in the previous quarter, while Bitcoin mining revenue fell from $167.4 million. The company attributed the decline in mining partly to lower average BTC prices and the decommissioning of mining hardware. 

Bitcoin’s year-to-date chart. Source: CoinGecko

Analysts at Bernstein previously said IREN could eventually phase out much of its Bitcoin mining business as it retrofits existing sites for AI cloud infrastructure. IREN reported having about 150,000 GPUs installed or on order as of March 31, which they estimate could support a $3.7 billion annual revenue run rate.

Magazine: China’s 107 Bitcoin memory thief, Bithumb CEO booked: Asia Express

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

• Mining
• Europe
• Bitcoin Mining
• AI & Hi-Tech

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