IREN Expands AI Data Center Footprint in Europe with Nostrum Acquisition

IREN Limited has solidified its European presence by completing the acquisition of Spain's Nostrum Group, gaining 490MW of secured power capacity and a local development pipeline. The deal marks IREN's strategic entry into the European AI infrastructure market, with shares rising 4.35% to $62.37 following the announcement.

The acquisition provides IREN with immediate operational capabilities in Spain, including development sites and a team of over 50 professionals across engineering, construction, and operations. This move accelerates IREN's expansion into AI Cloud infrastructure without the need to build a new platform from scratch.

Nostrum's operations will now operate under the IREN brand, enhancing the company's ability to serve AI training and inference workloads across Europe. The transaction underscores the growing demand for scalable data center solutions to support next-generation AI applications.