IREN expands AI cloud platform to Europe by acquiring Spain's Nostrum Group, adding 490MW power capacity.

IREN Limited has agreed to acquire Nostrum Group, a Spanish data center developer, marking its entry into the European market. This acquisition adds about 490MW of secured, grid-connected power in Spain and expands IREN's power portfolio to 5GW, supporting large-scale AI data center development. Spain's favorable policies, regulatory environment, and renewable energy resources make it an attractive location for AI infrastructure. The deal enhances IREN's capabilities with Nostrum's experienced local team and supports its global AI Cloud platform growth. The acquisition is subject to customary closing conditions.