IREN Completes Acquisition of Nostrum Group Expanding AI Cloud Platform to Europe
Rhea-AI Summary
IREN (NASDAQ: IREN) has completed the acquisition of Nostrum Group, a Spain-based developer of grid-connected AI data centers. The deal adds about 490MW of secured, grid-connected power plus a development pipeline, marks IREN’s entry into Europe, and brings a local team of over 50 employees.
Positive
- Acquisition adds approximately 490MW of secured, grid-connected power in Spain
- Provides IREN’s entry into the European AI infrastructure market
- Brings a local team of 50+ development, engineering, construction and operations staff
- Nostrum adds an AI data center development pipeline in Spain
Negative
- None.
News Market Reaction – IREN
In the Jun 15 session, IREN gained 1.81%, reflecting a mild positive market reaction. Our momentum scanner triggered 3 alerts that day, indicating moderate trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Acquisition,AI Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 07 | AI acquisition Europe | Positive | +7.7% | Agreed to acquire Nostrum, adding 490MW in Spain and expanding to 5GW. |
| May 05 | AI platform acquisition | Positive | +10.6% | Agreed to acquire Mirantis for about $625M to bolster AI cloud delivery. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
AI-focused acquisitions have previously led to positive price reactions for IREN, with prior moves of 7.65% and 10.63% on similar “acquisition,AI” announcements.
This announcement completes IREN’s acquisition of Spain-based Nostrum Group, following the May 7 agreement that expanded its power portfolio to 5GW and added about 490MW of secured power in Spain. It also sits within a broader M&A push, including the Mirantis deal for roughly $625 million to strengthen AI cloud delivery. Alongside large GPU financing and major AI cloud contracts disclosed in recent filings, today’s completion reinforces IREN’s rapid pivot toward global AI infrastructure.
Key Terms
ai cloud technical
ai data centers technical
grid-connected power technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
NEW YORK, June 15, 2026 (GLOBE NEWSWIRE) -- IREN Limited (NASDAQ: IREN) (“IREN”) today announced it has completed the acquisition of Ingenostrum, S.L. (Nostrum Group), a developer of grid-connected AI data centers based in Spain.
The acquisition marks IREN’s entry into the European market, adding approximately 490MW of secured, grid-connected power in Spain and an additional development pipeline. Nostrum also brings a team of more than 50 people across development, engineering, construction and operations.
The acquisition establishes a strong foundation for IREN to serve rapidly growing AI Cloud demand across Europe, one of the largest and fastest growing markets.
Nostrum’s operations will continue under the IREN brand.
Daniel Roberts, Co-Founder and Co-CEO of IREN, said:
“Europe is one of the largest and fastest-growing markets for AI infrastructure, and Spain is among its most compelling entry points, with abundant renewables and strong fiber connectivity. Nostrum gives us secured power today along with a development pipeline and a great local team we're excited to work with.”
Gabriel Nebreda, CEO of Nostrum Group, said:
“We have spent years assembling one of Spain's most advanced AI infrastructure pipelines. Joining IREN means we can now develop it at the speed and scale Europe's rapidly growing demand for AI infrastructure requires.”
About IREN
IREN is a vertically integrated AI Cloud provider, delivering large-scale data centers and GPU clusters for AI training and inference. IREN’s platform is underpinned by its expansive portfolio of grid-connected land and power in renewable-rich regions across North America, Europe and APAC.
Contacts
Investors
ir@iren.com
Media
media@iren.com
Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or IREN’s future financial or operating performance. Forward-looking statements include information concerning possible or assumed future results of operations, including descriptions of our business plan and strategies, revenue targets and trends we expect to affect our business. These statements often include words such as “anticipate,” “believe,” “may,” “can,” “should,” “could,” “might,” “plan,” “possible,” “project,” “strive,” “budget,” “forecast,” “expect,” “intend,” “target”, “will,” “estimate,” “predict,” “potential,” “continue,” “scheduled”. Forward-looking statements may also be made, verbally or in writing, by members of our Board or management team in connection with this news release.
These forward-looking statements are based on management’s current expectations and beliefs. These statements are neither promises nor guarantees, but involve and are subject to known and unknown risks, uncertainties and other important factors that may cause IREN’s actual results, performance or achievements to differ materially from any future results performance or achievements expressed or implied by the forward-looking statements, including IREN’s ability to successfully execute on its growth strategies and operating plans, achieve its targeted annualized AI Cloud revenue, continue to develop its existing data center sites, design and deploy direct-to-chip liquid cooling systems, and diversify and expand into the market for high performance computing solutions (including the market for cloud services and potential colocation services), along with other important factors discussed under the caption “Risk Factors” in IREN’s Annual Report on Form 10-K, filed with Securities and Exchange Commission (the “SEC”) on August 28, 2025 and our other filings with the SEC. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any forward-looking statement included in this press release speaks only as of the date of such statement. Except as required by law, IREN disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.
