IREN completes acquisition of Spain's Nostrum Group, marking entry into European AI market

• IREN has finalized the buyout of Ingenostrum, S.L. (Nostrum Group), establishing its first operational footprint in Europe.
• The transaction absorbs 490MW of secured, grid-connected power capacity in Spain along with an extensive localized development pipeline.
• Nostrum’s 50-plus specialist workforce will fully integrate into the global IREN brand to capture booming continental AI cloud demand.

IREN (NASDAQ:IREN), a leading vertically integrated AI Cloud infrastructure provider, today announced the formal completion of its acquisition of Ingenostrum, S.L., widely known as Nostrum Group.

The closing of the deal effectively secures IREN's entry into the high-growth European digital market, scaling the company's total global power portfolio to approximately 5 gigawatts (GW).

Financially, market optimism around IREN's rapid transition from its legacy footprint into a foundational AI infrastructure powerhouse continues to swell.

Following the early-morning confirmation of the completed acquisition, IREN stock climbed over 11% in pre-market and early trading sessions, changing hands at $62.98.

The company’s total market capitalization currently stands at $21.36 billion.

Operationally, Spain represents a highly competitive entry node for European hyperscale expansion.

The region boasts a highly favorable regulatory environment for next-generation digital infrastructure, extensive high-speed fiber connectivity, and structurally affordable, abundant renewable energy assets.

Nostrum Group spent years transforming its footprint from a renewable engineering firm into a premier data center pipeline, making it an ideal plug-and-play platform for IREN's intensive GPU cluster deployments.

By integrating Nostrum’s established, 50-person local team—spanning deep technical expertise across development, engineering, construction, and data center operations—IREN plans to aggressively accelerate construction timelines.

Moving forward, all localized assets and pipeline expansions within the territory will operate natively under the core IREN brand.