IREN Completes Acquisition of Nostrum Group Expanding AI Cloud Platform to Europe
NEW YORK, June 15, 2026 — IREN Limited 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 […] The post IREN Completes Acquisition of Nostrum Group Expanding AI Cloud Platform to Europe appeared first on HPCwire .
The accelerating demand for AI compute infrastructure and the strategic importance of energy-efficient data centers are driving consolidation and global expansion in the sector.
This acquisition signifies a growing trend of companies proactively securing grid-connected power and expanding their geographic footprint to meet the burgeoning requirements of AI cloud platforms, highlighting the critical link between energy and AI compute.
IREN now has a significant presence in the European AI data center market, with secured power capacity and a development pipeline, expanding the competitive landscape and offering new AI compute options outside traditionally dominant regions.
- · IREN Limited
- · European AI market
- · AI cloud users
- · Grid infrastructure development in Spain
- · Competitors without secured power access
- · Regions with limited energy resources
IREN gains access to significant grid-connected power and new potential clients in Europe for its AI cloud services.
Increased competition for power-rich locations in Europe and a heightened focus on energy-efficient AI data center development across the continent.
Potential for acceleration of sovereign AI initiatives in Europe, leveraging improved domestic compute infrastructure and reduced reliance on non-European providers.
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