IREN Limited completed its acquisition of Spain‑based Nostrum Group, adding 490 MW of grid‑connected power capacity and marking the company’s first AI data‑center footprint in Europe; the news lifted IREN stock 4.35 % to $62.37.
Acquisition Overview
The transaction closed on Monday after the initial disclosure on May 7, and Nostrum’s assets will operate under the IREN brand. The deal brings a ready‑made development roadmap, renewable‑energy infrastructure, and a team of more than 50 specialists in engineering, construction management, and facility operations.
Operational Benefits
By inheriting existing power infrastructure, IREN avoids the time and cost of building a new European platform from scratch. The newly acquired sites host extensive data‑center facilities and GPU‑computing clusters designed for AI training and inference workloads, strengthening IREN’s position in a fast‑growing regional market.
Market Reaction
Investors with exposure to blockchain and crypto‑related cloud services responded positively, driving the share price upward. Analysts view the expansion as a strategic step that could enhance IREN’s appeal to crypto miners seeking reliable, renewable‑energy‑backed AI and blockchain infrastructure.