IREN<\/a>, said:<\/p>\n\u201cThis acquisition establishes a strategic platform in Europe for IREN. Nostrum adds high-quality sites, an experienced local team and a leading position in an attractive market for AI infrastructure. These capabilities support the next phase of growth of our vertically integrated AI Cloud platform.\u201d<\/p>\n
Gabriel Nebreda, CEO of Nostrum Data Centers, said:<\/p>\n
\u201cWe are excited to join IREN and help accelerate the development of AI infrastructure in Europe. With IREN\u2019s vision, expertise and global platform, we are well positioned to serve the growing needs of customers in Europe, including sovereign AI programs.\u201d<\/p>\n
Completion of the acquisition remains subject to customary closing conditions.<\/p>\n
About IREN<\/p>\n
IREN is a vertically integrated AI Cloud provider, delivering large-scale data centers and GPU clusters for AI training and inference. IREN\u2019s platform is underpinned by its expansive portfolio of grid-connected land and power in renewable-rich regions across North America, Europe and APAC.<\/p>\n
Contacts<\/p>\n
Investors
ir@iren.com<\/p>\n
Media
media@iren.com<\/p>\n
Forward-Looking Statements<\/p>\n
This news release contains \u201cforward-looking statements\u201d 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\u2019s 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 \u201canticipate,\u201d \u201cbelieve,\u201d \u201cmay,\u201d \u201ccan,\u201d \u201cshould,\u201d \u201ccould,\u201d \u201cmight,\u201d \u201cplan,\u201d \u201cpossible,\u201d \u201cproject,\u201d \u201cstrive,\u201d \u201cbudget,\u201d \u201cforecast,\u201d \u201cexpect,\u201d \u201cintend,\u201d \u201ctarget\u201d, \u201cwill,\u201d \u201cestimate,\u201d \u201cpredict,\u201d \u201cpotential,\u201d \u201ccontinue,\u201d \u201cscheduled\u201d. 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.<\/p>\n
These forward-looking statements are based on management\u2019s 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\u2019s 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\u2019s 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 \u201cRisk Factors\u201d in IREN\u2019s Annual Report on Form 10-K, filed with Securities and Exchange Commission (the \u201cSEC\u201d) 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.<\/p>\n
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\n FAQ
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What did IREN announce about acquiring Nostrum Group (IREN) on May 7, 2026?<\/p>\n
\n IREN announced it agreed to acquire Nostrum Group, a Spanish data center developer, entering the European market. According to the company, the acquisition expands IREN\u2019s AI Cloud platform, adds ~490MW secured grid-connected power, and increases its power portfolio to 5GW; closing is subject to customary conditions.
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How much additional power does the Nostrum acquisition add to IREN (NASDAQ: IREN)?<\/p>\n
\n The acquisition adds approximately 490MW of secured, grid-connected power in Spain. According to the company, this contributes to a combined power portfolio of 5GW and comes with an additional development pipeline and local execution teams.
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Will the Nostrum acquisition change IREN\u2019s presence in Europe and AI infrastructure (IREN)?<\/p>\n
\n Yes. The deal establishes IREN\u2019s strategic platform in Europe for AI data centers. According to the company, Spain offers favorable AI policy, permitting, connectivity, and low-cost renewable energy supportive of large-scale AI development.
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Are the financial terms of IREN\u2019s acquisition of Nostrum Group (IREN) public?<\/p>\n
\n No. The press release does not disclose purchase price or detailed commercial terms. According to the company, only operational metrics and pipeline additions were provided; financial consideration was not stated and remains undisclosed.
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When will IREN\u2019s acquisition of Nostrum Group (IREN) be completed?<\/p>\n
\n Completion timing is not fixed; the acquisition is subject to customary closing conditions. According to the company, the transaction must satisfy standard closing requirements before it becomes final, so timing and certainty remain pending.
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