IREN Buys Spain’s Nostrum to Enter Europe’s AI Cloud Market

📅 June 16, 2026 - IREN has closed its acquisition of Spain's Nostrum Group, giving the Sydney-based AI cloud operator its first European foothold and roughly 490MW of secured grid-connected power. The deal, whose financial terms were not disclosed, adds a local data center development team and pipeline aimed at customers chasing scarce AI infrastructure capacity across Europe right now.

For infrastructure buyers, the number that matters is not the purchase price. IREN did not disclose it. The number is 490MW. Secured power has become the hard currency of AI infrastructure, particularly in markets where GPUs can be ordered faster than substations can be approved.

IREN, founded in Australia and [...][... Check source for end of article ...]

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