NEW YORK, May 07, 2026 (GLOBE NEWSWIRE) -- IREN Limited (NASDAQ:IREN) ("IREN") today announced it has entered into an agreement to acquire Ingenostrum, S.L. (Nostrum Group), a next-generation data center developer based in Spain.

The acquisition marks IREN's entry into the European market and increases its power portfolio to 5GW. It adds approximately 490MW of secured, grid-connected power in Spain, together with an additional development pipeline, enhancing IREN's ability to service observed customer demand in Europe.

Spain provides an attractive backdrop for large-scale AI data center development, supported by favorable AI policy settings, a constructive regulatory and permitting environment, robust connectivity and abundant low-cost renewable energy.

The addition of Nostrum's experienced local team across development, engineering, construction, and operations further strengthens IREN's execution capabilities and supports the continued expansion of its AI Cloud platform globally.

Daniel Roberts, Founder and Co-CEO of IREN, said:

"This 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."

Gabriel Nebreda, CEO of Nostrum Data Centers, said:

"We are excited to join IREN and help accelerate the development of AI infrastructure in Europe. With IREN's vision, expertise and global platform, we are well positioned to serve the growing needs of customers in Europe, including sovereign AI programs."

Completion of the acquisition remains subject to customary closing conditions.

About IREN

IREN is a vertically integrated AI Cloud provider, delivering large-scale data centers and GPU clusters for AI training and inference. IREN's platform is underpinned by its expansive portfolio of grid-connected land and power in renewable-rich regions across North America, Europe and APAC.

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IREN Expands AI Cloud Platform to Europe with Acquisition of Nostrum Group