Overview
- IREN completed the acquisition of Spain‑based Nostrum on June 15, 2026, giving the Nasdaq‑listed company its first major operational foothold in Europe.
- The deal adds about 490 MW of grid‑connected, secured power in Spain and a local development pipeline that reduces early site and permitting risk.
- Nostrum’s team of more than 50 development, engineering, construction and operations staff will operate under the IREN brand to speed project delivery.
- Investors reacted positively after the announcement, with IREN stock rising roughly 4.35% to $62.37, and the company says the deal raises its total power portfolio to about 5 GW.
- The acquisition follows Nostrum’s shift from renewables into data‑center development and Andera Partners backing, and it ties to IREN’s broader AI‑cloud push supported by reported multi‑billion‑dollar GPU financing; key risks to watch include execution timing, site permitting and scaling GPU supply.