IREN (IREN) Stock: Surges 4.80% as Firm Secures License for 300MW AI Data Center in Spain

TLDR

• IREN stock rallies 4.80% to $27.90 after securing a Spanish data center license.
• IREN’s planned 300MW Badajoz AI campus targets its first operations in 2028.
• IREN Europe launches with new leadership to advance the company’s AI expansion.
• Spain’s Badajoz AI facility will use closed-loop cooling to conserve water.
• IREN pairs its Mirantis software tools with plans for European AI cloud services.

IREN Limited expanded its European AI infrastructure plans after securing a civil works license for a 300MW Spanish data center. IREN (NASDAQ: IREN) stock surged 4.80% to $27.90, gaining $1.28 after recovering from an intraday low near $26.50. The company targets initial operations at its Badajoz campus in 2028.

IREN Limited, IREN

IREN Secures License for 300MW AI Data Center in Spain

IREN secured grid-connected power and a civil works license for its Badajoz campus in Extremadura. It continues consultations with local, regional, and national officials as development moves forward. Badajoz will become IREN’s first European campus under its strategy of directly developing and operating data centers.

The facility will use closed-loop liquid cooling to reduce water needs during operations. IREN also designed the site for compatibility with NVIDIA’s DSX AI Factory Platform. The infrastructure aims to support large computing systems serving European AI customers.

The project adds Spanish capacity to IREN’s announced network of more than 5GW of grid-connected power. That portfolio covers North America, Europe, and Asia-Pacific. IREN plans to serve customers with different data residency and computing requirements across those regions.

IREN Europe Establishes Leadership Team to Drive Expansion

IREN established IREN Europe to lead its regional operations and planned AI cloud offerings. Its European board will oversee local infrastructure and business development. The structure gives the company a regional base for customers seeking control over data and infrastructure.

IREN named Ángel Corcóstegui board chair and Roberto Purcaro executive director for Europe. Corcóstegui previously led Banco Santander and co-founded Magnum Capital. Purcaro brings more than 25 years of experience, including senior infrastructure and investment roles at Macquarie Capital.

IREN entered Europe in June 2026 after acquiring Spanish data center developer Nostrum Group. The transaction added a team of more than 60 employees with experience in Spanish data center development. Gabriel Nebreda, chief executive of IREN Spain, continues to lead the local business.

IREN Expands AI Cloud Services Following Mirantis Acquisition

IREN plans to provide managed AI cloud services from Badajoz as capacity becomes operational. The services will give customers options for running AI workloads within Europe. IREN intends to operate its own sites and retain direct control over infrastructure.

Its acquisition of Mirantis also expanded the software tools available for these services. The k0rdent AI platform can manage computing resources and separate customer workloads. Those features help organizations address European data residency, security, and governance requirements for their computing operations.

The platform integrates NVIDIA Infra Controller and NVIDIA Run into its management tools. IREN expects to offer these capabilities alongside its planned European computing capacity. The company will now advance site development while building its regional cloud business.

The post IREN (IREN) Stock: Surges 4.80% as Firm Secures License for 300MW AI Data Center in Spain appeared first on Blockonomi.