At NVIDIA GTC Berlin, IREN (NASDAQ: IREN) announced on Oct. 21, 2026 that it has established IREN Europe and secured the civil works license for a planned AI data center in Badajoz, Extremadura, Spain. The campus is planned to deliver approximately 300 MW of capacity, with initial operations targeted for 2028.

The announcement marks a significant step in the company's European expansion and is framed by IREN as a contribution to Europe's sovereign AI ambitions, with the company positioning itself to serve customers seeking greater choice over where their AI workloads run and how their data and infrastructure are managed on the continent.

A Foundation for European AI Cloud Capacity

IREN plans to offer AI cloud services from Badajoz, including managed services, aimed at customers with data residency and operational requirements in Europe. The campus is designed for compatibility with the NVIDIA DSX AI Factory Platform.

The Badajoz project is part of IREN's announced portfolio of more than 5 GW of grid-connected power across North America, Europe, and Asia-Pacific, a footprint the company says positions it to serve customers with different data residency requirements in each region.

"At NVIDIA GTC Berlin, we're laying out our plans for Europe. For customers in Europe, sovereign AI starts with two questions: where their data sits and who's running the infrastructure," said Daniel Roberts, Co-Founder and Co-CEO of IREN. "That's what IREN Europe is for: our own sites, run by our own people, with a board that's accountable in Europe. Ángel and Roberto have spent their careers building and financing infrastructure globally and in Iberia, and Badajoz is the first project in Europe."

The Badajoz Campus

At Badajoz, IREN has secured grid-connected power and the civil works license for the planned 300 MW campus. The company says it continues to be in close consultation with local, regional, and national authorities as the project advances.

The campus is designed around closed-loop liquid cooling, which the company says requires minimal water for cooling. It is also designed for compatibility with the NVIDIA DSX AI Factory Platform.

New European Leadership

Alongside the Badajoz announcement, IREN has established a European leadership structure. Ángel Corcóstegui has been appointed Chair of the newly established board of directors of IREN Europe, the holding company for the company's European operations, while Roberto Purcaro has been appointed Executive Director for Europe and joins the board.

IREN first entered Europe in June 2026 with the acquisition of Nostrum Group, a Spain-based data center developer, and its team of more than 60 people, led by Gabriel Nebreda, Chief Executive Officer of IREN Spain.

Corcóstegui brings a lengthy background in banking and infrastructure. He served as First Vice Chairman and Chief Executive Officer of Banco Santander, where he led the integration of Banco Santander and Banco Central Hispano. He co-founded Magnum Capital, a private equity firm focused on Spain and Portugal.

His infrastructure and energy experience includes chairing the engineering group Eptisa, Magnum Capital's control of the Portuguese wind operator Iberwind from 2008 to 2015, and a current seat as independent director of Moeve.

"Spain has exceptional conditions to become a European hub for AI digital infrastructure, thanks to its excellent connectivity and abundant, competitive renewable energy," said Corcóstegui. "It is an honor to chair IREN Europe, and I look forward to helping execute our growth plans."

Purcaro brings more than 25 years of international experience in infrastructure, energy transition, and digital infrastructure. Most recently, as Global Head of Complex Opportunities and Head of Italy at Macquarie Capital, he led the structuring of large-scale transactions involving multinational corporations, sovereign institutions, and global investors.

"Badajoz is where IREN Europe begins," said Purcaro. "IREN develops its own sites and operates them directly, and that's how we'll work in Europe. Our focus from here is the campus and the customers who'll use it."

Managed AI Cloud Services Backed by Software Capabilities

The European expansion is also underpinned by IREN's software capabilities. Following the completion of its acquisition of Mirantis, IREN's software, including k0rdent AI, can provision and manage AI infrastructure.

These capabilities include workload isolation and operational controls that the company says can help customers address data residency, security, and governance requirements.

k0rdent AI also integrates NVIDIA technologies, including NVIDIA Infra Controller (NICo) and NVIDIA Run:ai, into its unified platform. IREN intends to offer these capabilities alongside its European capacity as it comes online.

About IREN

IREN describes itself as a vertically integrated AI Cloud platform, delivering data centers, compute, and software for AI training and inference. The company's platform is underpinned by its portfolio of land and grid-connected power in renewable-rich regions across North America, Europe, and Asia-Pacific.

The Badajoz announcement, made at NVIDIA GTC Berlin, represents the first European project for the newly formed IREN Europe and, according to the company, provides the foundation for its European AI Cloud capacity, with initial operations at the Spanish campus targeted for 2028.

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