IREN Shares Rise 4.8% After Securing License for 300-MW Spain Campus

IREN Limited (NASDAQ: IREN) shares rose 4.8% to $27.90, a $1.28 gain, after the company secured a civil works license for its planned 300-megawatt AI data center campus in Badajoz, Spain.

The project also has grid-connected power, and IREN continues consultations with local, regional and national officials as development moves forward. Badajoz is in Extremadura and will be the company’s first European campus under its strategy of developing and operating data centers directly.

The facility is designed for closed-loop liquid cooling, which recirculates cooling water to reduce water needs, and compatibility with NVIDIA’s DSX AI Factory Platform. IREN plans to offer managed AI cloud services from the site as computing capacity comes online. The company’s Mirantis acquisition expanded software tools that can manage computing resources and separate customer workloads.

Badajoz adds to IREN’s portfolio of more than 5 gigawatts of grid-connected power across North America, Europe and Asia-Pacific. IREN Europe has been established to oversee regional infrastructure and the planned cloud business. Initial operations at the campus are targeted for 2028.