But I wouldn't say it's a niche if you look at the size of the EU even if it "hasn't being doing that well" it's still a lot of purchasing power
And especially in recent years there has been an increasing push away from US cloud providers and this somewhat evening out the playing field of "newcomers" compared to Amazone, MS, Google.
Also because HN is quite US/SV focused and differences in business culture especially compared to SV about e.g. businesses doing blog post and similar you don't really see much at all from this marked on HN. But that doesn't mean it's not a big marked.