IREN shares rise as company announces major data center project in Australia
- IREN (IREN) shares increased by over 4% in pre-market trading on Wednesday.
- The company plans to build an 800-megawatt data center campus in South Australia, its first major project in the region.
- The facility will have a high-voltage grid connection to support up to 800MW without major upgrades.
- Initial energization is expected to begin in 2028, pending regulatory approvals.
- The site will connect via submarine fiber to key Asia-Pacific markets including Singapore and Japan.
- Over 500 construction jobs and more than 200 permanent skilled positions are anticipated once operational.
This development aligns with South Australia’s goal of achieving 100% net renewable energy by 2027, providing a competitive edge for IREN’s project amid rising demand for AI infrastructure across the region.
With plans for an 800MW data center, IREN aims to leverage abundant renewable energy and international connectivity, potentially reshaping its operational landscape significantly.(Source)
