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IREN adds 4% premarket as company unveils 800MW Australian AI data center campus
Key takeaways
- The agreement secures a high-voltage grid connection capable of supporting up to 800MW of power for the campus without requiring major network upgrades.
- IREN said the project remains on track for initial energization beginning in 2028, subject to regulatory approvals and other conditions.
- Management highlighted strong regional demand for AI infrastructure, noting a widening gap between projected computing needs and available capacity across Asia-Pacific.
The agreement secures a high-voltage grid connection capable of supporting up to 800MW of power for the campus without requiring major network upgrades.
IREN said the project remains on track for initial energization beginning in 2028, subject to regulatory approvals and other conditions. The site will also benefit from submarine fiber connectivity linking it to key Asia-Pacific markets, including Singapore, Indonesia, South Korea and Japan.
Management highlighted strong regional demand for AI infrastructure, noting a widening gap between projected computing needs and available capacity across Asia-Pacific. South Australia's push toward 100% net renewable energy by 2027 was also cited as a key competitive advantage for the development.
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