IREN Announces Major Data Center Plans for Australia

IREN, a leading provider of bitcoin mining and AI cloud services, has announced plans to build an 800-megawatt data center in Bundey, South Australia. The project is expected to create over 500 jobs during construction and add more than 200 ongoing skilled positions. The new facility will be one of the largest data centers in the Asia-Pacific region and marks IREN's first foray into the Australian market.

According to a statement from IREN, the transmission connection agreement for the project has been secured, allowing the company to support up to 800 megawatts without requiring network upgrades. The site also boasts submarine fiber connectivity to regional centers in Singapore, Indonesia, South Korea, and Japan.

The project is expected to be completed by 2028. IREN's stock declined 1.7% on Wednesday, reversing from a 3% advance in early trade, but shares are still trending towards a 2026 high and closing the gap to its record high, notched in November.