An update from Iris Energy ( (IREN) ) is now available.
On March 17, 2025, IREN Limited announced the signing of a 600MW grid connection agreement with AEP Texas Inc. for its Sweetwater 2 project in West Texas. This agreement is part of IREN’s strategy to advance its 2GW Sweetwater data center hub, enhancing its competitive edge in the data center infrastructure market. The project, which involves a $4.1 million non-refundable connection cost and $26.9 million in refundable deposits, is expected to be energized by late 2027. This development is significant for IREN as it secures real, deliverable capacity, minimizing development risks and ensuring readiness for future AI and cloud computing demands.
More about Iris Energy
IREN Limited is a company operating in the data center infrastructure industry, focusing on scalable data center solutions. The company is known for its significant presence in West Texas, where it has secured substantial power capacity to support its operations. IREN is positioning itself as a leader in the market by aligning its infrastructure with the demands of global AI and cloud computing firms.
YTD Price Performance: -31.07%
Average Trading Volume: 15,447,329
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $1.57B
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