IREN adds 4% premarket as company unveils 800MW Australian AI data center campus

IREN adds 4% premarket as company unveils 800MW Australian AI data center campusThe AI infrastructure firm secured a grid connection for a planned South Australian campus, with energization targeted for 2028. Jun 3, 2026, 1:01 p.m. 1 min readMake preferred on IREN (IREN) shares rose more than 4% in pre-market trading on Wednesday after the company announced plans for an 800-megawatt data center campus in South Australia, marking its first major Australian data center project.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.Co-Founder and Co-CEO Daniel Roberts said the project combines access to abundant renewable energy, international connectivity and a supportive policy environment. The campus is expected to create more than 500 construction jobs and over 200 permanent skilled positions once operational.Recently, Daniel Roberts said the company's long-term AI strategy is built on owning power, land and data centers.AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.More For YouStrategy's unloading of bitcoin may have rattled markets, but Citi said the bigger issue for BTC is a missing bid from new buyers.What to know: Citi said Strategy's recent bitcoin sale was part of a previously disclosed tax-optimization plan and does not alter the firm's broader strategy.The bank estimated spot bitcoin ETF flows explain roughly 45% of weekly BTC price moves and remain the best gauge of investor adoption.The bank expects sentiment to...Read full story