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← IREN
Tue, Jan 21, 2025

IREN business update: 57 EH/s plan, $1bn ATM facility, Sweetwater progress

Source file ↗

Key points

  • New $1 billion at-the-market equity facility announced for general corporate purposes
  • Expanding capacity to 57 EH/s by H2 2025 (50 EH/s on track for H1 2025)
  • Initiating direct-to-chip liquid cooling to enable cloud & colocation opportunities
  • Advancing Sweetwater construction — 1,400MW substation targeted for April 2026 energization
  • Progressing a multi-gigawatt data center development pipeline