IREN

IREN-🇦🇺 Australia

Price: $21.30; as of Nov 6, 2026
Market cap: $9.0B; as of Nov 6, 2026

Sites & Capacity

Total active power (IT load)90 MW

In build capacity (IT load)678 MW**

Owned capacity share100%capacity-weighted, vs colocation

Projected AI capacity (IT load)*

ContractedUncontracted

Active & in build (6)

Image	Site	CapacityIT load · theoretical gross	Est. capacityend of year, IT load	Commentaries
Nov 5, 2026	Childress Childress, TX · USAUpdated Nov 5, 2026	Active 50 MW In build 150 MW Theoretical —	2028 521 MW 2030 521 MW	—
	Prince George Prince George, BC · CanadaUpdated May 7, 2026	Active 40 MW In build 0 MW Theoretical 50 MW	2028 40 MW 2030 40 MW	—
	Sweetwater 1 Sweetwater, TX · USAUpdated Sep 8, 2026	Active — In build 214 MW** Theoretical 1,400 MW	2028 514 MW 2030 999 MW	ERCOT: Base Load · 1,100 MW gross
	Nostrum Badajoz · SpainUpdated Nov 5, 2026	Active — In build 214 MW** Theoretical 300 MW	2028 214 MW 2030 200 MW	—
	Mackenzie Mackenzie, BC · CanadaUpdated Nov 5, 2026	Active — In build 72 MW Theoretical —	2028 72 MW 2030 72 MW	—
	Canal Flats Canal Flats, BC · CanadaUpdated May 7, 2026	Active — In build 27 MW Theoretical 30 MW	2028 27 MW 2030 27 MW	—

Pipeline portfolio (announced) (3)

Site	Planned capacity		Est. capacityend of year, IT load	Commentaries
Kiowa Kiowa, OK · USAUpdated Feb 5, 2026	1,600 MWtheoretical	2028	2028 100 MW 2030 600 MW	—
Bundey Bundey, SA · AustraliaUpdated Jun 3, 2026	800 MWtheoretical	2028	2028 50 MW 2030 300 MW	—
Sweetwater 2 Sweetwater, TX · USAUpdated Sep 8, 2026	600 MWtheoretical	2028	2028 50 MW 2030 300 MW	ERCOT: Base Load

ERCOT — ERCOT (Electric Reliability Council of Texas) operates the Texas grid. A large new load only gets energized once it has cleared ERCOT's interconnection process, so the label a block carries says how far along that approval is: Base Load: approved as firm load in ERCOT's planning models; energization still depends on the remaining steps.

*Projected AI capacity, bitcoin-mining sites excluded: the fleet online today, plus each block's remaining capacity once its scheduled delivery falls before that year end (the delivery end date; failing that the delivery start date; failing that the energization target plus one year), plus each pipeline site's planned capacity (the sum of its block targets, or its theoretical capacity when no block states one) one year after its first energization target. A bitcoin-mining site contributes only the AI capacity a block explicitly estimates for EoY 2028 — a conversion someone has assessed — counted in full, since what runs there today is mining. Past its last scheduled date, in 2027 and 2028 a site is assumed to keep adding its current in-build amount each year, up to its theoretical capacity in IT load. Blocks without a signed customer count in full (no haircut set in the common metrics).

** Estimated: the source reported this figure on a gross basis. It is shown in IT load by dividing by the PUE common metric, currently 1.4.