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

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email IREN adds 4% premarket as company unveils 800MW Australian AI data center campus The AI infrastructure firm secured a grid connection for a planned South Australian campus, with energization targeted for 2028. By James Van Straten , AI Boost | Edited by Stephen Alpher Jun 3, 2026, 1:01 p.m. 1 min read Make preferred on What to know : IREN announced plans for an 800MW data center campus in South Australia, one of the largest AI infrastructure projects announced in the Asia-Pacific region. Shares rose about 4% in pre-market trading. 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 You Live markets: What's next as bitcoin re-tests February low for third time By Stephen Alpher 34 minutes ago One novel theory floating around social media says it's Iranian sanctions, not Strategy sales, that's behind this week's price crash. Read full story Latest Crypto News Clarity Act survival depends on the U.S. Senate getting a lot of non-crypto work done 2 minutes ago Live markets: What's next as bitcoin re-tests February low for third time 34 minutes ago Bitcoin hits Power Law level low that historically precedes a rebound 1 hour ago Grayscale launches lowest-fee U.S. Hyperliquid ETF as competition heats up around HYPE 1 hour ago Payment giants Stripe, Visa, Mastercard said to be among backers of soon-to-debut stablecoin platform 1 hour ago Crypto PACs go undefeated in June primaries as Fairshake scores bipartisan winning streak 1 hour ago Top Stories Bitcoin steadies at $67,000, faces critical juncture after sliding 9.5% in seven days 2 hours ago UK's financial watchdog cracks down on Premier League crypto partnerships 2 hours ago DeFi won't win over big banks until it fixes its hacking problem, executives say 3 hours ago Bitcoin momentum gauge hints at recovery. Experts remain cautious. 1 hour ago Bullish crypto bets lose $1.6 billion as ETH, SOL, DOGE drop 9% 8 hours ago Banks' survey says people don't want to rock the boat if stablecoin yield risks lending 4 hours ago