$IREN secures power when no one else can


800MW secured in Australia, IREN’s first announced APAC campus
➯ Located 78 miles northeast of Adelaide
➯ Connection uses four 330kV feeder exits into the utility substation
➯ $IREN says this can support up to 800MW without network upgrades
➯ Energization starts from 2028
➯ The site has submarine fiber connectivity into Singapore, Indonesia, South Korea, and Japan
➯ South Australia targets 100% net renewable energy by 2027, which helps AI infrastructure
Macquarie kept an Outperform rating and $90 PT, saying the site gives IREN direct exposure to APAC AI demand. Canaccord also raised its PT from $70 to $79, mainly tied to the Microsoft project
IREN-1.6%
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