NEW YORK, May 01, 2026 (GLOBE NEWSWIRE) -- IREN Limited (NASDAQ:IREN) ("IREN") today announced the successful energization of its 1.4GW Sweetwater 1 data center site in Texas.

Energization marks the connection of the site's high-voltage substation to the ERCOT grid, representing a key milestone in the development of the broader 2GW Sweetwater campus.

Power delivery at Sweetwater 1 is expected to ramp progressively in line with the phased construction and commissioning of data centers at the site.

In an environment where power remains one of the primary constraints on AI infrastructure deployment, energization of Sweetwater 1 is an important step toward bringing grid-connected capacity online and reducing time-to-compute for customers.

Daniel Roberts, Co-Founder and Co-CEO at IREN, commented:

"Delivering Sweetwater 1 substation energization on schedule reflects our disciplined execution, the strength of our supply chain relationships and the efficiency of our vertically integrated development model. It is another example of our ability to design and construct large-scale infrastructure reliably and at speed to meet market demand."

About IREN

IREN is a vertically integrated AI Cloud provider, delivering large-scale data centers and GPU clusters for AI training and inference. IREN's platform is underpinned by its expansive portfolio of grid-connected land and power in renewable-rich regions across the U.S. and Canada.

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IREN Announces Successful Energization of Sweetwater 1