IREN Limited completed the energization of its 1.4 GW Sweetwater 1 substation, connecting the high‑voltage facility to the ERCOT grid and marking a key milestone in the development of the company’s 2 GW Sweetwater campus.
The energization removes a critical power bottleneck for IREN’s AI‑compute strategy, enabling the rapid deployment of large‑scale GPU clusters for hyperscalers and advanced AI firms. The company has secured 4.5 GW of power capacity, plans to install 150,000 GPUs by the end of 2026, and has a $9.7 billion, five‑year agreement with Microsoft that underpins its revenue growth.
"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," said Daniel Roberts, Co‑Founder and Co‑CEO.
Sweetwater 1 spans 1,300 acres and delivers 1.4 GW of capacity; Sweetwater 2 adds 600 MW on 500 acres, bringing the campus to a total of 2 GW. The sites are powered 100 % by renewable energy and are engineered for high rack densities with direct‑to‑chip liquid cooling, allowing power delivery to ramp progressively as additional data‑center modules are commissioned.
The energization demonstrates IREN’s execution capability and positions the company to accelerate AI infrastructure deployment, support its Microsoft partnership, and advance its long‑term growth trajectory in the high‑density AI market.
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