Overview
- Shares rose roughly 8% to 10%, with Benzinga Pro citing a $50.44 intraday price and Insider Monkey noting a $49.48 close as investors bet on demand for data center and high‑performance computing.
- The company said it energized the 1.4 gigawatt Sweetwater 1 substation, linking the site to ERCOT, the power network that serves most of Texas.
- Sweetwater 1 is the first step in a planned 2 gigawatt campus, and IREN says power delivery will ramp as new buildings are constructed and commissioned.
- Co‑CEO Daniel Roberts credited on‑schedule delivery to disciplined execution, strong supplier relationships, and a vertically integrated build model.
- IREN plans to report fiscal third‑quarter results after the close on May 7, with analysts forecasting a 24 cent loss per share and about $218 million in revenue.