IREN expands its data center, AI operations to Australia with new deal. Bernstein shifts targets on three bitcoin miners. Bitcoin price slides.

The debt package helps IREN cover about 96% of the GPU spending needed to fulfill the Microsoft contract.

IREN Limited (NASDAQ:IREN) shares are trading higher Wednesday after securing transmission deal for planned 800MW South Australia data center.

The AI infrastructure firm secured a grid connection for a planned South Australian campus, with energization targeted for 2028.

IREN expands its data center, AI operations to Australia with new deal. Bernstein shifts targets on three bitcoin miners. Bitcoin price slides.

The announcement comes days after IREN secured $3.65 billion in financing to support its Microsoft AI contract.