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IREN Sweetwater 1 & 2

Last updated

Purpose-built AI campuses, Nolan & Fisher counties
Under construction

The biggest pure AI bet by any former bitcoin miner: IREN's two greenfield Sweetwater campuses total 2 GW, with the 1.4 GW first site energizing April 2026, backed by a $9.7B Microsoft cloud contract.

2.0 GWPlanned power
Developer
IREN (Iris Energy)
Owner
IREN
Tenant
IREN AI Cloud (incl. Microsoft $9.7B contract) + colocation/build-to-suit prospects
Power detail
2 GW combined at full buildout, Sweetwater 1: 1.4 GW; Sweetwater 2: 600 MW. Energization ≠ operational: data halls, GPUs, and cooling follow
Power source
ERCOT grid, 100% renewable-matched (IREN's model); 2.75 GW of grid connections secured in West Texas
Cooling
Direct-to-chip liquid cooling design (200 kW racks at sister Childress site)
Compute
Exclusively AI data centers: designed for Nvidia Blackwell-class GPUs
Construction start
2024 to 2025 (substation and site works)
Est. completion
SW1 substation energized May 2026; data center construction under way on roughly 300 MW of IT capacity at Sweetwater 1, targeted for delivery in Q4 2027; SW2 substation energization targeted 2027, capacity from 2028. IREN describes its September 2026 ERCOT base load classification as conditional.
Grid strategy
ERCOT grid
County
Nolan, Fisher
Nearest city
Sweetwater
Announced
2025-11-03