Guzowski Christopher sold $434K of IREN

IREN, a Nasdaq-listed AI cloud provider, plans a 900MW data centre campus near Wagga Wagga, NSW, with a potential AU$10B investment. The project, not yet part of its secured-power portfolio, aims for initial energisation in 2029 and could create over 500 construction jobs. IREN is engaging with the local community and expects to submit a scoping report to NSW authorities by late October.

IREN stock fell 9.4% after announcing a 900-MW data center project in Australia, which investors viewed as speculative. The decline followed a 5% drop tied to an unconfirmed cloud deal and negative commentary from Jim Cramer. The stock is below key moving averages, and the broader sector also declined, reflecting a risk-off market tone.

Iren plans a 900MW data center campus in Wagga Wagga, Australia, with a potential AU$10 billion investment. The project is in early assessment, targeting a 2029 grid connection. Iren will fund transmission costs and use renewable energy. The campus is not part of its 5GW secured-power portfolio. Iren operates data centers in North America and recently entered Europe via acquisition.

Cipher Digital (CIFR) fell 5% to $10.72 after pricing $850M zero-interest convertible notes. IREN (IREN) dropped 4%, and Applied Digital (APLD) declined 6%. Cipher's notes fund Barber Lake expansion; shares issued in exchange lack dilution protection. Contracted revenue growth must outpace share count increases.

Nasdaq-listed IREN and CDC Data Centres plan to invest over A$10 billion and A$15 billion respectively for data centre campuses in Wagga Wagga, NSW, near a landfill. Both projects require NSW government approval and offer community benefits. IREN's Redbank campus, costing over A$10 billion, aims for initial energisation in 2029, while CDC's project promises 1,500 construction jobs.

IREN announced a $10B data center in Wagga Wagga, Australia, doubling its early-stage pipeline to 1.7GW. The project expands beyond its North American focus, surpassing Firmus' abandoned 1.6GW Project Southgate. Local opposition to AI infrastructure is growing, with a nearby project facing backlash.