SWEETWATER, Texas (KTAB/KRBC) – Data center company IREN is expanding its presence in Sweetwater with the development of a second site, expected to create a 2-gigawatt data center hub that could be used for bitcoin mining and AI ventures.

IREN’s data centers are designed for bitcoin mining, AI cloud services, and other high-performance computing needs. The new Sweetwater facility will function as a data center hub, meaning it will house multiple interconnected data centers within a single location.

Co-Founder and Co-CEO Daniel Roberts announced the project in the company’s Q2 FY25 report,

highlighting its role in IREN’s broader growth strategy.

“We are also excited to announce transformative growth initiatives across the business. Firstly, Horizon 1, which is a new 75MW direct-to-chip liquid cooling deployment at Childress for AI / HPC. Secondly, developing a new 600MW Sweetwater 2 site located ~28 miles from our existing Sweetwater 1 project, expected to create a 2GW data center hub,” Roberts said.

IREN has already secured a 600 megawatt grid-connection agreement, completed grid network studies, and acquired 500 acres for the hub. Design work is underway for a direct fiber loop linking Sweetwater 1 and 2.

According to the report, the company remains focused on maximizing value, prioritizing single-tenant opportunities, and maintaining the flexibility to bootstrap with bitcoin mining.

FAQs

Project Timeline & Development

Sweetwater 1 (1.4GW) is on track to be energized by April 2026, with construction in progress, transformers and electrical equipment being procured, and site prep underway. Sweetwater 2 (600MW) is expected to go live in 2028.

Potential Tax Abatements & Employment Opportunities

The Municipal Development District stated that local tax entities would determine potential tax abatements, but no details are available. While official job projections haven’t been released, projects of this scale typically bring significant local employment and economic growth.

Partnerships

According to the Municipal Development District, IREN has not confirmed partnerships with other area companies (e.g., Lancium or Cruscoe) but is exploring multiple monetization pathways, including bitcoin mining and AI-related opportunities. Discussions with third parties are ongoing.

Impact on Community Water & Energy

IREN emphasizes sustainability and is advancing closed-loop, direct-to-chip liquid cooling across its data centers. In the future, more details on water usage and grid impact are expected to be shared.