IREN Stock Rises 6% on a Conditional ERCOT Classification

IREN Limited IREN rose 6.33% intraday after saying its 2GW Sweetwater Hub in Texas had been conditionally included in ERCOT's Batch Zero process as Base Load. Sweetwater 1 accounts for 1,400MW and Sweetwater 2 for 600MW, part of a global development portfolio the company puts above 5GW. IREN said ERCOT's classifications remain conditional and subject to ongoing approval processes. The high-voltage substation at Sweetwater 1 was energized earlier this year and 300MW of gross data center capacity is under construction, with delivery targeted for the fourth quarter of 2027. Other large-scale projects in IREN's pipeline also made Batch Zero. The company said it will fold those into its announced development portfolio once the relevant grid connection agreements are signed.