IREN Limited (NASDAQ: $IREN) Falls 4.25% as Texas Governor Election Raises Data-Center Concerns
IREN shares fell 4.25% to $23.42 in early Wednesday trading after Democrat Gina Hinojosa won the Texas governor election. Hinojosa campaigned for a pause on new data-center permits until stronger protections are established for electricity customers, water supplies, and local communities. Her proposal has renewed attention on IREN’s planned 2,000 MW Sweetwater data-center hub, although her election has not yet imposed new restrictions or changed the project’s construction schedule.
IREN’s Sweetwater project still requires further grid approvals despite its conditional inclusion in ERCOT’s Batch Zero process. The company is building 300 MW of data-center capacity at Sweetwater 1, with delivery targeted for Q4 2027. The decline followed an 11.08% gain on Tuesday, when shares closed at $24.46.
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IREN shares fell 4.25% to $23.42 in early Wednesday trading after Democrat Gina Hinojosa won the Texas governor election. Hinojosa campaigned for a pause on new data-center permits until stronger protections are established for electricity customers, water supplies, and local communities. Her proposal has renewed attention on IREN’s planned 2,000 MW Sweetwater data-center hub, although her election has not yet imposed new restrictions or changed the project’s construction schedule.
IREN’s Sweetwater project still requires further grid approvals despite its conditional inclusion in ERCOT’s Batch Zero process. The company is building 300 MW of data-center capacity at Sweetwater 1, with delivery targeted for Q4 2027. The decline followed an 11.08% gain on Tuesday, when shares closed at $24.46.
#CryptoNewss