The planned Matagorda County site spans more than 1,200 acres and is designed for high-performance computing and Bitcoin mining, with up to 2 gigawatts of power capacity.
Listed miners’ pretax cash costs reached about $75,500 per Bitcoin in the second quarter, while June hash prices fell to a record low of $27.70 per petahash per second per day.
The proposed design includes up to 1,152 Rubin GPUs, 576 Vera CPUs and 3.2 megawatts of power, with availability expected in the fourth quarter of 2026.
IREN energized its 1.4-gigawatt Sweetwater 1 data center in Texas, advancing its shift from Bitcoin mining to AI-focused infrastructure and cloud services.
