Two Australian brothers, Daniel and William Roberts, found themselves in an unexpected situation after their ambitious crypto project took a wrong turn in rural America. In December 2024, their company, Iren, proposed building a massive $US50 billion ($71 billion) data centre outside Kiowa, Oklahoma, a town with just 600 residents. The project was set to be as powerful as all Australian data centres combined, but it came with a major condition: Pittsburgh County would need to waive 85 per cent of property taxes for 25 years.
The brothers' plan seemed like a stroke of luck for the small town, but the deal quickly turned sour. The tax waiver request raised eyebrows among local officials, who were caught between the promise of economic growth and the long-term financial impact of such a concession. The situation left the Roberts brothers in a bind, stuck in a small-town America they never anticipated navigating.
The project's scale and the brothers' demands have put Pittsburgh County in a difficult position. While the data centre could bring significant investment and jobs to the area, the tax waiver could strain the county's budget for decades. The brothers' vision for Iren now hangs in the balance, as local officials weigh the pros and cons of the deal.