Every figure carries its source and date.
Quantitative claims identify the source and the date to which it is current. Published figures and our own estimates are distinguished.
Inspect the source logEvery figure sourced and dated
The evidence
before
the decision.
Original research for complex decisions in markets and public policy. Check every source and test the model's judgements yourself.
272 data centre tranches, mapped from the public record
Planned or proposedUnder constructionOperatingNot proceeding
Greater Sydney 95 tranchesGreater Melbourne 61 tranches- Tranches by locationGreater Sydney 95, Greater Melbourne 61, Western Australia 30, Queensland 21, Rest of New South Wales 16, Australian Capital Territory 15, South Australia 15, Rest of Victoria 9, Northern Territory 6, Tasmania 4
- DC-155 · Firmus Project Southgate
The register’s 272 tranches in 230 campuses, as at 21 October 2026. Source: inashanu register, evidence to 21 October 2026. In orange: DC-155 · Firmus Project Southgate, Launceston (St Leonards).
Notes on this figure
- Each mark is a tranche: a campus, or a stage of one with its own status.
- Where sites crowd, a mark is moved to the nearest free point, so a mark can sit up to 416 km from its site, in Greater Sydney.
- Each tranche’s status carries the date of the record that sets it. The sources behind each record are in the register, licensed to firms on request.
- Outline: Natural Earth, public domain, retrieved 12 October 2026.
Australia
The inashanu register follows 272 tranches in 230 data centre campuses as at 21 October 2026, each with its recorded status and the date of the record that sets it.
DC-155, in orange, is Firmus Project Southgate at Launceston (St Leonards), recorded as under construction at 84 MW as at 8 October 2026.
26 GW planned or proposed, 3.3 GW under construction
Planned or proposedUnder constructionOperatingNot proceedingNo IT figure published
Planned or proposed 26,032 MW across 111 tranchesLargest: DC-220 · Syncline Energy Victorian AI Hub, 2,400 MWUnder construction 3,309 MW across 32 tranchesLargest: DC-014a · CDC Marsden Park campus, 499 MWOperating 1,510 MW across 119 tranchesLargest: DC-071 · AirTrunk MEL1, 185 MWNot proceeding 250 MW across 10 tranchesLargest: DC-131 · GreenSquareDC Hazelmere data centre, 84 MW1,000 MW, the length of this reference line- Tranches in each rowPlanned or proposed, 111 tranches, 27 without a published figure; Under construction, 32 tranches, 3 without a published figure; Operating, 119 tranches, 57 without a published figure; Not proceeding, 10 tranches, 5 without a published figure
- The largest tranche in each rowDC-220 · Syncline Energy Victorian AI Hub, 2,400 MW; DC-014a · CDC Marsden Park campus, 499 MW; DC-071 · AirTrunk MEL1, 185 MW; DC-131 · GreenSquareDC Hazelmere data centre, 84 MW
IT capacity by recorded status where a figure is published, megawatts, as at 21 October 2026. Source: inashanu register, evidence to 21 October 2026. In orange: DC-155 · Firmus Project Southgate, Launceston (St Leonards).
Notes on this figure
- IT capacity is as each source states it. The planned or proposed row holds the approved, lodged, planned, announced and paused tranches; the not proceeding row holds the refused, withdrawn and cancelled ones.
- 92 tranches publish no IT figure; each is a dashed square beside its row’s bar.
- Each tranche’s status carries the date of the record that sets it.
The register’s 272 tranches by recorded status, as at 21 October 2026. Source: inashanu register, evidence to 21 October 2026. Recorded status Tranches IT capacity Tranches with no IT figure published Largest tranche Planned or proposed (approved, lodged, planned, announced and paused) 111 26,032 MW 27 DC-220 · Syncline Energy Victorian AI Hub, 2,400 MW Under construction 32 3,309 MW 3 DC-014a · CDC Marsden Park campus, 499 MW Operating 119 1,510 MW 57 DC-071 · AirTrunk MEL1, 185 MW Not proceeding (refused, withdrawn and cancelled) 10 250 MW 5 DC-131 · GreenSquareDC Hazelmere data centre, 84 MW The register’s 272 tranches by location, as at 21 October 2026. Source: inashanu register, evidence to 21 October 2026. Location Tranches Greater Sydney 95 Greater Melbourne 61 Western Australia 30 Queensland 21 Rest of New South Wales 16 Australian Capital Territory 15 South Australia 15 Rest of Victoria 9 Northern Territory 6 Tasmania 4 DC-155, Firmus Project Southgate, Launceston (St Leonards): under construction, 84 MW, as at 8 October 2026. The full register’s public fields are in the data explorer.
By recorded status
Most of the capacity in the register is planned or proposed.
The operating row adds the IT figures published for 62 of the register’s 119 operating tranches as at 21 October 2026; the other 57 publish none. It does not measure operating load and sits outside the pipeline total. National operating IT load was about 1,400 MW at the end of 2025. Source: DC Byte and Data Centres Australia, 27 April 2026.
Two studies published and three proposed.The proposed studies
The work, in the open
Published studies
Each study is published with the sources and dates its figures rest on: the data centre study with its data explorer, the Firmus analysis with its valuation workbook.
Published study
Digital infrastructure
Australian data centres, sized project by project to 2030.
The industry primer counts operating IT load apart from announced capacity, and builds its 2030 range from the tranches in its register.
Read the study103 primer pages
383 logged sources
PDF · Data explorer
Source: the published Australian data centre primer, sections 16 and 17. Evidence current to 21 October 2026. Prepared to demonstrate the standard applied to client work. No client information appears in it.
Published analysisFirmus at A$11.
Company valuation
Firmus at A$11.
What the IPO price required.
The withdrawn offer, read against its own record: the revenue per megawatt, capacity and funding the price required, with the model published.
Read the analysisData explorer
Explore the register and the range to 2030
The data explorer maps every tranche in the register against the transmission network, and sets the 2030 range beside the forecasts it is compared with.
The map: each campus with its status and IT load 
The range to 2030, beside the forecasts it is compared with
Open the data explorer Look inside the workbook
Source: the inashanu data explorer, from the register and the market model, evidence to 21 October 2026. Views of the published explorer.
The research programme
Proposed studies
Each proposal states its research question and the evidence it would need. A proposed study carries no findings until the work is complete and published.
Power, place and deliverability.
A proposed geospatial study of grid access and planning for data centres and batteries on urban and industrial sites.
Read the research questionThe useful life of compute.
Hardware lifetimes, compute pricing and replacement cycles examined through a proposed empirical asset model.
Read the research questionThe businesses behind the build.
Cooling, electrical systems and commissioning services examined as businesses with distinct capacity constraints.
Read the research questionThe assumptions behind a finding are shown with it.
Each study states the assumptions behind its scenarios and the basis of every figure. Where definitions differ, the comparison states what each figure measures.
Read a worked exampleWhat the evidence could not answer is listed.
The data-gap register records unanswered questions and their effect on the findings. Conclusions are bounded by the available evidence.
Read the limitationsCommissioned research
Fixed-scope products for investment committees
For investors and lenders taking a decision to an investment or credit committee, including private equity, infrastructure and private credit funds. A commission can start from a market question, or from a thesis and model that need a second read.
The scope of each product and its fee are published, and both are agreed in writing before work begins.
See the products and feesA different question? If this leaves your question open, or you would put it another way, write to research@inashanu.com. Questions that keep coming up shape what we study next.