# Iron Mountain Data Center Capex and Sites Source: https://savrn.com/data-center-capital-atlas/company/iron-mountain Markdown alternate of the page above; the site index is https://savrn.com/llms.txt --- Named sites 3 Site-level commitments the atlas ties to Iron Mountain Disclosed site capital $1.0B Sum of named sites with a stated dollar figure. Not a capex total; see the spending table Disclosed capacity 628 MW Sum of named sites with a stated megawatt figure Financing transactions 0 Transactions naming Iron Mountain or tied to one of its sites Spending ## Reported and guided spending Audited, reported and guided figures as the filing or release states them. Reported lines are what was spent; guidance is what management said it expects. They are shown side by side and never combined. | Period | Kind | Amount | As stated | Sources | | --- | --- | --- | --- | --- | | FY2025 | reported | ≥$1.8B | $1,767.5M in full-year 2025 ($1,747.0M growth + $20.6M recurring) | | | FY2024 | reported | $1.4B | up from $1,441.8M in 2024 | | | 1H2025 | reported | $961M | first-half 2025 alone was $961.2M vs. $576.8M in 1H 2024 | | | 1H2024 | reported | $577M | $576.8M in 1H 2024 | | | n.a. | backlog | n.a. | n.a. The $10B pipeline claim is not confirmed; Iron Mountain's own materials state ~1.3 GW developable capacity rather than a $10B pipeline figure | | Named sites ## Where Iron Mountain builds Virginia 3 sites · $1.0B disclosed Open the Virginia investment tracker → | Site | State | Place | Capital | MW | Status | Sources | | --- | --- | --- | --- | --- | --- | --- | | Richmond data center campus (RCH-1 to RCH-4)Construction started June 2026 | [Virginia](https://savrn.com/data-center-capital-atlas/virginia) | Sandston, Henrico County | ≥$1.0B | 200 | construction | | | Iron Mountain Manassas holdings | [Virginia](https://savrn.com/data-center-capital-atlas/virginia) | Manassas | n.a. | 400 | announced | | | Iron Mountain VA-9targeted for Q4 2026 | [Virginia](https://savrn.com/data-center-capital-atlas/virginia) | n.a. | n.a. | 28 | announced | | Financing ## Financing transactions No financing transaction in the atlas names Iron Mountain or attaches to one of its sites as of October 8, 2026. The record ## Sourced facts on Iron Mountain - At Q2 2025 Iron Mountain reported 450 MW operating and 96% leased, 202 MW under construction and 60% pre-leased, 628 MW held for development, and ~1.3 GW total developable across 30 data centers, framed by management as nearly tripling capacity. - By mid-2026 roughly 85 MW of new capacity had come online against ~450 MW operating. - Iron Mountain added 100+ acres supporting 350+ MW across Richmond and Manassas, toward 1.2 GW globally. - Phoenix and Frankfurt site-level figures were n.a. in the fetched record. Sources ## Sources for Iron Mountain Every source cited on this page, once each. The full atlas source register is at [Capital Atlas sources](https://savrn.com/data-center-capital-atlas/sources). - resources.ironmountain.com[Iron Mountain](https://resources.ironmountain.com/solution-guides/d/data-centers-richmond-campus) - datacenterdynamics.com[DCD](https://www.datacenterdynamics.com/en/news/iron-mountain-starts-work-on-data-center-campus-near-richmond-virginia/) - virginiabusiness.com[Virginia Business](https://virginiabusiness.com/iron-mountain-plans-1b-data-center-campus-in-henrico/) - ironmountain.com[Iron Mountain news](https://www.ironmountain.com/data-centers/about/news-and-events/news/2024/november/data-centers-iron-mountain-expands-planned-data-center-capacity) - resources.ironmountain.com[VA-9 solution guide](https://resources.ironmountain.com/solution-guides/d/data-centers-northern-virginia-va-9) - s204.q4cdn.com[Q4 2025 supplemental](https://s204.q4cdn.com/148941814/files/doc_financials/2025/q4/Q4-2025.pdf) - s204.q4cdn.com[Q2 2025 supplemental](https://s204.q4cdn.com/148941814/files/doc_financials/2025/q2/Q2-2025-SRP.pdf) - resources.ironmountain.com[Iron Mountain blog](https://resources.ironmountain.com/blogs-and-articles/d/data-centers-speed-scale-and-solutions-blog-by-gary-aitkenhead) - s204.q4cdn.com[Q2 2025 earnings presentation](https://s204.q4cdn.com/148941814/files/doc_financials/2025/q2/IRON-MOUNTAIN-Q2-2025-Earnings-Presentation.pdf) ### REIT and developer: one page each [Aligned Data Centers 1](https://savrn.com/data-center-capital-atlas/company/aligned-data-centers)[Cloverleaf Infrastructure 1](https://savrn.com/data-center-capital-atlas/company/cloverleaf-infrastructure)[Cologix 0](https://savrn.com/data-center-capital-atlas/company/cologix)[Compass Datacenters 3](https://savrn.com/data-center-capital-atlas/company/compass-datacenters)[CRG (Clayco) 1](https://savrn.com/data-center-capital-atlas/company/crg-clayco)[CyrusOne 7](https://savrn.com/data-center-capital-atlas/company/cyrusone)[DataBank 4](https://savrn.com/data-center-capital-atlas/company/databank)[Digital Realty Trust 8](https://savrn.com/data-center-capital-atlas/company/digital-realty)[EdgeConneX 0](https://savrn.com/data-center-capital-atlas/company/edgeconnex)[Equinix 2](https://savrn.com/data-center-capital-atlas/company/equinix)[Fermi Inc. (Fermi America) 1](https://savrn.com/data-center-capital-atlas/company/fermi-inc)[Flexential 0](https://savrn.com/data-center-capital-atlas/company/flexential)[H5 Data Centers 2](https://savrn.com/data-center-capital-atlas/company/h5-data-centers)[Iron Mountain 3](https://savrn.com/data-center-capital-atlas/company/iron-mountain)[Novva Data Centers 1](https://savrn.com/data-center-capital-atlas/company/novva-data-centers)[Prime Data Centers 4](https://savrn.com/data-center-capital-atlas/company/prime-data-centers)[QTS Realty Trust (Blackstone) 7](https://savrn.com/data-center-capital-atlas/company/qts-realty-trust)[Rowan Digital Infrastructure 1](https://savrn.com/data-center-capital-atlas/company/rowan-digital-infrastructure)[Sabey Data Centers 3](https://savrn.com/data-center-capital-atlas/company/sabey-data-centers)[SB Energy 4](https://savrn.com/data-center-capital-atlas/company/sb-energy)[STACK Infrastructure 4](https://savrn.com/data-center-capital-atlas/company/stack-infrastructure)[Tract 6](https://savrn.com/data-center-capital-atlas/company/tract)[Vantage Data Centers 7](https://savrn.com/data-center-capital-atlas/company/vantage-data-centers) The figure beside each provider is its count of named sites in the atlas. Part of the [North American Data Center Capital Atlas](https://savrn.com/data-center-capital-atlas), refreshed every Tuesday, Thursday and Saturday. Site commitments overlap reported capital expenditure and overlap one another, so this page shows each figure as its source states it and never adds them into a single deployment number. Informational, not investment advice. The SAVRN reference set ## Seven references, one system Capital, delay, policy, water, grid, permits and scarcity are one system seen from seven sides. Each reference is primary-sourced, refreshed on a schedule, and links into the others, so a project can be followed from the money committed to the docket that stopped it. Delay Watchlist Project-level slippage: named projects, jurisdictional actions, utility and federal dockets, SEC disclosures, and the interconnection queue. [Open the watchlist →](https://savrn.com/data-center-delay-tracker) Moratorium Tracker The policy layer: every state measure and local moratorium mapped and cited, with one page per state. Open the tracker → Water Tracker Every federal, state, local and interstate water measure that touches a data center, plus a fifty-state water ledger. Open the water tracker → Grid Operator Watchlist ERCOT, PJM, MISO, CAISO, SPP, NYISO, ISO-NE and FERC: the large-load rules, filings and queue positions that decide whether a site can energize. Open the watchlist → Permits and Power Development Data center and substation permits, large loads in the interconnection queues, and the power plants planned to serve them, refreshed hourly from public records. Open the permits tracker → SAVRN Scarcity Tracker Eleven primary-sourced indicators of AI infrastructure scarcity, one composite index, read against the token index, SAVRN's own cost basis and the frontier ceiling. Open the scarcity tracker → Have a specific address? Site Intelligence reads all seven references against one location, county, utility and grid operator included, and cites every finding. [Check an address →](https://savrn.com/site-intelligence)