Galaxy Digital has announced it has closed a $1.4 billion project financing facility to fund the retrofit and expansion of its Helios data center campus in West Texas. This financing will support the first phase of delivering power and facilities for artificial intelligence (AI) and high-performance computing (HPC) workloads, as part of a long-term agreement with CoreWeave.
Under the agreement, CoreWeave will gain access to an additional 260 megawatts (MW) of critical IT load for its operations, on terms similar to those of the first phase lease earlier in 2025. CoreWeave has also exercised its final option with Galaxy Digital to access another 133 MW of critical IT load. Overall, these commitments total the full 800 MW of approved power capacity at the Helios site.
According to Galaxy Digital, the multi-phase partnership with CoreWeave is expected to generate over $1 billion in average annual revenue for the next 15 years, assuming full capacity utilization and based on internal capital expenditure estimates and the contractual terms.
The company is advancing plans to further scale the Helios campus, targeting eventual support for up to 3.5 gigawatts (GW) of power for compute infrastructure. At present, 2.7 GW of additional power capacity is under various stages of study for possible expansion. These developments position Helios as a major US site targeting hyperscale data center deployments supporting AI and HPC workloads.
“This financing marks a major milestone in our transformation of Helios into a next-generation AI and HPC datacenter campus,” said Mike Novogratz, Founder and CEO of Galaxy. “We’re on track and excited to deliver the first phase of power to CoreWeave beginning in early 2026. This project is a key step in diversifying Galaxy’s business model as we expand beyond crypto and into the broader AI infrastructure space.”
Source: Galaxy Digital
