TLDR: Galaxy Digital has secured a $1.4 billion loan to expedite the construction of its Helios AI datacenter in West Texas. This significant financing, combined with Galaxy’s $350 million equity, will fund the initial phase of the 3.5 GW facility. The datacenter will primarily serve CoreWeave, a GPU cloud provider, under a 15-year agreement for 800 MW of capacity, projected to generate $15 billion in revenue. This move marks a strategic pivot for Galaxy Digital into the burgeoning AI infrastructure market.
Galaxy Digital, a leading player in digital assets, has announced a monumental step into the artificial intelligence infrastructure sector, securing a $1.4 billion project financing facility. This substantial loan is earmarked to accelerate the development of its Helios AI datacenter campus located in West Texas. The funding, which was announced on July 27, covers approximately 80% of the construction costs for the first phase of the project, with Galaxy Digital contributing an additional $350 million in equity, bringing the initial phase’s total investment to $1.75 billion.
The Helios datacenter is poised to become one of the largest AI datacenter campuses globally, with a projected total power capacity of up to 3.5 gigawatts (GW) at full buildout. This massive scale is designed to meet the escalating demand for high-performance computing (HPC) and AI workloads.
A cornerstone of this development is a long-term agreement with CoreWeave, a prominent GPU cloud provider. CoreWeave has committed to leasing 800 megawatts (MW) of capacity at the Helios campus for its AI and HPC operations. This 15-year contract is anticipated to generate over $1 billion in average annual revenue for Galaxy Digital, potentially accumulating a total revenue of $15 billion over the duration of the agreement. The first phase of power delivery to CoreWeave is scheduled to commence in early 2026.
Beyond the CoreWeave commitment, the Helios facility will retain an additional 2.7 GW of capacity, offering significant flexibility and potential for future expansion with other clients. The loan itself is secured by all assets of Galaxy Helios I, a subsidiary of Galaxy Digital, and is set to mature on August 15, 2028.
Mike Novogratz, Founder and CEO of Galaxy, emphasized the strategic importance of this venture, stating, ‘This financing marks a major milestone in our transformation of Helios into a next-generation AI and HPC datacenter campus.’ He further added, ‘This project is a key step in diversifying Galaxy’s business model as we expand beyond crypto and into the broader AI infrastructure space.’ Novogratz also highlighted the company’s commitment, saying, ‘We’re executing with focus and discipline to transform Helios into one of the largest and most advanced AI datacenter campuses in the world.’ The choice of West Texas for the datacenter benefits from the region’s access to affordable energy and a favorable regulatory environment.
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This move signifies Galaxy Digital’s strategic pivot, leveraging its expertise in digital infrastructure to capitalize on the booming AI market, reflecting a growing trend among digital asset firms to diversify into AI compute capabilities.
