Galaxy Secures $1.4 Billion Financing to Boost Helios AI Datacenter Expansion
Galaxy Digital Inc. has closed a $1.4 billion project financing facility aimed at advancing its Helios datacenter campus in West Texas. This funding will support the initial retrofit and expansion needed to supply AI and high-performance computing (HPC) power under a long-term contract with CoreWeave Inc.
The financing package includes $350 million equity from Galaxy, with the remaining construction costs covered by the debt facility. The $1.4 billion debt carries an 80% loan-to-cost ratio and a 36-month term, secured by assets linked to the first phase of Helios's buildout. Key terms of this financing were disclosed in a recent SEC filing.
CoreWeave Commits to Full Capacity at Helios
Following this financing, Galaxy executed a second-phase lease agreement with CoreWeave, granting access to an additional 260 MW of critical IT load for AI and HPC tasks. CoreWeave also exercised its final option for an extra 133 MW, bringing its total commitment to the entire 800 MW of approved power capacity at Helios.
This agreement positions Galaxy to generate average annual revenues exceeding $1 billion over 15 years, assuming full utilization of the contracted IT load. The Helios campus is designed to scale significantly, with 2.7 GW of additional power capacity undergoing load studies and a maximum potential of 3.5 GW once fully developed.
Strategic Shift Toward AI Infrastructure
Mike Novogratz, Galaxy’s Founder and CEO, emphasized the company's transition beyond cryptocurrency, highlighting the importance of this project in establishing Helios as a major AI and HPC datacenter.
"We’re on track to deliver the first phase of power to CoreWeave by early 2026," Novogratz stated. "This project diversifies Galaxy’s business model and strengthens our position in the AI infrastructure sector."
About Galaxy
Galaxy (Nasdaq/TSX: GLXY) operates globally, offering digital asset platforms along with advanced datacenter infrastructure to support finance and AI applications. Their services include institutional trading, advisory, asset management, staking, and tokenization technologies. The company also invests in and manages datacenters designed to meet growing demands for scalable compute and energy solutions.
Headquartered in New York City, Galaxy maintains offices across North America, Europe, the Middle East, and Asia. More information is available on their official website.
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