Galaxy Closes $1.4 Billion Project Financing Facility to Accelerate Helios AI Datacenter Development
Galaxy Digital (NASDAQ:GLXY) has secured a landmark $1.4 billion project financing facility to accelerate the development of its Helios AI datacenter campus in West Texas. The company has provided $350 million in equity, with the debt facility covering remaining construction costs at an 80% loan-to-cost ratio.
CoreWeave has expanded its commitment by executing a second-phase lease agreement for an additional 260 MW of critical IT load, plus exercising an option for 133 MW, bringing their total commitment to the full 800 MW of approved power capacity. Galaxy projects average annual revenue exceeding $1 billion over the 15-year lease term.
The Helios campus has potential to scale to 3.5 GW power capacity, with 2.7 GW currently under load study. Initial power delivery to CoreWeave is scheduled for early 2026.
Galaxy Digital (NASDAQ:GLXY) ha ottenuto una storica linea di finanziamento di progetto da 1,4 miliardi di dollari per accelerare lo sviluppo del campus datacenter Helios nel West Texas. La società ha apportato 350 milioni di dollari in capitale proprio, mentre la parte di debito coprirà i restanti costi di costruzione con un rapporto prestito-su-costo dell'80%.
CoreWeave ha ampliato il suo impegno sottoscrivendo un contratto di locazione di seconda fase per ulteriori 260 MW di carico IT critico e esercitando un'opzione per 133 MW, portando il proprio impegno complessivo ai 800 MW di capacità energetica approvata. Galaxy prevede ricavi medi annui superiori a 1 miliardo di dollari nel corso del contratto di locazione quinquennale esteso a 15 anni.
Il campus Helios può arrivare fino a 3,5 GW di capacità, con 2,7 GW attualmente in fase di studio di carico. La fornitura iniziale di energia a CoreWeave è prevista per l'inizio del 2026.
Galaxy Digital (NASDAQ:GLXY) ha asegurado una histórica línea de financiación de proyecto de 1.400 millones de dólares para acelerar el desarrollo de su campus de centro de datos Helios en el oeste de Texas. La compañía ha aportado 350 millones de dólares en capital, mientras que la financiación mediante deuda cubrirá los costes de construcción restantes con una relación préstamo-sobre-coste del 80%.
CoreWeave ha ampliado su compromiso firmando una segunda fase de arrendamiento por 260 MW adicionales de carga IT crítica y ejerciendo una opción por 133 MW, elevando su compromiso total a los 800 MW de capacidad eléctrica aprobada. Galaxy proyecta ingresos medios anuales superiores a 1.000 millones de dólares durante el plazo de arrendamiento de 15 años.
El campus Helios tiene potencial para escalar hasta 3,5 GW de capacidad, con 2,7 GW actualmente en estudio de carga. La entrega inicial de energía a CoreWeave está programada para principios de 2026.
Galaxy Digital (NASDAQ:GLXY)가 텍사스 서부에 위치한 헬리오스 AI 데이터센터 캠퍼스 개발을 가속화하기 위해 역사적인 14억 달러 규모의 프로젝트 금융 시설을 확보했습니다. 회사는 3.5억 달러의 자본을 투입했으며, 나머지 건설비는 80% 대출대비비용(loan-to-cost) 비율의 부채 시설로 충당됩니다.
CoreWeave는 추가 260MW의 중요 IT 부하에 대한 2단계 임대 계약을 체결하고 133MW 옵션을 행사해 총 승인 전력 용량인 800MW 전체를 약속했습니다. Galaxy는 15년 임대 기간 동안 연평균 매출이 10억 달러를 초과할 것으로 예상합니다.
헬리오스 캠퍼스는 최대 3.5GW 전력 용량으로 확장될 가능성이 있으며, 현재 2.7GW는 부하 분석 중입니다. CoreWeave에 대한 초기 전력 공급은 2026년 초로 예정되어 있습니다.
Galaxy Digital (NASDAQ:GLXY) a obtenu une ligne de financement de projet historique de 1,4 milliard de dollars pour accélérer le développement de son campus de centres de données Helios dans l'ouest du Texas. La société a apporté 350 millions de dollars en fonds propres, la dette couvrant les coûts de construction restants à un ratio prêt/coût de 80 %.
CoreWeave a renforcé son engagement en signant un bail de deuxième phase pour 260 MW supplémentaires de charge IT critique et en exerçant une option pour 133 MW, portant son engagement total à la pleine capacité approuvée de 800 MW. Galaxy prévoit des revenus annuels moyens dépassant 1 milliard de dollars sur la durée du bail de 15 ans.
Le campus Helios peut atteindre 3,5 GW de capacité, 2,7 GW étant actuellement en étude de charge. La première livraison d'énergie à CoreWeave est prévue début 2026.
Galaxy Digital (NASDAQ:GLXY) hat eine wegweisende Projektfinanzierung in Höhe von 1,4 Milliarden US-Dollar gesichert, um den Ausbau seines Helios AI-Rechenzentrums-Campus in Westtexas zu beschleunigen. Das Unternehmen stellt 350 Millionen US-Dollar Eigenkapital bereit, während die Fremdfinanzierung die verbleibenden Baukosten mit einem Loan-to-Cost-Verhältnis von 80% abdeckt.
CoreWeave hat sein Engagement ausgeweitet, indem es einen Mietvertrag für die zweite Phase über zusätzliche 260 MW kritische IT-Last abgeschlossen und eine Option über 133 MW gezogen hat, womit sich das Gesamtengagement auf die vollen 800 MW genehmigter Leistungskapazität erhöht. Galaxy rechnet über die 15-jährige Mietlaufzeit mit einem durchschnittlichen Jahresumsatz von mehr als 1 Milliarde US-Dollar.
Der Helios-Campus kann auf bis zu 3,5 GW Leistungskapazität skaliert werden; derzeit befinden sich 2,7 GW in der Laststudie. Die erste Energieversorgung für CoreWeave ist für Anfang 2026 geplant.
- Secured major $1.4 billion financing facility for datacenter development
- Projected annual revenue of over $1 billion from CoreWeave agreements
- CoreWeave committed to full 800 MW of approved power capacity
- Significant expansion potential with up to 3.5 GW power capacity possible
- Successfully diversifying beyond crypto into AI infrastructure
- High debt leverage with 80% loan-to-cost ratio
- Substantial initial equity requirement of $350 million
- First phase power delivery not starting until early 2026
Insights
Galaxy secures $1.4B financing for AI datacenter expansion, projecting $1B annual revenue from CoreWeave's 15-year commitment.
Galaxy Digital has secured a
The financing coincides with CoreWeave executing a second-phase lease agreement for an additional 260 MW of critical IT load, followed by exercising its final option for another 133 MW. These moves solidify CoreWeave's commitment to the full 800 MW of approved power capacity at Helios. Based on contractual terms and internal estimates, Galaxy projects average annual revenue exceeding
What's particularly significant is Galaxy's strategic pivot beyond cryptocurrency into AI infrastructure. The company is positioning Helios to become one of the world's largest AI datacenter campuses, with 2.7 GW of additional power capacity under load study and potential for up to 3.5 GW at full buildout. The first phase of power delivery to CoreWeave is expected in early 2026, marking a tangible milestone in this transformation. This infrastructure play represents a substantial diversification of Galaxy's revenue streams and business model, reducing its dependence on crypto market volatility while capitalizing on the surging demand for AI computing resources.
Landmark financing to support long-term agreement with CoreWeave and fast-track delivery of critical AI and HPC infrastructure in
CoreWeave Executes Second-Phase Lease Agreement for Helios Datacenter Expansion
"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."
Galaxy has provided the
The financing follows a string of major developments at the Helios datacenter campus. In August, Galaxy executed the lease agreement with CoreWeave for the second phase of its Helios datacenter development. Under this agreement, CoreWeave will access an additional 260 MW of critical IT load for its AI and HPC operations, structured on terms similar to the first phase lease signed earlier this year. CoreWeave recently exercised its final option with the Company to access an additional 133 MW of critical IT load for its AI and HPC operations.
With these additional agreements, CoreWeave has now committed to the full 800 MW of approved power capacity at the Helios datacenter campus. Galaxy anticipates generating average annual revenue of more than
Galaxy continues to advance its long-term infrastructure plan at Helios, with the goal of building one of the largest AI datacenter campuses in the world. The Company has 2.7 GW of additional power capacity under various stages of load study. At full buildout, the Helios datacenter campus has the potential to support up to 3.5 GW power.
"We're executing with focus and discipline to transform Helios into one of the largest and most advanced AI datacenter campuses in the world," said Mr. Novogratz. "That scale is only possible because of the strategy and groundwork we've put in place and the momentum our team is building every day."
About Galaxy
Galaxy (Nasdaq/TSX: GLXY) is a global leader in digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence. Our digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. In addition, we invest in and operate cutting-edge data center infrastructure to power AI and high-performance computing, meeting the growing demand for scalable energy and compute solutions in the
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The information in this document may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934, as amended and "forward-looking information" under Canadian securities laws (collectively, "forward-looking statements"). Our forward-looking statements include, but are not limited to, statements regarding our or our management team's expectations, hopes, beliefs, intentions or strategies regarding the future. Statements that are not historical facts, including statements about our HPC business plans and the parties, perspectives and expectations regarding the financing and status of the campus development, are forward-looking statements. In addition, any statements that refer to estimates, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this document are based on our current expectations and beliefs concerning future developments and their potential effects on us taking into account information currently available to us. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks include, but are not limited to: (1) risks related to retrofitting our existing facility from mining to AI and HPC infrastructure, including the timing of construction and its impact on lease revenue; (2) risks associated with the financing, including the ability to maintain financial covenants and ongoing obligations thereunder; (3) changes to AI and HPC infrastructure needs and their impact on future plans at the Helios campus; (4) risks associated with the leasing business, including those associated with counterparties; (5) costs related to the HPC plans and proposed operations and strategy; (6) changes in applicable laws or regulations; (7) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (8) changes or events that impact the cryptocurrency and AI/HPC industry, including potential regulation, that are out of our control; (9) the risk that our business will not grow in line with our expectations or continue on its current trajectory; (14) the possibility that our addressable market is smaller than we have anticipated and/or that we may not gain share of it; (15) the possibility that there is a disruption or change in power dynamics impacting our results or our current or future load capacity; (16) any delay or failure to consummate the business mandates or achieve its business pipeline goals; (17) liquidity or economic conditions impacting our business; (18) technological challenges, cyber incidents or exploits; and (19) those other risks contained in filings we make with the Securities and Exchange Commission (the "SEC") from time to time, including in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, filed with the SEC on August 5, 2025, and available on Galaxy's profile at www.sec.gov/edgar (our "Form 10-Q"). Factors that could cause actual results to differ materially from those described in such forward-looking statements include, but are not limited to, financing and construction terms and conditions, a decline in the digital asset market or general economic conditions; a delay or failure in developing infrastructure for our business or our businesses achieving our mandates; delays or other challenges in the AI/ HPC infrastructure business related to hosting, power or construction; and changes in applicable law or regulation and adverse regulatory developments. Should one or more of these risks or uncertainties materialize, they could cause our actual results to differ materially from the forward-looking statements. Except as required by law, we assume no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements. You should not take any statement regarding past trends or activities as a representation that the trends or activities will continue in the future. Accordingly, you should not put undue reliance on these statements.
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FAQ
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