Galaxy Completes Phase I of Its Helios Data Center Campus, Delivering 133 Megawatts of Critical IT Load to CoreWeave
Rhea-AI Summary
Galaxy (Nasdaq: GLXY) completed Phase I of its Helios data center campus in West Texas, delivering 200 MW of gross power and 133 MW of critical IT load to CoreWeave under a 15-year lease.
CoreWeave has committed to 526 MW of critical IT load across Phases I–III, the full 800 MW of gross power approved and contracted at Helios. These leases, which include two five-year extension options, are expected to generate more than $1 billion in average annual revenue. Helios has now transitioned to revenue-generating, AI-ready operations, while greenfield development of the 260 MW Phase II build is underway, with initial data hall deliveries targeted for the first half of 2027.
Positive
- Phase I delivers 133 MW critical IT load, transitioning Helios to revenue
- CoreWeave commits to 526 MW critical IT load under 15-year leases
- Helios leases expected to generate over $1 billion average annual revenue
- Phase I completed on schedule, with rent commencement in Q2 2026
Negative
- None.
News Market Reaction – GLXY
On the day this news was published, GLXY declined 2.64%, reflecting a moderate negative market reaction. Argus tracked a peak move of +4.8% during that session. Our momentum scanner triggered 7 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $274M from the company's valuation, bringing the market cap to $10.12B at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jun 23 | crypto investment | Negative | -5.3% | Strategic investment in Digital Prime Technologies and support for Tokenet platform. |
| Jun 15 | partnership update | Positive | +0.8% | Haruko integration with Kalshi’s perpetual futures exchange, benefiting Galaxy clients. |
| Jun 05 | crypto referral deal | Negative | -11.5% | Referral arrangement with Morgan Stanley for in‑kind creation of spot crypto ETPs. |
| Jun 02 | product launch | Negative | -5.7% | Launch of institutional OTC prediction markets trading via Galaxy’s Global Markets desk. |
| May 21 | conference participation | Negative | -3.1% | Announcement of participation in multiple investor and industry conferences. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent news for GLXY has more often coincided with negative next‑day moves, with only one modest gain out of five prior events.
Key Terms
greenfield development technical
hyperscale ai infrastructure technical
high-performance computing technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Milestone marks the on-schedule delivery of Phase I and Helios's transition to revenue generating operations, with Phase II development continuing on schedule
The completion marks Helios's transition from a large-scale construction project into a revenue-generating, AI-ready data center campus, and reflects Galaxy's ability to develop and deliver hyperscale AI infrastructure from concept through operations.
Greenfield development is underway on the 260 MW of critical IT Phase II build, with civil and structural work advancing and Phase II data hall deliveries expected to commence in the first half of 2027. Across Phases I through III, CoreWeave has committed to 526 MW of critical IT load — the full 800 MW of gross power currently approved and contracted at Helios — under 15-year leases that include two five-year extension options and are expected to generate more than
"Completing Phase I on budget and on schedule affirms Galaxy's position as an operator capable of executing hyperscale AI data center development," said Mike Novogratz, Founder and CEO of Galaxy. "Helios is now generating revenue across its entire 133 MW of IT load, and greenfield work on Phase II is already underway. The demand for high-density, AI-ready power is not a cycle; it is a structural shift, and Galaxy is built to meet it."
Helios remains a cornerstone of Galaxy's long-term data center strategy. Spanning more than 2,200 acres, the campus's total approved power capacity has expanded to 1.63 gigawatts ("GW"), with the potential to scale to as much as 3.6 GW. As demand for high-density, high-performance computing accelerates, access to reliable, scalable power has become the defining constraint for AI infrastructure, and the additional capacity materially extends Galaxy's development runway, anchoring the Company's mission to build a multi-campus, multi-tenant, multi-gigawatt data center platform designed to power the next generation of AI and high-performance computing workloads.
About Galaxy
Galaxy Digital Inc. (Nasdaq: 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 develop and operate cutting-edge data center infrastructure to power AI and HPC workloads. Our 1.6 GW Helios campus in Texas positions Galaxy among the largest and fastest-growing data center developers in North America. The Company is headquartered in New York City, with offices across North America, Europe, the Middle East, and Asia. Additional information about Galaxy's businesses and products is available on www.galaxy.com.
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SOURCE Galaxy Digital Inc.