Galaxy Digital Inc. announced the closing of a $1.4 billion project financing facility to advance its Helios datacenter campus in West Texas, transforming it into a leading AI and high-performance computing (HPC) hub. This landmark deal, coupled with a long-term lease agreement with CoreWeave, positions Galaxy to meet the growing demand for AI infrastructure.
Galaxy Digital Inc. (Nasdaq: GLXY, TSX: GLXY) closed a $1.4 billion Debt Facility to support the retrofit and expansion of its Helios datacenter in West Texas, as announced on August 15, 2025. The facility, comprising $350 million in equity from Galaxy and $1.05 billion in debt at an 80% loan-to-cost ratio, will fund the first phase of power delivery for AI and HPC operations starting in early 2026. This move marks a strategic pivot from Galaxy’s crypto roots to a diversified focus on AI infrastructure, leveraging its existing datacenter assets acquired from Argo Blockchain in 2022 for $65 million.
The financing supports a long-term agreement with CoreWeave Inc., which has committed to the full 800 MW of approved power capacity at Helios. This includes a second-phase lease for an additional 260 MW and an exercised option for 133 MW, ensuring comprehensive utilization of the campus’s initial capacity. Galaxy projects over $1 billion in average annual revenue over the 15-year contract, potentially totaling $15 billion, based on full capacity utilization and internal capital expenditure estimates. This partnership with CoreWeave, a leading AI cloud provider, underscores Galaxy’s alignment with the surging demand for AI compute power.
Galaxy aims to transform Helios into one of the world’s largest AI datacenter campuses, with a potential capacity of 3.5 GW at full buildout. An additional 2.7 GW of power capacity is under load study, supporting future expansion. The campus, located in Dickens County, Texas, benefits from the state’s deregulated energy market and access to low-cost renewable energy, enhancing cost efficiency and sustainability. The use of liquid cooling further positions Helios as a leader in environmentally conscious AI infrastructure.
The financing, secured by all first-phase Helios assets, has a 36-month term and aligns with terms disclosed in Galaxy’s Q2 2025 earnings call. Despite the announcement, Galaxy’s stock (GLXY) fell 8.68% on August 15, trading at $24.227 USD, with a market cap of $4.5 billion, as shown in the finance card above. This decline followed a high trading volume of $280 million, ranking 372nd in market activity. The project’s debt service coverage ratio of 1.40 ensures financial stability, reflecting lender confidence in its long-term viability.
Galaxy’s pivot to AI infrastructure reflects a broader trend among crypto-native firms repurposing assets for AI and HPC workloads, driven by a projected 35.9% CAGR in the AI infrastructure market through 2030. By leveraging existing infrastructure and securing large-scale financing, Galaxy mitigates crypto market volatility while capitalizing on stable, long-term revenue streams. This strategic shift positions Galaxy as a key player in the convergence of digital assets and AI infrastructure, delivering scalable, sustainable solutions for the future.
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 U.S. The company is headquartered in New York City, with offices across North America, Europe, the Middle East and Asia.
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