Galaxy Digital Secures $1.4 Billion Financing Facility for Texas Blockchain Project

Galaxy Digital Holdings, a digital asset and blockchain company, has closed a $1.4 billion financing facility for its West Texas project. The financing will support the development of the company's bitcoin mining operations in the region. Galaxy Digital provides various financial services and investment solutions, including trading, lending, and institutional-grade investment services.

Galaxy Digital Holdings, a digital asset and blockchain company, has closed a $1.4 billion financing facility to support the development of its bitcoin mining operations in West Texas. The debt facility, secured at an 80% loan-to-cost ratio with a 36-month term, will fund the initial retrofit and expansion of the Helios datacenter campus. Galaxy Digital has provided $350 million in equity for the project [1].

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 $1 billion over the 15-year agreement term [2].

Galaxy Digital's strategic pivot beyond cryptocurrency into AI infrastructure is significant. 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 [2].

The expansion of bitcoin mining operations and the development of the Helios datacenter campus represent a substantial diversification of Galaxy's revenue streams and business model. This move reduces its dependence on crypto market volatility while capitalizing on the surging demand for AI computing resources [3].

References:
[1] https://za.investing.com/news/company-news/galaxy-secures-14-billion-for-ai-datacenter-expansion-in-texas-93CH-3842555
[2] https://www.stocktitan.net/news/GLXY/galaxy-closes-1-4-billion-project-financing-facility-to-accelerate-m1g6nrtnwvpm.html
[3] https://www.ainvest.com/news/galaxy-digital-shares-rise-1-31-premarket-expanding-partnership-soluna-bitcoin-mining-operations-2508/