Galaxy Digital Secures $1.4 Billion Loan to Build 3.5 GW AI Datacenter in Texas

Galaxy Digital has secured a $1.4 billion secured term loan to fast-track the development of its Helios artificial intelligence datacenter in Texas, a move aimed at accelerating its entry into the AI infrastructure market. The funding, which was announced by the company on July 27, covers approximately 80% of the construction costs for the first phase of the project, with Galaxy Digital contributing $350 million in equity as part of the arrangement [1]. The loan is backed by all assets of Galaxy Helios I, a subsidiary of Galaxy Digital, and is scheduled to mature on August 15, 2028 [2].

The Helios datacenter is set to provide power for AI workloads under a long-term agreement with CoreWeave, a GPU cloud provider, beginning in early 2026. CoreWeave has committed to 800 megawatts of capacity at the Helios campus, leasing infrastructure for AI and high-performance computing operations [3]. Galaxy Digital anticipates annual revenue of over $1 billion from this agreement, with a 15-year contract duration that could generate total revenue of $15 billion [4].

The Helios datacenter is expected to reach a total power capacity of 3.5 gigawatts at full buildout. Beyond the CoreWeave agreement, the facility will have an additional 2.7 gigawatts of capacity available for other clients, offering flexibility and potential for future growth [5]. This strategic expansion highlights how digital asset firms are leveraging their capital-raising capabilities and repurposing infrastructure to meet the rising demand for AI compute power.

Galaxy’s move into AI infrastructure aligns with a broader trend among crypto-native firms seeking new revenue streams as institutional capital increasingly flows into AI-driven technologies. Galaxy Digital previously acquired the Helios campus in 2022 for Bitcoin mining, but has now reoriented the facility to focus on AI and HPC workloads [6]. CoreWeave, which also originated as a crypto mining company, recently acquired Core Scientific to expand its datacenter capacity for AI and HPC operations, further illustrating the convergence between digital assets and AI infrastructure.

The structure of the financing—covering 80% of initial costs—suggests a balanced approach to capital allocation, allowing Galaxy to maintain control over part of the project’s financial obligations. This could provide flexibility in managing operational costs and future expansion opportunities. The long-term nature of the CoreWeave agreement also indicates a stable and predictable revenue stream, which is crucial for large-scale infrastructure projects.

The loan underscores Galaxy Digital’s strategic intent to position itself as a key player in the AI infrastructure space. By fast-tracking the development of the Helios datacenter, the firm aims to meet the surging demand for AI processing power driven by advancements in machine learning, natural language processing, and generative AI models. The timing of the loan aligns with broader market trends, as AI becomes more deeply integrated into both enterprise and consumer technologies.

The ability to secure a $1.4 billion loan also reflects the growing credibility of digital infrastructure firms in traditional financial markets. As these companies demonstrate their capacity to generate stable cash flows and support transformative technologies, they are increasingly seen as viable investment opportunities, potentially attracting further capital inflows into the sector and driving continued innovation.

Source: [1] Galaxy Digital Secures $1.4B for Helios AI Datacenter (https://cointelegraph.com/news/galaxy-digital-1-4b-coreweave-ai-datacenter)

[2] Galaxy secures $1.4B loan to fast-track Texas Helios AI datacenter (https://www.tradingview.com/news/cointelegraph:eb59b005a094b:0-galaxy-secures-1-4b-loan-to-fast-track-texas-helios-ai-datacenter/)