Galaxy Digital Secures $1.4B Financing for Helios AI Datacenter Expansion.

Galaxy Digital closes a $1.4 billion project financing facility to support the development of its Helios datacenter campus in Texas. The financing will fund the initial retrofit and expansion of Helios to deliver AI and HPC operations under a long-term agreement with CoreWeave. Galaxy has provided the $350 million equity requirement, with the remaining construction costs covered by the Debt Facility.

Galaxy Digital (NASDAQ: GLXY) has successfully closed a $1.4 billion project financing facility to accelerate the development of its Helios AI datacenter campus in West Texas. The financing facility will fund the initial retrofit and expansion of the campus to support AI and high-performance computing (HPC) operations under a long-term agreement with CoreWeave Inc. [1]

Galaxy Digital has contributed $350 million in equity, with the remaining construction costs to be covered by the Debt Facility. The $1.4 billion Debt Facility was secured at an 80% loan-to-cost ratio and has a 36-month term. 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 [1].

CoreWeave's additional commitments bring the total power capacity under lease to 800 MW. Galaxy Digital projects average annual revenue exceeding $1 billion over the 15-year lease term, assuming full capacity utilization. The first phase of power delivery to CoreWeave is scheduled for early 2026 [1].

The Helios campus has the potential to scale to 3.5 GW power capacity, with 2.7 GW currently under load study. This expansion represents a strategic pivot for Galaxy Digital beyond cryptocurrency into AI infrastructure, positioning Helios as one of the world's largest AI datacenter campuses [1].

This infrastructure play signifies 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 [1].

References:
[1] https://www.stocktitan.net/news/GLXY/galaxy-closes-1-4-billion-project-financing-facility-to-accelerate-m1g6nrtnwvpm.html
[2] https://www.marketscreener.com/news/galaxy-closes-1-4-billion-project-financing-facility-to-accelerate-helios-ai-datacenter-development-ce7c51dedd81f421