Galaxy Digitals, a leading digital asset and data center infrastructure firm, has secured a $1.4 billion project financing facility. This funding will fast-track its Texas crypto AI-based center. The firm confirmed the loan in a blog post on Friday, adding that this funding will fast-track its Texas crypto AI-based center. Galaxy Digitals added that the debt facility will fully fund the initial retrofit and expansion of Helios. This will also deliver the first phase of power for AI and high-performance computing (HPC) operations under a long-term agreement with CoreWeave Inc.
More details Galaxy Digitals deal
It’s worth noting that in the first phase of the project, the loan will cover about 80% of the construction costs, with Galaxy Digitals contributing $350 million in equity. The loan’s secured by assets tied to the first phase of Helios buildout, a Galaxy Digitals subsidiary. In addition, it’s expected to mature on Aug. 15, 2028, which is 36months from now.
Meanwhile, the financing comes right after a big development at the Helios datacenter campus. In August, Galaxy finalized a lease agreement with CoreWeave for the second phase of its Helios data center development. Under this deal, CoreWeave gets an access to an extra 260 MW of critical IT load for its AI and HPC operations, with terms similar to the first phase lease signed earlier this year. Recently, CoreWeave exercised its final option with the Galaxy to access an additional 133 MW of critical IT load for its AI and HPC operations.
With these new deals, CoreWeave has now committed to the full 800 MW of approved power capacity at the Helios datacenter campus. Galaxy Digitals expects over $1 billion in annual revenue from the CoreWeave deal, which spans 15years. If things go as planned, the company’ll also rack up around $15 billion in total revenue from the contract.
Galaxy Digitals founder and CEO Mike Novogratz commented on the development. Mike said this financing marks a major milestone in turning Helios into a next-gen AI and HPC datacenter campus. The CEO also added that Galaxy is on track and ready to deliver first-phase power to CoreWeave starting early 2026.
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