Galaxy Announces Commitment With Coreweave To Host Additional Artificial Intelligence And High-performance Computing Infrastructure At Helios Data Center Campus
Galaxy Digital Holdings Ltd. TSX: GLXY today announced that CoreWeave Inc. has exercised its first option to access additional critical IT load for CoreWeaves artificial intelligence AI and high-performance computing HPC operations at Galaxys Helios data center campus in the panhandle region of West Texas , pursuant to terms substantially similar to those outlined in the 15-year, 133 megawatt MW lease agreement previously announced on March 28, 2025 the Phase I agreement.
Under the Phase II option agreement, Galaxy has agreed to deliver approximately 260 MW of incremental critical IT load 1 to host CoreWeaves AI and HPC operations at its Helios data center campus. This incremental capacity would be structured under similar economic terms as the Phase I Agreement and would increase CoreWeaves total contracted capacity for AI and HPC operations at the Helios data center campus to approximately 393 MW of critical IT load 2 .
This Phase II commitment with CoreWeave marks another major step in Galaxys evolution as a trusted partner for the next generation of data center infrastructure, said Mike Novogratz , Founder and CEO of Galaxy. New and advanced digital infrastructure is already rapidly reshaping industries and opening new opportunities. Diversifying our business across blockchain, crypto and AI allows us to maximize cash flow and deliver greater value to shareholders. CoreWeave has been a fantastic partner throughout this process.
Site modifications to support the Helios data center campuss transition from bitcoin mining operations to hosting AI and HPC infrastructure are already underway. Galaxy expects Phase I of its agreement with CoreWeave to be ready for service in the first half of 2026. Critical IT load under Phase II is expected to be delivered throughout 2027. In addition, CoreWeave retains exclusivity to enter into a further agreement to access up to an additional 133 MW of critical IT load at the Helios data center campus in order to utilize all of Galaxys currently approved capacity for AI and HPC data center development and services.
Galaxy acquired the Helios data center campus in Dickens County, Texas , in December 2022 from Argo Blockchain PLC. In addition to the 800 MW of gross power capacity that is already approved at the current Helios project substation, Galaxy has an incremental 1.7 gigawatts of power capacity currently under various stages of load study, allowing the company to expand its power capacity to support additional AI and HPC data center infrastructure development.