Galaxy Digital Inc. (GLXY) has closed a massive $1.4 billion project financing facility to accelerate the transformation of its Helios datacenter campus in West Texas into a next-generation hub for AI and high-performance computing.

The funding will fully cover the retrofit and expansion needed to deliver the first phase of power under a long-term agreement with CoreWeave Inc. (CRWV), with operations set to begin in early 2026. Galaxy has already committed $350 million in equity, with the remaining construction costs covered by the 80% loan-to-cost debt facility, secured over a 36-month term.

August also saw Galaxy and CoreWeave sign a second-phase lease agreement, adding 260 MW of capacity for AI and HPC workloads, on top of 133 MW added earlier. With these deals, CoreWeave has committed to the full 800 MW of approved power at Helios. Galaxy projects over $1 billion in average annual revenue from the 15-year agreements, assuming full capacity utilization.

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