Galaxy Digital has completed the first phase of power delivery at its Helios data center campus in West Texas, transferring 133 megawatts to CoreWeave under a 15-year lease agreement. This marks a significant milestone for the site, which was once one of North America's largest bitcoin mines before being repurposed for artificial intelligence and high-performance computing workloads.
The Helios campus spans over 2,200 acres, with an approved power capacity of 1.63 gigawatts and potential to scale to 3.6 GW. Galaxy acquired the site from Argo Blockchain for $65 million in 2022 and has begun to transform it into a hub for AI infrastructure.
CoreWeave's commitment to 526 MW across three phases is expected to generate projected annual revenues exceeding $1 billion, according to the company. The firm will pay rent starting in Q2 2026, marking a significant revenue stream for Galaxy Digital.