Galaxy Digital Unveils Helios Data Center Campus as $1B AI Power Business

Galaxy Digital has completed the first phase of its Helios data center campus in West Texas, marking a significant milestone for the company. The facility, which was initially built as a bitcoin mining site by Argo Blockchain in 2021, now delivers 133 megawatts of critical IT load to Coreweave under a 15-year lease.

The project's total commitment stands at 526 megawatts across three phases, covering the entire 800 megawatts of gross power approved at the site. Galaxy funded the work with a $1.4 billion project-level debt facility and approximately $350 million in equity.

Mike Novogratz, founder and CEO of Galaxy, stated that the shift toward high-density, AI-ready power is 'structural, not cyclical.' He added that Helios is now generating revenue across its entire 133 MW of IT load, with greenfield work on Phase II already underway.