Galaxy Digital Completes Phase I of Helios Data Center, Delivers 133 MW to CoreWeave

Galaxy Digital Inc. (Nasdaq: GLXY) announced today that it has completed the initial power delivery phase at its Helios data center campus in West Texas. The company has successfully provided approximately 200 megawatts (MW) of gross power, which translates to 133 MW of critical IT load, to cloud provider CoreWeave (NASDAQ: CRWV). This delivery fulfills the first segment of a 15-year lease agreement between the two firms.

Operational Transition and Revenue Generation

The completion of Phase I signifies the transition of the Helios facility from a large-scale construction site into an active, revenue-generating campus configured for artificial intelligence workloads. Galaxy confirmed that the project was delivered on schedule. Rent commencement under the Phase I lease initiated during the second quarter of 2026.

Mike Novogratz, Founder and CEO of Galaxy, noted that the on-budget and on-time completion of this phase demonstrates the company's operational capability in executing hyperscale data center development.

Phase II Development and Total Capacity Commitments

Concurrent with the activation of Phase I, greenfield construction is advancing on the second phase of the Helios project. Key details regarding the expansion and lease agreements include:

Phase II Timeline: Civil and structural work is currently underway for a 260 MW critical IT build, with data hall deliveries anticipated to begin in the first half of 2027.

CoreWeave's Total Commitment: Across the first three phases of development, CoreWeave has committed to 526 MW of critical IT load.

Contracted Power: This 526 MW commitment accounts for the entirety of the 800 MW of gross power currently approved and contracted at the Helios site.

Financial Projections: The 15-year lease agreements, which feature two five-year extension options, are projected to generate over $1 billion in average annual revenue for Galaxy.

Long-Term Site Scaling

The Helios campus covers more than 2,200 acres and serves as a foundational asset in Galaxy's broader infrastructure strategy. Recently, the total approved power capacity for the West Texas site was expanded to 1.63 gigawatts (GW). Galaxy indicated that the campus possesses the physical and electrical footprint to potentially scale up to 3.6 GW over time, providing significant runway to support high-density computing requirements.