Galaxy Digital Inc. (Nasdaq: GLXY) announced the completion of Phase I of its Helios data center campus in West Texas, delivering approximately 200 megawatts (MW) of gross power — 133 MW of critical IT load — to CoreWeave under a 15-year lease agreement. Phase I was delivered on schedule, with rent commencement beginning in the second quarter of 2026.
Transition to Revenue-Generating Operations
The completion marks Helios's transition from a large-scale construction project into a revenue-generating, AI-ready data center campus. This milestone reflects Galaxy's ability to develop and deliver hyperscale AI infrastructure from concept through operations.
Greenfield development is underway on Phase II, which will add 260 MW of critical IT load. Civil and structural work is advancing, with Phase II data hall deliveries expected to commence in the first half of 2027. Across Phases I through III, CoreWeave has committed to 526 MW of critical IT load — the full 800 MW of gross power currently approved and contracted at Helios — under 15-year leases that include two five-year extension options and are expected to generate more than $1 billion in average annual revenue.
Leadership Commentary
“Completing Phase I on budget and on schedule affirms Galaxy’s position as an operator capable of executing hyperscale AI data center development,” said Mike Novogratz, Founder and CEO of Galaxy. “Helios is now generating revenue across its entire 133 MW of IT load, and greenfield work on Phase II is already underway. The demand for high-density, AI-ready power is not a cycle; it is a structural shift, and Galaxy is built to meet it.”
Long-Term Strategy and Expansion Potential
Helios remains a cornerstone of Galaxy’s long-term data center strategy. Spanning more than 2,200 acres, the campus’s total approved power capacity has expanded to 1.63 gigawatts (GW), with the potential to scale to as much as 3.6 GW. As demand for high-density, high-performance computing accelerates, access to reliable, scalable power has become the defining constraint for AI infrastructure. The additional capacity materially extends Galaxy’s development runway, anchoring the Company’s mission to build a multi-campus, multi-tenant, multi-gigawatt data center platform designed to power the next generation of AI and high-performance computing workloads.
About Galaxy Digital
Galaxy Digital Inc. (Nasdaq: GLXY) is a global leader in digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence. Its digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. The company also develops and operates cutting-edge data center infrastructure to power AI and HPC workloads. The 1.6 GW Helios campus in Texas positions Galaxy among the largest and fastest-growing data center developers in North America. The Company is headquartered in New York City, with offices across North America, Europe, the Middle East, and Asia.
