Galaxy Flips the Switch on AI Future with Helios Data Center Launch

NEW YORK, NY – July 06, 2026 – In the sprawling plains of West Texas, a new engine for the artificial intelligence revolution has just roared to life. Galaxy Digital Inc. (Nasdaq: GLXY) announced today the successful completion of Phase I of its Helios data center campus, a monumental project that has now transitioned from a construction blueprint to a revenue-generating reality. The milestone marks the on-schedule delivery of approximately 133 megawatts (MW) of critical IT load to CoreWeave, a specialized AI cloud provider, under a landmark 15-year lease agreement.

This achievement is more than just a project completion; it's a powerful statement of Galaxy's strategic evolution. The company, known as a leader in digital assets, has now firmly established itself as a key developer of the hyperscale infrastructure required to power the next generation of AI. The Helios campus, once a large-scale construction project, is now a fully operational, AI-ready data center, with rent commencement having begun in the second quarter of 2026.

A New Billion-Dollar Revenue Frontier

The completion of Phase I on budget and on schedule validates Galaxy's capacity to execute complex, large-scale infrastructure projects from concept to operation. For investors and market watchers, the financial implications are profound. The long-term leases with CoreWeave, which include two five-year extension options, are expected to generate more than $1 billion in average annual revenue once all contracted phases are complete, providing Galaxy with a stable, predictable, and substantial income stream for years to come.

"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."

This strategic pivot allows Galaxy to capitalize on the insatiable demand for high-performance computing (HPC) while diversifying its business model. By transforming its assets to serve the AI market, the company is tapping into one of the most significant technological and economic shifts of the modern era, positioning itself as an indispensable partner to the companies building the future of AI.

Powering the AI Juggernaut

The tenant at the heart of this massive deal, CoreWeave, is a specialized cloud provider that has become a critical backbone for the AI industry. Unlike general-purpose cloud giants, CoreWeave focuses exclusively on providing the raw computational power—primarily through vast clusters of high-end NVIDIA GPUs—that AI developers need for training and running complex models. Its client roster reads like a who's who of AI innovation, including contracts with giants like Microsoft and OpenAI.

CoreWeave’s explosive growth, underscored by billions in recent funding and a valuation soaring towards $20 billion, is driven by the sheer processing power its clients require. Building and training large language models (LLMs) and other generative AI systems is an incredibly energy-intensive process. This creates a voracious, and very specific, appetite for data centers that can deliver high-density, reliable power. The Helios campus is purpose-built to meet this exact need, making the partnership a perfect strategic fit. For CoreWeave, securing a long-term home for its power-hungry hardware at a scalable site like Helios is essential for its continued expansion and ability to serve its demanding clientele.

The West Texas Advantage

The decision to build a data center of this magnitude in West Texas is a strategic one, leveraging the unique advantages of the region. Spanning more than 2,200 acres, the Helios campus benefits from Texas's abundance of land and, most critically, its vast energy resources. The state's robust and deregulated energy market, managed by the Electric Reliability Council of Texas (ERCOT), offers access to significant power capacity, including a growing portfolio of wind and solar energy.

This access to scalable power is the single most important factor in developing hyperscale AI infrastructure. As AI models become more complex, the demand for electricity is skyrocketing, creating a global bottleneck. Locations like West Texas, which can provide gigawatt-scale power, are becoming the new epicenters of the digital economy. By securing a foothold here, Galaxy has established a critical competitive advantage, creating a development runway that few others can match.

A Multi-Gigawatt Vision for the Future

Phase I is just the beginning. Greenfield development is already well underway for Phase II of the Helios campus, which will add another 260 MW of critical IT load, with initial deliveries slated for the first half of 2027. Across the first three phases, CoreWeave has committed to a total of 526 MW of critical IT load, utilizing the full 800 MW of gross power currently contracted at the site.

Looking further ahead, the potential is even more staggering. The Helios campus's total approved power capacity has expanded to 1.63 gigawatts (GW), with the potential to scale to an immense 3.6 GW. This massive capacity anchors Galaxy's long-term mission to build a multi-campus, multi-tenant, multi-gigawatt data center platform. As access to power becomes the defining constraint for AI's growth, Galaxy is not just participating in the market; it is actively building the foundation upon which the entire industry will grow.