Galaxy raises $1.4B for Texas Helios AI datacenter

Galaxy Digital secures $1.4B loan to accelerate its Texas Helios AI datacenter with CoreWeave, aiming for over $1B annual revenue from a 15-year deal.

Galaxy Digital secures funding for Helios project

Mike Novogratz’s Galaxy Digital has secured a $1.4 billion term loan to build its Texas-based Helios artificial intelligence datacenter. The loan will cover 80% of the costs for phase one, while Galaxy contributes $350 million in equity.

According to filings with the SEC, the loan is secured by all assets of Galaxy Helios I and matures in August 2028.

CoreWeave partnership and projected revenue

Helios will provide compute power for AI workloads under a long-term contract with GPU cloud provider CoreWeave, starting in early 2026.

Galaxy Digital expects over $1 billion in annual revenue from this deal. The 15-year agreement could generate nearly $15 billion in total revenue.

CoreWeave has now committed to 800 megawatts of approved capacity at the Helios campus. This allows the company to scale its AI and high-performance computing (HPC) services.

At full buildout, the Helios datacenter will reach 3.5 gigawatts of power capacity. Excluding CoreWeave’s share, 2.7 gigawatts will remain available for other clients.

Crypto firms pivot to AI

Galaxy Digital’s move is part of a broader shift of crypto-native firms into artificial intelligence as institutional capital flows into AI.

CoreWeave itself started as a crypto mining company and recently acquired Core Scientific in a $9 billion all-stock deal to expand its datacenter resources.

Interestingly, Galaxy Digital originally bought the Helios campus in 2022 to boost Bitcoin mining exposure, but it has now turned into a cornerstone AI infrastructure project.