Why did Galaxy Digital convert its Helios site into an AI data centre?

Galaxy Digital converted the Helios site from Bitcoin mining to AI infrastructure to serve demand for high-density computing. The company said the shift supports long-term contracted revenue through a 15-year agreement with CoreWeave.

How large is CoreWeave's commitment at Galaxy Digital's Helios campus?

CoreWeave has committed to 526 megawatts of critical IT capacity at Galaxy Digital's Helios campus under a 15-year lease. Galaxy said the project is expected to generate more than US$1 billion in average annual revenue once fully operational.

What are Galaxy Digital's expansion plans for Helios?

Galaxy Digital is building Phase II with an additional 260 megawatts of IT capacity scheduled for delivery in the first half of 2027. The company said the Helios campus could eventually expand to 3.6 gigawatts, subject to further grid approvals.

Why are Bitcoin mining sites being converted into AI data centres?

Companies including Galaxy Digital are repurposing former Bitcoin mining sites because they already have access to power infrastructure and land suitable for large data centres. Long-term AI infrastructure leases can also provide more predictable revenue than cryptocurrency mining.

Image for illustrative purposes only. Not a real photo.

Galaxy delivers 133MW at Helios AI campus

Q: How did Galaxy Digital fund the Helios redevelopment?

Galaxy Digital funded the redevelopment with a US$1.4 billion project-level debt facility, about US$350 million in equity and a separate US$460 million capital raise from an external asset manager in late 2025.

Written by Mahathir BayenaPublished Jul 8, 2026, 3:27 AM

Galaxy Digital completed the first phase of its Helios AI data centre, delivering 133 megawatts of IT capacity to CoreWeave.
CoreWeave has committed to 526 megawatts under a 15-year lease that Galaxy said is expected to generate more than US$1 billion in average annual revenue once fully operational.
The project marks Galaxy's expansion from Bitcoin mining infrastructure into AI data centre services.

Galaxy Digital completed the first phase of its Helios data centre in Texas, delivering 133 megawatts of critical IT capacity to CoreWeave as part of a 15-year infrastructure agreement.

CoreWeave has committed to 526 megawatts across the first three phases of the Helios campus, with Galaxy stating the fully operational project is expected to generate more than US$1 billion in average annual revenue.

“Helios is now generating revenue across its entire 133 MW of IT load, and greenfield work on Phase II is already underway,” said Galaxy founder and chief executive Mike Novogratz.

Galaxy acquired the Helios site from Argo Blockchain in late 2022 for about US$65 million, replacing Bitcoin mining equipment with AI-ready power systems, fibre infrastructure and data centre facilities funded through a US$1.4 billion debt facility, about US$350 million in equity and a separate US$460 million capital raise.

Phase II is under construction with 260 megawatts of additional IT capacity expected in the first half of 2027, while following the announcement Galaxy shares were not immediately reported to have moved.

The redevelopment reflects a broader trend of former Bitcoin mining sites being converted into AI infrastructure as operators seek more stable long-term revenue from hyperscale computing customers instead of cryptocurrency mining.

Galaxy has expanded the Helios campus to more than 2,200 acres with 1.63 gigawatts of approved power capacity and said the site could eventually scale to 3.6 gigawatts, while about 830 megawatts of approved capacity remains available for future tenants.