Galaxy Digital Closes $1.4bn Debt Facility

Galaxy Digital Holdings Ltd. has closed a $1.4 billion project financing facility for the development of its Helios data center campus in Texas which was previously used by Galaxy for cryptomining, before being converted to host AI cloud provider CoreWeave.

"This financing marks a major milestone in our transformation of Helios into a next-generation AI and HPC datacenter campus," said Mike Novogratz, founder and CEO of Galaxy.

"We're on track and excited to deliver the first phase of power to CoreWeave beginning in early 2026. This project is a key step in diversifying Galaxy's business model as we expand beyond crypto and into the broader AI infrastructure space."

Galaxy has provided $350 million in equity, and the remaining construction costs will be covered by the debt facility, which has a 36-month term and is secured by the assets associated with the first phase of Helios' buildout.