Mike Novogratz, Founder and CEO of Galaxy, said about the development:
This financing marks a major milestone in our transformation of Helios into a next-generation AI and HPC data center campus. 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 Digital revealed that the infrastructural plan is to expand Helios into one of the largest and most advanced AI data center campuses in the world. At full buildout, the firm expects the Helios campus to support up to 3.5 GW of power.
With CoreWeave leveraging the Helios data center’s infrastructure for its AI and HPC operations, Galaxy expects an annual return of more than $1 billion over its 15-year agreement term. This puts the digital asset manager’s potential revenue at $15 billion at the end of its contract with CoreWeave.
As of the time of market closing on Friday, the stock of Galaxy Digital Inc. (GLXY) was valued at around $26.09, reflecting an over 8% decline in the past day.
