Galaxy Digital, a global leader in digital assets and datacenter infrastructure, closed a $1.4 billion project financing facility ("Debt Facility") to support the continued development of its Helios datacenter campus in West Texas. The Debt Facility will fully fund the initial retrofit and expansion of Helios to deliver the first phase of power for AI and high-performance computing (HPC) operations under a long-term agreement with CoreWeave Inc.

"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 the $350 million equity requirement, with the remaining construction costs to be covered by the Debt Facility. The $1.4 billion Debt Facility, which was secured at 80% loan to cost, has a 36-month term and is secured by all the assets associated with the first phase of Helios's buildout, with key terms disclosed in a concurrent SEC filing and consistent with those discussed during the Company's second quarter earnings call.

The financing follows a string of major developments at the Helios datacenter campus. In August, Galaxy executed the lease agreement with CoreWeave for the second phase of its Helios datacenter development. Under this agreement, CoreWeave will access an additional 260 MW of critical IT load for its AI and HPC operations, structured on terms similar to the first phase lease signed earlier this year. CoreWeave recently exercised its final option with the Company to access an additional 133 MW of critical IT load for its AI and HPC operations.

With these additional agreements, CoreWeave has now committed to the full 800 MW of approved power capacity at the Helios datacenter campus. Galaxy anticipates generating average annual revenue of more than $1 billion over the 15-year term of the agreements with CoreWeave based on committed contractual terms, internal estimates for capital expenditures, and assumes full capacity utilization of critical IT load the Company has agreed to provide.

Galaxy continues to advance its long-term infrastructure plan at Helios, with the goal of building one of the largest AI datacenter campuses in the world. The Company has 2.7 GW of additional power capacity under various stages of load study. At full buildout, the Helios datacenter campus has the potential to support up to 3.5 GW power.

"We're executing with focus and discipline to transform Helios into one of the largest and most advanced AI datacenter campuses in the world," said Mr. Novogratz. "That scale is only possible because of the strategy and groundwork we've put in place and the momentum our team is building every day."