Galaxy Digital Inc., a global player in digital assets and data center infrastructure, has marked a major milestone by completing the first phase of its Helios data center campus in West Texas. The delivery, made under a 15-year lease agreement with cloud computing company CoreWeave, brings approximately 200 megawatts of gross power—equivalent to 133 megawatts of critical IT load—into revenue-generating operations. The phase was completed on schedule, with rent commencing in the second quarter of 2026.
The completion of Phase I signals Helios’s transition from a large-scale construction project into a fully operational, AI-ready data center campus. Galaxy has positioned itself as a developer capable of taking hyperscale AI infrastructure from concept through to live operations, a capability that is increasingly critical as demand for high-density computing power surges. The campus spans more than 2,200 acres and has total approved power capacity of 1.63 gigawatts, with the potential to scale up to 3.6 gigawatts.
Greenfield development for Phase II is already underway, targeting an additional 260 megawatts of critical IT load. Civil and structural work is progressing, with deliveries for Phase II data halls expected to begin in the first half of 2027. Across all three phases, CoreWeave has committed to a total of 526 megawatts of critical IT load—representing the full 800 megawatts of gross power currently approved and contracted at Helios. The 15-year leases include two five-year extension options and are projected to generate more than $1 billion in average annual revenue for Galaxy.
“Completing Phase I on budget and on schedule affirms Galaxy’s position as an operator capable of executing hyperscale AI data center development,” said Mike Novogratz, Founder and CEO of Galaxy. “Helios is now generating revenue across its entire 133 MW of IT load, and greenfield work on Phase II is already underway. The demand for high-density, AI-ready power is not a cycle; it is a structural shift, and Galaxy is built to meet it.”
The Helios campus remains a cornerstone of Galaxy’s long-term data center strategy. As access to reliable, scalable power becomes the defining constraint for AI infrastructure, the additional capacity at Helios materially extends Galaxy’s development runway. The company aims to build a multi-campus, multi-tenant, multi-gigawatt data center platform designed to power the next generation of AI and high-performance computing workloads.
Source: prnewswire