Galaxy Completes Phase I of Its Helios Data Center Campus, Delivering 133 Megawatts of Critical IT Load to CoreWeave
Milestone marks the on-schedule delivery of Phase I and Helios's transition to revenue generating operations, with Phase II development continuing on schedule
NEW YORK, July 6, 2026 /CNW/ - Galaxy Digital Inc. (NASDAQ:GLXY) (the "Company" or "Galaxy"), a global leader in digital assets and data center infrastructure, today announced that it has completed delivery of the first phase of power at its Helios data center campus ("Helios") in West Texas, delivering approximately 200 megawatts ("MW") of gross power — 133 MW of critical IT load — to CoreWeave under the Company's 15-year lease agreement. Phase I was delivered on schedule, with rent commencement under the Phase I lease beginning in the second quarter of 2026.
The completion marks Helios's transition from a large-scale construction project into a revenue-generating, AI-ready data center campus, and reflects Galaxy's ability to develop and deliver hyperscale AI infrastructure from concept through operations.
Greenfield development is underway on the 260 MW of critical IT Phase II build, with civil and structural work advancing and Phase II data hall deliveries expected to commence in the first half of 2027. Across Phases I through III, CoreWeave has committed to 526 MW of critical IT load — the full 800 MW of gross power currently approved and contracted at Helios — under 15-year leases that include two five-year extension options and are expected to generate more than $1 billion in average annual revenue.
"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."
Helios remains a cornerstone of Galaxy's long-term data center strategy. Spanning more than 2,200 acres, the campus's total approved power capacity has expanded to 1.63 gigawatts ("GW"), with the potential to scale to as much as 3.6 GW. As demand for high-density, high-performance computing accelerates, access to reliable, scalable power has become the defining constraint for AI infrastructure, and the additional capacity materially extends Galaxy's development runway, anchoring the Company's mission 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.
About Galaxy
Galaxy Digital Inc. (NASDAQ:GLXY) is a global leader in digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence. Our digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. In addition, we develop and operate cutting-edge data center infrastructure to power AI and HPC workloads. Our 1.6 GW Helios campus in Texas positions Galaxy among the largest and fastest-growing data center developers in North America. The Company is headquartered in New York City, with offices across North America, Europe, the Middle East, and Asia. Additional information about Galaxy's businesses and products is available on www.galaxy.com.
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