Galaxy Digital · Data Center · U.S. · The Block
Galaxy delivers 133 MW of critical IT load to CoreWeave as Helios bitcoin mine turns AI hub
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Galaxy Digital (GLXY) has completed the first phase of power delivery at its Helios data center campus in West Texas, handing CoreWeave (CRWV) 133 megawatts of critical IT load under a 15-year lease and marking the site's transition from bitcoin mining to revenue-generating AI infrastructure.
Key facts
- Helios began as one of North America's largest bitcoin mines, an 180 MW facility that Galaxy bought from Argo Blockchain for $65 million in 2022, before winding down mining and retrofitting the site
- Galaxy Digital (GLXY) has completed the first phase of power delivery at its Helios data center campus in West Texas, handing CoreWeave (CRWV) 133 megawatts of critical IT load under a 15-year lease
- The campus spans more than 2,200 acres, with total approved power capacity now at 1.63 gigawatts and the potential to scale to 3.6 GW
- Greenfield construction is underway on 260 MW of critical IT for Phase II, with data hall deliveries expected to begin in the first half of 2027
Summary
The delivery covered roughly 200 MW of gross power on schedule, with rent commencing under the Phase the reporter lease in the second quarter of 2026, Galaxy said Monday. Helios began as one of North America's largest bitcoin mines, an 180 MW facility that Galaxy bought from Argo Blockchain for $65 million in 2022, before winding down mining and retrofitting the site for AI and high-performance computing workloads. The trade has become a defining one across the mining sector, as operators with cheap, contracted electricity reposition idle or marginal capacity toward AI tenants paying steadier revenue than block rewards.