In the vast expanse of the financial landscape, where the sun often sets on grand ambitions and dreams, a peculiar story unfolds. Galaxy Digital, a name once whispered among the circles of digital asset enthusiasts, has secured a loan of no less than $1.4 billion. But, dear reader, this is no ordinary loan; it is a bridge to the future, a transformation from the dusty plains of Bitcoin mining to the glittering halls of artificial intelligence data centers. 🌌💻
Loan Facility To Cover 80% Of Data Center Project
On a Friday, much like any other, but marked by the promise of innovation, August 15, Galaxy Digital announced the closing of a $1.4 billion debt facility. This monumental sum is destined to breathe life into the Helios data center campus, nestled in the heart of West Texas. The funds will not only repurpose the facility but also expand its horizons to power the ambitious AI operations under a long-term agreement with the esteemed GPU provider, CoreWeave Inc. 🚀
The press release, as dry as the Texan desert, noted that Galaxy has already committed $350 million in equity. The generous loan, covering a staggering 80% of the construction costs for the first phase, comes with a 36-month term and is secured by all the assets tied to the initial buildout. A small price to pay for the dawn of a new era, one might say. 🕰️
Mike Novogratz, the visionary founder and CEO of Galaxy, expressed his sentiments with a flourish:
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. 🌟
CoreWeave, a company that began its journey in the tumultuous world of Bitcoin mining, has now signed a lease agreement with Galaxy. This new pact grants CoreWeave access to an additional 260 MW of critical IT load for its AI and high-performance computing (HPC) operations. A testament to the ever-evolving nature of technology and business, indeed. 🔄
Galaxy To Generate $1B Annual Revenue In CoreWeave Agreement
The grand vision for Helios does not stop at mere repurposing. Galaxy Digital plans to expand the campus into one of the largest and most advanced AI data center complexes in the world. At full capacity, the Helios campus is expected to support up to 3.5 GW of power, a feat that would make even the most seasoned tech mogul blink in awe. 💡
With CoreWeave set to leverage the Helios data center’s infrastructure, Galaxy anticipates an annual return of over $1 billion over the 15-year agreement term. This translates to a staggering potential revenue of $15 billion by the end of the contract. Numbers that, in the words of the great Turgenev, could make a poet weep. 📊
However, the market, ever the fickle beast, seemed less impressed. As the trading day closed on Friday, the stock of Galaxy Digital Inc. (GLXY) was valued at around $26.09, a decline of over 8% from the previous day. Yet, as they say, the future belongs to those who believe in the beauty of their dreams. 🌈
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2025-08-16 22:45