Galaxy, the NASDAQ-listed digital asset investment company, said on Friday that it has secured $ 1.4 billion in financing to expand its Helios data center in West Texas, part of the company’s push to increase computer capacity for artificial intelligence (AI) and high performance computing (HPC).
The debt facility, which covers 80% of construction costs, runs for 36 months and finances the retrofitting and expansion of the site, the company said in a press release. Galaxy has already contributed $ 350 million in equity.
Shares fell 2.2% in early trade along with the wider withdrawal of the market.
The deal is following a lease with AI Cloud -Provider Coreweave (CRWV)Which has now committed to all 800 megawatts approved power capacity at Helios. The first phase is scheduled to deliver power to Coreweave’s operations in early 2026 under a long -term contract, said founder and CEO Mike Novogratz.
The company expected the Coreweave agreement to bring in more than $ 1 billion in average annual revenue over 15 years.
Galaxy, primarily known for its crypto trading, asset management and venture companies, is expanding its data entre operations as US tech companies are encrypted by power and calculate resources in the midst of increasing the AI competition. Terawulf (Wulf)a former Bitcoin
Mines about HPC rose over 50% on Thursday over the signing of a 10-year-old, $ 3.7 billion AI-hosting contract with Fluidtack and Tech Giant Google, taking an 8% share in the company.
Jefferies said in a July report that two -thirds of Galaxy’s value could come from its data center business.
Read more: Terawulf jumps 22% at $ 3.7 B AI HOSTING DEAL, WHERE Google takes 8% of the shares
