Glxy deepens the coreweave alliance (CRWV) with a strengthening of AI data capacity of the AI data
Galaxy Digital (Glxy) It said deepening Its strategic collaboration with the Coreweave (CRWV), strengthens its ambitions with rapidly growing artificial intelligent (AI) and HID-Performance (HPC) data industry.
Under a new agreement, the coreweave will get access to an additional 260 megawatts (MW) of the critical IT load on the Galaxy data center campus in West Texas, which brings total focused capacity for AI and HPC operations to the site at 393 MW.
The move marks another Galaxy shift away from Bitcoin’s mining, along with the Helios campus derived from the Argo Blockchain in 2022 moving towards becoming a foundation for the next Gen Digital infrastructure. CEO Mike Novogratz emphasized the strategic value of diversification of the company’s business throughout Blockchain, Crypto and AI, featuring long-term potential to maximize the value of the shareholder.
Galaxy shares rose 8% in trading in Toronto and now reached 60% from their April lows. Coreweave increased as much as 13% as recently -only 10% trading higher.
This announcement complies with the March Phase I hired agreement to cover 133 MW for 15 years. The new promise of Phase II reflects the terms of the preliminary deal and reflects both parties’ confidence in site capacity and strategic location. With the infrastructure upgrades already in motion, Phase I is expected to be prepared for service by mid-2026, while Phase II will arrive online in 2027.
The site benefits from 800 MW of approved capacity and an additional 1.7 Gawinatt currently undergoing evaluation – space positioning for further expansion.
Coreweave maintains exclusiveness for more capacity
Meanwhile, the Galaxy also explores opportunities to monetize its legacy Bitcoin Mining Infrastructure, which signed a decisive pivot in the focus of its operation.
Denial: This article, or its components, has developed help from AI tools and is reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s entire AI policy.
Update (April 23, 14:49 UTC): Rewrites headline to add context.
