Mike Novogratz’s Galaxy Digital closes a $ 1.4 billion safe loan term facility to speed up the development of his helios artificial intelligence Datacenter Campus in Texas.
On Friday, the company announced That the loan ranges in about 80% of construction costs for the first phase of the project, with the Galaxy digital contributing $ 350 million to equity. According to In a US Securities and Exchange Commission Filing, the loan is secure of all the Galaxy Helios I ownership, a subsidiary of the Galaxy Digital, and it grows on August 15, 2028.
The capital will be funded by expanding the Helios AI Datacenter to deliver power for AI workloads under a long -term graphics processing unit (GPU) cloud provider Coreweave since early 2026.
The move highlights how digital asset firms use their capital enlargement capabilities and repurpose infrastructure to tap on increasing AI compute demand. This indicates that wider compute and digital assets infrastructures can convert.
Galaxy Digital expects $ 1 billion to annual income from its coreweave deal
Galaxy also announced that AI service provider Coreweave brought a total commitment to a full 800 megawatts of approved capacity on the Helios campus. This means that the coreweave is the lease of power, cooling and physical infrastructure for AI operations and high performance computing (HPC).
Galaxy Digital said it expects an annual income of more than $ 1 billion from the coreweave deal, with a 15-year term. If it goes as planned, the company will get an estimated $ 15 billion in total income from its contract on the coreweave.
The company said it expects the Helios Datacenter to have a power capacity of 3.5 Gawinatts throughout the buildout. Minus dealing with the coreweave, the data center will have an additional 2.7 gawinatts to be given to its clients, which will potentially earn more.
Related: The largest shareholder of the main scientific to vote against the Coreweave purchase offer
Crypto companies dive into AI
Moving Galaxy Digital to AI is part of a broader trend among crypto companies-natives seeking new growth avenues because institutional capital goes to AI.
Coreweave, Originally a crypto mining companyannounced this July 7 Miner core was obtained scientific In a $ 9 billion all-stock transaction to expand data center capacity to support AI and HPC workloads.
Meanwhile, Helios Data Center was also originally obtained for Bitcoin mining initiatives. In 2022 Mike Novogratz said its hirios hiring was made to Increase its exposure to bitcoin mining.
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