Galaxy Digital secures $3.507 billion financing for Helios data center campus in West Texas

Type: Financing · Technology: Data Center · Country: United States · Capacity: 400 MW · Value: $3.51B · Announced: 2026-08-14

Galaxy Digital priced $3.507 billion of senior secured notes to finance two buildings at its Helios data center campus in West Texas, covering eight data halls, 400 MW of utility capacity, and 260 MW of critical IT capacity. The financing supports the conversion of the former bitcoin mining facility into a high-availability AI data center campus, with CoreWeave as the anchor tenant committing to 800 MW of gross power capacity (526 MW critical IT load) across three development phases. Phase I delivered 200 MW of gross power and 133 MW of critical IT load to CoreWeave under a 15-year lease, while Galaxy is in discussions with additional tenants for the remaining 830 MW of approved capacity. The campus operates under ERCOT’s Large Load Interconnection Service (LLIS) process with 1.63 GW of completed capacity under utility contract. Galaxy’s strategy emphasizes securing reliable power infrastructure over headline 'bragawatts', with Helios redesigned for concurrent maintainability and Tier IV-like availability standards to meet AI workload demands.

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