Key Takeaways
- • Galaxy Digital's Helios campus in Dickens County, Texas, has been converted from a bitcoin mining facility into a fully operational AI-ready campus with 133 MW of critical IT capacity, according to Mike Novogratz, Galaxy's founder and chief executive.
- • Galaxy completed Phase I at Helios and delivered the 133 MW to CoreWeave under a 15-year lease, per publisher reporting.
- • At full buildout, Helios is planned to reach 3.5 gigawatts, positioning it among the largest AI infrastructure projects in the sector.
- • Galaxy Digital raised $460 million to fund the Helios transformation, according to the publisher's coverage.
- • Novogratz said further growth is planned at the site, indicating the conversion is not yet complete.
Summary
Mike Novogratz, Galaxy Digital's founder and chief executive, visited the company's Helios campus in West Texas and highlighted its transformation over the past three years. Helios, located in Dickens County, Texas, was a bitcoin mining facility three years ago. It is now a fully operational AI-ready campus with 133 megawatts (MW) of critical IT capacity. Novogratz wrote that the site is "a fully operational AI-ready campus, and we're just getting ready," signaling that further expansion is underway.
Galaxy Digital purchased the site in 2022 when it was a distressed bitcoin mining operation. According to publisher reporting, the company has since converted it into a hyperscale AI and high-performance computing campus. Galaxy completed Phase I of the conversion and delivered the first 133 MW of critical IT load to CoreWeave under a 15-year lease. The arrangement marks the shift of the former mine into revenue-generating AI infrastructure.
The scale of the project extends well beyond Phase I. At full buildout, the Helios data center is planned to reach 3.5 gigawatts of capacity, which would place it among the largest AI infrastructure projects in the market. Galaxy Digital raised $460 million to finance the transformation, according to publisher coverage. The project illustrates a broader pattern in which bitcoin mining sites with existing power access are being repurposed for AI and high-performance computing workloads, a conversion that depends on secured power capacity and long-term tenant contracts.
Galaxy Digital purchased the site in 2022 when it was a distressed bitcoin mining operation. According to publisher reporting, the company has since converted it into a hyperscale AI and high-performance computing campus. Galaxy completed Phase I of the conversion and delivered the first 133 MW of critical IT load to CoreWeave under a 15-year lease. The arrangement marks the shift of the former mine into revenue-generating AI infrastructure.
The scale of the project extends well beyond Phase I. At full buildout, the Helios data center is planned to reach 3.5 gigawatts of capacity, which would place it among the largest AI infrastructure projects in the market. Galaxy Digital raised $460 million to finance the transformation, according to publisher coverage. The project illustrates a broader pattern in which bitcoin mining sites with existing power access are being repurposed for AI and high-performance computing workloads, a conversion that depends on secured power capacity and long-term tenant contracts.
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