Galaxy, Nasdaq-list Digital Asset Investment Firm, said on Friday that it has become safe $ 1.4 billion in funding To expand its Helios data center in West Texas, part of firm’s push to promote computing capacity for artificial intelligence (AI) And high performance computing (HPC),
Debt facility, which covers 80% of the construction cost, runs for 36 months and will fund the site retrophit and expansion, the firm said Press releaseGalaxy has already contributed $ 350 million to equity.
With a comprehensive market pullback, the stocks fell 2.2% in early trade.
The deal follows a lease agreement with AI Cloud provider Coreweave (CRWV)Which is now committed to all 800 MW approved power capacity in Helios. The first phase is determined to provide electricity to the operation of the corpus in the beginning of 2026 under a long -term contract, the founder and CEO Mike Novogrates said.
The firm estimated that the coreweave deal could bring more than $ 1 billion in average annual revenue in 15 years.
The Galaxy, known for its crypto trading, asset management and venture businesses, is expanding the operation of its data center, as American tech firms scrambled for electricity and calculated resources amidst an increase in AI competition. Terravulf (Wulf)A former bitcoin
The mining for HPC on Thursday increased by 10 years, floodstack with host of $ 3.7 billion AI and $ 3.7 billion hosting with tech giant Google by more than 50%, taking 8% stake in the firm.
Jefferies said in a July report that two -thirds of Galaxy value may arise from its data center business.
Read more: Terawulf jumps 22% on $ 3.7B AI hosting deal, Google has taken 8% stake
