Galaxy Digital has announced a significant investment decision to convert its existing crypto facility in Texas into a modern AI data center.
Strategic Shift of Galaxy Digital
Galaxy Digital announced the acquisition of $1.4 billion for the reorientation of its Helios crypto facility in Texas to create a modern AI data center. This move reflects changing market needs and the company's desire to adapt to the high demand for computing power in the field of artificial intelligence. The transition from crypto operations to AI allows Galaxy Digital to optimize its infrastructure and diversify its business model.
Partnership with CoreWeave
A key aspect of the transformation is the long-term partnership with CoreWeave, a cloud service provider. Galaxy Digital has signed a 15-year exclusive lease agreement with CoreWeave, which will be the main user of the new AI data center. This collaboration represents not only a lease but also a shared vision for advancing artificial intelligence infrastructure.
Financing of $1.4 Billion
The acquisition of $1.4 billion in debt financing plays a crucial role in implementing the project. The funds will be used to retrofit the existing crypto facility into a fully functional AI center, complying with the terms of the agreement with CoreWeave. Debt financing allows Galaxy Digital to retain ownership while securing necessary capital investments.
Galaxy Digital's shift to AI infrastructure represents an important strategic step, allowing the company to firmly position itself in the high-tech market and achieve a stable revenue stream through its collaboration with CoreWeave.
