Galaxy Completes Helios Phase I, Delivering 133MW to CoreWeave

Key Facts

In a move reflecting the accelerating demand for cloud computing and AI infrastructure, Galaxy Digital announced a strategic milestone in its flagship project. According to reports, the company completed the delivery of Phase I of its Helios data center in West Texas, providing 133 MW of critical IT load to CoreWeave. This delivery marks the site's transition from development to revenue-generating operations, with rent commencement officially beginning in the second quarter of 2026 under a 15-year long-term lease agreement.

This expansion comes at a time when AI-specialized data center firms are seeing robust growth; CoreWeave recently secured multi-billion dollar credit facilities to fund its global expansion, enhancing the reliability of the contract with Galaxy. Compared to sector peers, this partnership highlights Galaxy's ability to pivot former mining assets into high-performance data centers, a trend also observed in companies like Applied Digital which announced similar contracts earlier this year per market data.

Regarding market performance, CRWV shares stood at $81.75 (at close July 02, 2026), having traded between a day low of $80.56 and a high of $88.17. Investors are monitoring the company's ability to maintain the timeline for subsequent phases of the Helios project to ensure stable cash flows, especially as markets await macroeconomic data that could impact financing costs within the technology sector.