Galaxy Digital (GLXY) said it has deepened its strategic partnership with CoreWeave (CRWV) to strengthen its ambitions for the fast-growing AI (AI) and high-performance computing (HPC) data center industry.
Under the new agreement, CoreWeave will access an additional 260 megawatts (MW) of critical IT load at the Galaxy’s Helios Data Center campus in western Texas, bringing the total capacity of AI and HPC operations at the site to 393 MW.
The move marks another shift by Galaxy away from Bitcoin mining, which was acquired by Helio Campus from the Argo Blockchain in 2022 and became the cornerstone of the next generation of digital infrastructure. CEO Mike Novogratz highlighted the strategic value of diversifying the company’s business across blockchain, Crypto and AI, highlighting the long-term potential of maximizing shareholder value.
Galaxy shares rose 8% in Toronto trading, up 60% from its April low. CoreWeave has been trading 10% higher recently, which has risen 13%.
The announcement follows a phase lease agreement in March, covering 133 MW over 15 years. The new Phase II commitment reflects the terms of the initial transaction and reflects the parties’ trust in the site’s capabilities and strategic position. With infrastructure upgrades already in motion, Phase I is expected to be serviced by mid-2026, and Phase II will be online in 2027.
The site benefits from 800 MW of approval capabilities and an additional 1.7 gigawatts currently being evaluated.
CoreWeave retains exclusiveness for even more capacity
Meanwhile, Galaxy is also exploring opportunities to monetize its legacy Bitcoin mining infrastructure, showing a critical pivot in its operational focus.
Disclaimer: This article, or in part, was generated with the support of AI tools and reviewed by our editorial team to ensure accuracy and compliance with the standards. For more information, see Coindesk’s complete AI policy.
