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By Krisztian Sandor, AI Boost|Edited by Aoyon Ashraf
Aug 15, 2025, 1:43 p.m.
- Galaxy has secured $1.4 billion in funding to expand its Helios data center in West Texas, aiming to boost AI and HPC capabilities.
- The financing covers 80% of construction costs and follows a long-term lease agreement with CoreWeave for 800 megawatts of power capacity.
- Galaxy’s data center expansion is part of a broader trend as tech firms seek more power and computing resources amid growing AI competition.
Galaxy, the Nasdaq-listed digital asset investment firm, said on Friday it has secured $1.4 billion in funding to expand its Helios data center in West Texas, part of the firm’s push to boost computing capacity for artificial intelligence (AI) and high-performance computing (HPC).
The debt facility, which covers 80% of construction costs, runs for 36 months and will fund the retrofit and expansion of the site, the firm said in a press release. Galaxy has already contributed $350 million in equity.
STORY CONTINUES BELOW
Shares fell 2.2% in early trading, along with the broader market pullback.
The deal follows a lease agreement with AI cloud provider CoreWeave (CRWV), which has now committed to all 800 megawatts of approved power capacity at Helios. The first phase is scheduled to deliver power to CoreWeave’s operations in early 2026 under a long-term contract, founder and CEO Mike Novogratz said.
The firm projected the CoreWeave deal could bring in more than $1 billion in average annual revenue over 15 years.
Galaxy, known primarily for its crypto trading, asset management and venture businesses, is expanding its data center operations as U.S. tech firms scramble for power and compute resources amid increasing AI competition. TeraWulf (WULF), a former bitcoin
miner that pivoted to HPC, soared over 50% on Thursday onsigning a 10-year, $3.7 billionAI hosting contract with Fluidstack and tech giant Google, taking an 8% stake in the firm.
Jefferies said in a July report that two thirds of Galaxy’s value could stem from its data center business.
Read more: TeraWulf Jumps 22% on $3.7B AI Hosting Deal, With Google Taking 8% Stake
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Krisztian Sandor is a U.S. markets reporter focusing on stablecoins, tokenization, real-world assets. He graduated from New York University’s business and economic reporting program before joining CoinDesk. He holds BTC, SOL and ETH.
“AI Boost” indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk’s AI Policy.
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By Oliver Knight|Edited by Stephen Alpher
23 minutes ago
Three high-profile exploiters have taken advantage of ether’s rally to liquidate stolen funds, pocketing tens of millions in extra profits.
What to know:
- Ethereum’s rally to $4,780 has significantly increased the value of stolen assets from three major exploits, enabling attackers to cash out tens of millions in additional gains.
- The Radiant Capital hacker gained $48.3 million over the initial $53 million theft, the Infini attacker added $25.15 million to their $49.5 million haul, and an unidentified hacker made $9.76 million by liquidating their stash this week.
- These cases underscore a brutal 18 month stretch for crypto security, with $3.1 billion lost to hackers in the first half of 2025 and $1.49 billion stolen in 2024.
