Galaxy Digital (GLXY) said that he had deepened his strategic partnership with Coreweave (CRWV), strengthening his ambitions in the intelligence of artificial intelligence (AI) and the rapidly growing computer data center (HPC).
Under a new agreement, Coreweave will have access to 260 megawatts (MW) of critical IT load on the Galaxy’s Helios Data Center campus in western Texas, bearing the total committed capacity for AI and HPC operations on the site at 393 MW.
This decision marks another quarter of work from Galaxy from Bitcoin extraction, with the Helios campus acquired by Argo Blockchain in 2022 to become a cornerstone for the digital new generation infrastructure. The CEO Mike Novogratz highlighted the strategic value of the diversification of business activities through blockchain, crypto and AI, highlighting the long -term potential to maximize the value of shareholders.
Galaxy shares have increased by 8% in Toronto trade and now have an increase of 60% compared to their low April. Coreweave increased up to 13% that what was recently negotiated 10%.
This announcement follows the phase I rental agreement of March which covered 133 MW over 15 years. The new phase II commitment reflects the terms of the initial agreement and reflects the confidence of the two parties in the capacity and the strategic location of the site. The infrastructure upgrades already in motion, phase I should be ready for the service by mid-2026, while phase II will be published online in 2027.
The site benefits from 800 MW of approved capacity and an additional 1.7 Gigawatts during evaluation – Galaxy positioning for a new expansion.
Coreweave retains exclusivity for even more capacity
Meanwhile, Galaxy also explores opportunities to monetize his inherited Bitcoin extraction infrastructure, signaling a decisive pivot in its operational objective.
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Update (April 23, 2:49 PM UTC): Rewrite the title to add context.
