Galaxy Digital Inc. (Nasdaq: GLXY) announced on July 6, 2026, that it has completed the first phase of its Helios data center campus in West Texas, delivering approximately 200 megawatts of gross power — 133 megawatts of critical IT load — to CoreWeave under a 15-year lease agreement.

Phase I was delivered on schedule, with rent commencement beginning in the second quarter of 2026. The completion transitions Helios from a construction project into an operational data center campus.

Development of Phase II, comprising 260 megawatts of critical IT load, is underway, with civil and structural work advancing. Phase II data hall deliveries are expected to begin in the first half of 2027.

Across Phases I through III, CoreWeave has committed to 526 megawatts of critical IT load — representing the full 800 megawatts of gross power currently approved and contracted at Helios — under 15-year leases that include two five-year extension options. The leases are expected to generate more than $1 billion in average annual revenue.

"Completing Phase I on budget and on schedule affirms Galaxy's position as an operator capable of executing hyperscale AI data center development," said Mike Novogratz, Founder and CEO of Galaxy.

The Helios campus spans more than 2,200 acres. Its total approved power capacity has expanded to 1.63 gigawatts, with the potential to scale to as much as 3.6 gigawatts, according to the company's press release.