Galaxy Digital has completed a $1.4 billion project financing to accelerate the development of the Helios AI data center.

BlockBeats News, August 15th, according to official sources, Galaxy Digital Inc. (Nasdaq: GLXY) announced that it has completed a $1.4 billion project financing to support the ongoing development of its Helios data center campus in western Texas. This financing will cover the initial renovation and expansion work at Helios, providing the first phase of power supply for its Artificial Intelligence (AI) and High-Performance Computing (HPC) business, which will be delivered through a long-term agreement with CoreWeave Inc.

Galaxy has committed $350 million to meet the equity requirements, with the remaining construction costs financed through debt. The $1.4 billion debt financing is 80% loan-to-cost, with a term of 36 months, secured by all assets related to the first-phase construction of Helios.