Photo: Kristendawn
The former Bitcoin mining site now delivers 133 MW to CoreWeave, with 260 MW more on the way and $3.5 billion in new financing to fund it
Galaxy Digital’s Helios campus in Dickens County, West Texas, has officially gone live as an AI and high-performance computing facility, with Phase I now operational and Phase II construction already underway. The expansion will add 260 MW of critical IT load capacity, with data halls expected to open in the first half of 2027.
The Helios campus, originally developed by Argo Blockchain in 2022, has been fully retrofitted to serve AI workloads. Galaxy Digital acquired the infrastructure and converted what was a purpose-built energy facility from cryptocurrency mining to AI compute.
From pickaxes to GPUs #
Phase I of the Helios campus became operational in the second quarter of 2026, delivering approximately 133 MW of critical IT load to its anchor tenant, CoreWeave. The facility draws on roughly 200 MW of gross power, with the difference between gross and critical load going to cooling, networking, and other infrastructure overhead.
CoreWeave locked in a 15-year lease for the space, with rental payments that began in Q2 2026.
The campus itself sprawls across 1,500 to 2,200 acres of West Texas land. The site carries ERCOT-approved capacity exceeding 1.6 GW. CoreWeave’s total commitment across multiple phases brings the projected critical IT load to 526 MW.
Billions in financing to back the buildout #
Galaxy Digital closed a $1.4 billion project financing facility in August 2025 to accelerate Helios development. In July 2026, Galaxy filed a planned offering of approximately $3.5 billion in senior secured notes to fund ongoing Phase II construction and future expansion.
Galaxy Digital projects over $1 billion in average annual revenue across its commitments at the Helios campus.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our