07:44 AM EDT, 08/15/2025 (MT Newswires) -- Galaxy Digital ( GLXY ) on Friday said it has closed a US$1.4 billion project financing facility to support the development of its Helios datacenter campus in West Texas.

The facility will fund the initial retrofit and expansion of Helios to deliver the first phase of power for AI and high-performance computing (HPC) operations under an agreement with CoreWeave.

"This financing marks a major milestone in our transformation of Helios into a next-generation AI and HPC datacenter campus," said Chief Executive Mike Novogratz. "We're on track and excited to deliver the first phase of power to CoreWeave beginning in early 2026. This project is a key step in diversifying Galaxy's business model as we expand beyond crypto and into the broader AI infrastructure space."

Galaxy has provided the US$350 million equity requirement, with the remaining construction costs to be covered by the debt facility. The facility, which was secured at 80% loan to cost, has a 36-month term and is secured by all the assets associated with the first phase of Helios's buildout.

The company's shares are up US$0.28, to US$28.85, in U.S. pre-market trade.