BlockBeats news, on August 15, according to official news, Galaxy Digital Inc. (Nasdaq: GLXY) announced that it has completed $1.4 billion in project financing to support the ongoing construction of its Helios data center campus in West Texas. This financing will fully cover the initial renovation and expansion work of Helios, providing the first phase of power supply for artificial intelligence (AI) and high-performance computing (HPC) operations, which will be delivered through a long-term agreement with CoreWeave Inc.
Galaxy has invested $350 million to meet equity requirements, and the remaining construction costs will be covered by debt financing. The $1.4 billion debt financing has a loan-to-cost ratio of 80%, a term of 36 months, and is secured by all assets related to the first phase of Helios construction.