Overview
- Galaxy completed Phase I of its Helios data center in West Texas and delivered about 200 MW of gross power, including 133 MW of critical IT load to CoreWeave, with rent under the Phase I lease commencing in the second quarter of 2026.
- CoreWeave occupies the delivered capacity under a 15-year lease and has committed to 526 MW of critical IT load across Phases I–III under agreements that include two five-year extension options.
- Greenfield construction for Phase II is underway to add 260 MW of critical IT capacity, with data hall deliveries expected in the first half of 2027 and ongoing civil and structural work on site.
- Galaxy has secured project financing and regulatory clearances that expand Helios’s approved power to about 1.63 GW and give the campus a development runway that the company says could scale to roughly 3.6 GW, though the company warns execution and utilization risks remain.
- The project repurposes the former Argo Blockchain mining site bought in December 2022 and could reshape local power use and jobs by shifting from crypto mining to high-density AI compute while generating the company’s projected data-center revenue stream.