Overview
- Galaxy completed Phase I delivery and began rent in the second quarter of 2026 by handing roughly 200 MW of gross power to CoreWeave, equal to 133 MW of critical IT load under a 15‑year lease.
- CoreWeave has signed to take 526 MW of critical IT capacity across Phases I–III, which covers the campus’s currently contracted 800 MW of gross power and supports Galaxy’s projection of more than $1 billion in average annual revenue.
- Greenfield work for Phase II is under way to add 260 MW of critical IT capacity with civil and structural progress reported and data hall deliveries expected in the first half of 2027.
- The Helios buildout is financed by a reported $1.4 billion project facility plus about $350 million of Galaxy capital, and the campus now spans over 2,200 acres with 1.63 GW of approved power and potential to scale to 3.6 GW.
- The project shows a broader industry shift from large crypto‑mining sites to AI and HPC data centers, a move that can stabilize revenue and bring local construction and operations jobs while leaving Galaxy exposed to standard construction, regulatory and utilization risks.