The capital will primarily finance the development of the Helios campus in Dickens County, with Morgan Stanley and Goldman Sachs leading the transaction. According to reports, the offering consists of five-year notes issued by a Galaxy subsidiary. Under the proposed terms, debt repayment is scheduled to begin 10 months after construction concludes, at a rate of 4% of the original principal annually. This issuance mirrors a broader industry trend, as developers have raised approximately $28 billion in high-yield debt this year to construct AI-focused data centers.
Galaxy’s expansion is underpinned by 15-year lease agreements with CoreWeave, which the company expects to generate over $1 billion in annual revenue once fully operational. The Helios site currently holds regulatory approval for up to 1.6 gigawatts of power. While Galaxy continues to build out its digital asset and institutional financial services, the Texas project stands as a cornerstone of its pivot toward high-performance computing. This infrastructure push is complemented by local outreach, including a 15-year naming rights deal for Texas Tech University’s football stadium, which designates Galaxy as the institution's official partner for data center and AI initiatives.
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