Mentioned:
Galaxy Digital has major ambitions for high performance computing. And they’ve just secured a billion dollar financing deal to accelerate them.
What’s happening:
- Galaxy Digital (NASDAQ: GLXY) has secured a $1.4B USD project financing facility to accelerate the development of their Helios data centre located in Texas
By the numbers:
- Galaxy Digital committed $350M USD in capital to the new project financing facility
- The $1.4B USD project financing facility has a 3 year term
- The Helios data centre could potentially have up to 3.5 gigawatts of total power capacity at full scale operations
Why it matters:
- CoreWeave (NASDAQ: CRWV) has expanded their existing deal with Galaxy Digital to utilize the full 800 megawatts of approved power capacity at Helios
Going deeper:
- Galaxy Digital has publicly stated that they anticipate to generate more than $1B USD in total revenue from their deal with CoreWeave over the next decade and a half
The intrigue:
- Deals for high performance computing capacity have been heating up lately on Wall Street, including TeraWulf (NASDAQ: WULF) just recently striking a massive multi billion dollar agreement with United Kingdom based cloud computing company Fluidstack that is backstopped by Google (NASDAQ: GOOG)
