Mining farm transitions to AI data center, $1 billion lease over 15 years, this track switch is quite smooth.

Galaxy Digital has completed the first phase of power delivery at the Helios campus in West Texas, USA, delivering 133 megawatts (MW) of critical IT load to the AI cloud computing company CoreWeave. Helios was originally one of North America’s large-scale Bitcoin mining sites. After Galaxy acquired it in 2022, it gradually transformed it into an AI and high-performance computing data center. Under a 15-year lease, CoreWeave has committed to using 526MW of critical IT load across three phases at Helios, which is expected to bring Galaxy more than $1 billion in average annual revenue. (The Block)