Husch Blackwell’s energy team assisted Galaxy Digital in reaching financial close of a $1.4 billion project financing facility (“Debt Facility”) to support the continued development of its Helios datacenter campus in West Texas. The Debt Facility will fully fund the initial retrofit and expansion of Helios to deliver the first phase of power for AI and high-performance computing (HPC) operations under a long-term agreement with CoreWeave Inc.
Husch Blackwell served as local counsel to Galaxy, advising on the regulatory structure for the provision of energy to the data center campus as well as with the real estate structure for the phased development of the campus and shared use of certain campus facilities.
The financing follows a string of major developments at the Helios datacenter campus. In August, Galaxy executed the lease agreement with CoreWeave for the second phase of its Helios datacenter development. Under this agreement, CoreWeave will access an additional 260 MW of critical IT load for its AI and HPC operations, structured on terms similar to the first phase lease signed earlier this year. CoreWeave recently exercised its final option with the Company to access an additional 133 MW of critical IT load for its AI and HPC operations.
With these additional agreements, CoreWeave has now committed to the full 800 MW of approved power capacity at the Helios datacenter campus. Galaxy continues to advance its long-term infrastructure plan at Helios, with the goal of building one of the largest AI datacenter campuses in the world. The Company has 2.7 GW of additional power capacity under various stages of load study. At full buildout, the Helios datacenter campus has the potential to support up to 3.5 GW power.
The Husch Blackwell team was led by partner Carrie Collier-Brown and senior counsel Jeff Vercauteren and also included attorneys Alaina Zermeno, Sean Jain, Holly Heinrich, Mohamad Fattouh, Sarah Milocco, and Brittney Beetcher.
For further information, please refer to the August 15, 2025, Galaxy news release.