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Galaxy Helios

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Former Argo Blockchain bitcoin mine → CoreWeave AI campus
Under construction

The flagship bitcoin-to-AI conversion: Argo's failed Dickens County mine, bought by Galaxy for ~$65M in 2022, is becoming a CoreWeave campus worth ~$1B a year in rent, with the largest single-site ERCOT load approval ever granted.

1.6 GWPlanned power
Developer
Galaxy Digital (NASDAQ: GLXY)
Owner
Galaxy Digital
Tenant
CoreWeave: sole tenant, 15-yr triple-net leases on the full 800 MW (~$1B+ avg annual revenue to Galaxy; ~$11B total); $3.5B Phase 2 deal formally locked in Jul 2026
Power detail
1.6+ GW LLIS-complete, ERCOT-approved and utility-contracted (AEP/WETT); CoreWeave committed to the full original 800 MW; campus runway to ~3.5 GW
Power source
ERCOT grid (largest single-site allocation approved in the queue); triple-net structure passes power-price risk to CoreWeave
Cooling
Liquid-cooled high-density retrofit for Nvidia GPU clusters
Compute
CoreWeave Nvidia GPU fleet for AI training
Construction start
2025 (Phase 1 retrofit); Phase 2 permits filed Mar 2026
Est. completion
First 133 MW tranche H1 2026; phased delivery of 800 MW to CoreWeave thereafter
Grid strategy
ERCOT grid
County
Dickens
Nearest city
Afton / Spur (County Rd 112, ~4 mi NW of Afton; ~1 hr from Lubbock)
Announced
2026-01-15