Galaxy Digital delivers first data center tranche to CoreWeave after narrowing Q1 loss
Galaxy secured approval to double its Helios data center power capacity to over 1.6GW, building on its strategic expansion into AI infrastructure.
What to know:
- Galaxy Digital’s first-quarter net loss narrowed to $216 million as it looked to steadier revenue-generating businesses.
- After the quarter, the company handed its first data-center hall to CoreWeave.
- It also secured approval to double the Helios data center power capacity to over 1.6GW, signifying a major strategic expansion into AI infrastructure.
The company is increasingly focusing on the growing demand for data centers, and this month delivered its first data hall at the Helios campus in Texas to CoreWeave (CRWV), marking the start of revenue under a long-term lease tied to artificial intelligence workloads.
“Adjusted gross profit remained broadly stable, reflecting a shift in the business mix as recurring fee revenue and transaction income continue to scale and provide greater resilience in softer market conditions,” the company said in a statement. “Disciplined expense management during the quarter helped narrow the adjusted EBITDA loss, underscoring a focus on operating efficiency in more challenging environments.”
The Helios facility is set to deliver 133 megawatts of computing power by the end of the second quarter. The company also secured approval for an additional 830 megawatts of power at the site, bringing total capacity to more than 1.6 gigawatts.
