The $346M Price Tag Behind Galaxy Digital’s Texas AI Pivot

Galaxy Digital has secured $3.5 billion to fund its latest data center project for CoreWeave in Texas. While the move signals a major expansion into AI infrastructure, it comes with a significant financial burden. The project is backed by senior secured notes that require $346.3 million in annual interest payments starting in 2027.

The financing covers two large buildings at the Helios campus, designed to support 400 megawatts of utility capacity. Galaxy has committed to a strict schedule for these data halls. With interest payments looming, the company is under pressure to finish construction on time, as principal repayments are tied directly to the completion of the project.

This deal highlights a broader trend where major players in the digital asset space are shifting capital toward AI. Because creditors hold priority claims on the specific assets involved in the project, the risk is contained to the subsidiary rather than the entire firm. Investors are watching closely to see if Galaxy can hit its 2027 delivery targets for the remaining data halls.