Galaxy Digital expands Helios capacity amid narrower Q1 loss

CoinDesk reports Galaxy Digital narrowed its first-quarter net loss to $216 million, or 49 cents a share, and posted $10.2 billion in revenue compared with $12.9 billion a year earlier. Per CoinDesk, after the quarter Galaxy delivered its first data-center hall at the Helios facility to CoreWeave under a long-term lease tied to AI workloads. CoinDesk reports the Helios site is set to provide 133 megawatts of computing power by the end of the second quarter and that Galaxy secured approval for an additional 830 megawatts, bringing total capacity to more than 1.6 gigawatts.

CoinDesk reports the Helios facility approval covers an extra 830 megawatts of power; the site is planned to reach over 1.6 GW of capacity in aggregate. The article notes the initial delivery to CoreWeave represents the first revenue-bearing data-hall under the Helios program, linked to artificial-intelligence workloads.

Editorial analysis - technical context: Companies building large-scale AI data centers typically prioritize power provisioning, colocations with specialized GPU-hosting partners, and staged handovers to tenants. For practitioners, a facility exceeding 1.6 GW of available power places Helios among the largest greenfield AI data-center projects and influences regional capacity planning and procurement dynamics.

The move comes as parts of Galaxy's business mix shift toward recurring fee revenue and transaction income, a shift the company quantified in a statement quoted by CoinDesk: "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. Editorially, large-scale leasing by specialist cloud GPU providers like CoreWeave signals continued demand from AI model training and inference workloads and shapes competition for scarce power and interconnect in key markets.

Observers should track Helios' staged power enablement and additional tenant commitments, utilization metrics from initial halls, and any regulatory or transmission upgrades tied to the 830-megawatt approval. Industry watchers should also monitor financial disclosures for how Helios revenue is recognized and whether data-hall leases materially affect Galaxy's operating cash flow and recurring revenue profile.