Galaxy Digital closes $1.4-billion debt facility

Mr. Mike Novogratz reports GALAXY CLOSES $1.4 BILLION PROJECT FINANCING FACILITY TO ACCELERATE HELIOS AI DATACENTER DEVELOPMENT Galaxy Digital Inc. has closed a $1.4-billion project financing facility to support the continued development of its Helios data centre 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 (artificial intelligence) and high performance computing (HPC) operations under a long-term agreement with CoreWeave Inc. "This financing marks a major milestone in our transformation of Helios into a next-generation AI and HPC data centre campus," said Mike Novogratz, founder and chief executive officer of Galaxy. "We're on track and excited to deliver the first phase of power to CoreWeave beginning in early 2026. This project is a key step in diversifying Galaxy's business model as we expand beyond crypto and into the broader AI infrastructure space." Galaxy has provided the $350-million equity requirement, with the remaining construction costs to be covered by the debt facility. The $1.4-billion debt facility, which was secured at 80 per cent loan to cost, has a 36-month term and is secured by all the assets associated with the first phase of Helios's buildout, with key terms disclosed in a concurrent SEC filing and consistent with those discussed during the company's second quarter earnings call. The financing follows a string of major developments at the Helios data centre campus. In August, Galaxy executed the lease agreement with CoreWeave for the second phase of its Helios data centre development. Under this agreement, CoreWeave will access an additional 260 megawatts of critical IT (information technology) 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 megawatts of critical IT load for its AI and HPC operations. With these additional agreements, CoreWeave has now committed to the full 800 megawatts of approved power capacity at the Helios data centre campus. Galaxy anticipates generating average annual revenue of more than $1-billion over the 15-year term of the agreements with CoreWeave based on committed contractual terms, internal estimates for capital expenditures and assumes full capacity utilization of critical IT load the company has agreed to provide. Galaxy continues to advance its long-term infrastructure plan at Helios, with the goal of building one of the largest AI data centre campuses in the world. The company has 2.7 gigawatts of additional power capacity under various stages of load study. At full buildout, the Helios data centre campus has the potential to support up to 3.5 gigawatts. "We're executing with focus and discipline to transform Helios into one of the largest and most advanced AI data centre campuses in the world," said Mr. Novogratz. "That scale is only possible because of the strategy and groundwork we've put in place, and the momentum our team is building every day." About Galaxy Digital Inc. Galaxy is a global leader in digital assets and data centre infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence. The company's digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody and tokenization technology. In addition, the company invests in and operates cutting-edge data centre infrastructure to power AI and high performance computing, meeting the growing demand for scalable energy and compute solutions in the United States. The company is headquartered in New York, with offices across North America, Europe, the Middle East and Asia. We seek Safe Harbor.