Galaxy Digital priced $3.507 billion in senior secured notes to finance Phase II of the Helios data-center campus in Texas, linked to CoreWeave. The 9.875% interest rate generates approximately $346.3 million in annual cash costs, payable every February 1 and August 1 starting in 2027. Phase II data-hall deliveries are expected to begin in the first half of 2027, with CoreWeave committed to approximately 260 MW of incremental critical IT capacity. Principal repayment, set at 4% of original principal annually or roughly $140.28 million, will only begin after construction completion. Creditors hold first-priority claims on nearly all project assets until maturity on August 1, 2031.
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