Novogratz Pushes Galaxy Past Bitcoin Mining Into $1B AI Power Business
The post Novogratz Pushes Galaxy Past Bitcoin Mining Into $1B AI Power Business appeared on BitcoinEthereumNews.com. Key Takeaways Galaxy delivered 133 MW to Coreweave at Helios on July 6, 2026, formalizing a $1B revenue path. Coreweave has committed to 526 MW across Helios Phases I-III under a 15-year lease. Galaxy targets 3.6 GW of capacity at Helios, with Phase II data halls arriving in 2027. The site sits in Dickens County, about 60 miles from Lubbock. It started as a bitcoin mining facility built by Argo Blockchain in 2021. Galaxy bought it in late 2022 for roughly $65 million after Argo ran into financial trouble during the crypto winter. Bitcoin mining margins tightened after the April 2024 halving. Power costs rose, difficulty climbed, and artificial intelligence (AI) companies started paying more for the same electricity miners had relied on. Galaxy read the shift and moved. Coreweave signed on as anchor tenant in March 2025 under a 15-year lease. The company exercised two mor