LUBBOCK, Texas (KCBD) – Dickens County is looking forward to a new chapter in its economy, with a major change coming to the large Bitcoin mining facility there.
The owner recently announced a new partnership to transform the crypto-mining facility into an artificial intelligence data center.
In late 2022, the ownership of the facility north of Dickens changed, after a tumble in cryptocurrency value. Galaxy Digital Holdings bought the Helios facility from Argo Blockchain for $65 million.
On its fourth quarter earnings call at the end of March, Galaxy announced a 15-year lease agreement with CoreWeave, an AI cloud-computing firm backed by Nvidia.
Under the agreement, Galaxy will deliver 133 megawatts of critical IT load to host CoreWeave’s AI and high-performance computing (HPC) infrastructure at the Helios campus. Galaxy expects that work to generate about $4.5 billion over the next 15 years.
President Christopher Ferraro calls this a strategic expansion to meet the increasing demand for highly reliable power and infrastructure to support accelerated AI growth in the U.S.
Under peak conditions, he expects the facility to use about 200 megawatts of gross power capacity. He says Galaxy has ERCOT approval for an additional 600 megawatts at the Dickens facility. He says that remaining capacity remains under option with CoreWeave, which he expects to eventually be contracted.
CEO Michael Novogratz calls this deal a “giant and great first step,” in what he believes will be building out one of the country’s largest AI data centers.
Ferraro says Galaxy is already in the process of demolishing some of the data center “shell,” and will begin unplugging mining machines soon.
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