CoreWeave (CRWV.US) signs 15-year AI computing lease agreement with Galaxy Digital

The Zhitong Finance App learned that blockchain and digital asset company Galaxy Digital (BRPHF.US) announced on Friday that it has reached a 15-year lease agreement with AI hyperscale provider Coreweave (CRWV.US).

Galaxy will provide 133 megawatts of critical IT load, utilize 200 megawatts of total power capacity to host Coreweave's AI and high-performance computing infrastructure at the Helios data center campus in West Texas. Under the contract, Galaxy is entitled to generate approximately $4.5 billion in revenue.

Galaxy Digital Holdings today released financial results for the fourth quarter and full year of 2024. Despite being affected by a legal settlement with the New York Attorney General, the company's net revenue for the fourth quarter of 2024 reached $174 million, and net revenue for the full year was $365 million. The company's Q4 revenue was US$698.9 million, up 96.4% year over year. Despite ongoing fluctuations in the cryptocurrency market, where Bitcoin recently fell below $80,000 and Ether fell below $2,000, Galaxy Digital continued to achieve significant financial growth.

Currently, Galaxy Digital is being reorganized as a Delaware registered entity and plans to list on the NASDAQ, subject to regulatory approval.

Additionally, CoreWeave set its initial public offering price of $40, lower than earlier estimates, by selling 37.5 million shares and raising $1.5 billion. Driven by increased derivatives activity and institutional demand, Galaxy Digital's trading and consulting services have also experienced significant growth.