A significant transformation is underway in Dickens County, Texas, where a previously prominent cryptocurrency mining facility is shifting its focus toward becoming a high-performance data center. This strategic pivot is marked by a new long-term lease agreement with CoreWeave, a specialized artificial intelligence infrastructure provider backed by industry leader Nvidia.
The Evolution from Crypto Mining to AI Infrastructure
The facility, originally known as Helios, was launched in 2022 by Argo Blockchain with the goal of generating substantial cryptocurrency returns. Initial projections estimated a production of 25 Bitcoin per day and nearly a million dollars in revenue. However, within just seven months of operation, the site was sold to Canadian firm Galaxy Digital Holdings for $65 million.
Galaxy Digital honored previous community commitments, including funding the restoration of Spur's historic swimming pool in 2024. Now, the company is taking a major step forward by repurposing the Helios facility through a 15-year lease with CoreWeave.
CoreWeave’s Role in AI and High-Performance Computing
CoreWeave specializes in providing advanced computing infrastructure essential for artificial intelligence applications and high-performance computing (HPC) operations. Under the new agreement, the Dickens County facility will supply 133 megawatts of IT capacity to host CoreWeave’s graphics processing units (GPUs). The total power usage will reach approximately 200 megawatts.
A Galaxy spokesperson emphasized the long-term vision: “The intent is to completely shift the Helios data center campus from supporting bitcoin mining operations to AI and HPC data center infrastructure. We see these technologies converging—where decentralized networks, AI, and high-performance computing will create entirely new economic and technological paradigms.”
Facility Upgrades and Infrastructure Improvements
To support this transition, the Helios facility is undergoing significant upgrades. These enhancements include improved fiber connectivity and the installation of specialized optical networking equipment to meet higher bandwidth and lower latency requirements. Certain sections of the existing 126,000-square-foot data center are also being selectively demolished to make way for new infrastructure.
When the facility first launched, local officials were optimistic about its economic impact. Dickens County Judge Kevin Brendle highlighted expectations of millions in tax revenue over five years, benefiting local schools and county budgets. He noted that the operation would bring better jobs with benefits, insurance, and retirement plans to the community.
Economic Impact and Future Expansion
The partnership is projected to generate approximately $4.5 billion in total revenue for Galaxy. CoreWeave also holds exclusivity for accessing an additional 400 megawatts of IT load, potentially bringing the total power capacity at Helios to 600 megawatts.
With 800 megawatts of approved capacity and another 1.7 gigawatts in various stages of development, Galaxy aims to position the Panhandle-Plains region as a leading hub for AI and high-performance computing data centers.
Galaxy remains committed to supporting the local community, stating, “This announcement further commits Galaxy to long-term growth in Dickens and surrounding counties and enables us to continue to create jobs and improve infrastructure across the region.”
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Frequently Asked Questions
What was the original purpose of the Helios facility?
Helios was initially built as a cryptocurrency mining operation aimed at producing Bitcoin and generating significant daily revenue. It was sold to Galaxy Digital within months of its launch.
How will the facility support AI and high-performance computing?
The site will host advanced graphics processing units (GPUs) supplied by CoreWeave, delivering substantial computing power necessary for AI training, model inference, and complex computational tasks.
What benefits will this bring to Dickens County?
The transition is expected to create skilled jobs, improve local infrastructure, and generate long-term tax revenue for schools and public services. Galaxy has also committed to ongoing community support.
Will the facility continue any cryptocurrency operations?
No. The long-term plan is to fully transition from Bitcoin mining to AI and high-performance computing infrastructure, aligning with broader technological and economic trends.
How does CoreWeave’s partnership with Nvidia influence this project?
As a company backed by Nvidia, CoreWeave has access to cutting-edge GPU technology and expertise, ensuring that the data center operates with industry-leading hardware and efficiency.
What is the expected timeline for the transition?
While specific dates weren’t provided, the 15-year lease indicates a long-term commitment. Facility upgrades are already underway to meet the new technical requirements.