Company to convert Bitcoin mining facility in Dickens County into AI data center
Dickens County in Texas is on the verge of a significant economic transformation as a large Bitcoin mining facility undergoes a major change. The facility’s owner has recently announced a groundbreaking partnership to convert the crypto-mining establishment into an artificial intelligence data center, marking a new era in the region’s economic landscape.
The ownership of the facility shifted hands in late 2022, following a downturn in cryptocurrency valuation. Galaxy Digital Holdings acquired the Helios facility from Argo Blockchain for $65 million, setting the stage for the transformative project. During its fourth-quarter earnings call in March, Galaxy revealed a 15-year lease agreement with CoreWeave, an AI cloud-computing company with Nvidia’s support.
Under this pioneering agreement, Galaxy will provide 133 megawatts of essential IT load to support CoreWeave’s AI and high-performance computing infrastructure at the Helios campus. The project is expected to yield approximately $4.5 billion over the next 15 years, signifying a substantial investment in technological innovation and economic development. President Christopher Ferraro emphasized that this strategic expansion aims to address the surging demand for reliable power and infrastructure crucial for driving accelerated AI growth across the United States.
In peak operating conditions, the revamped facility is projected to consume around 200 megawatts of gross power capacity. Galaxy has secured ERCOT approval for an additional 600 megawatts at the Dickens facility, underscoring the scale and ambition of the initiative. The remaining capacity is earmarked for utilization by CoreWeave, a move expected to be formalized in due course. CEO Michael Novogratz hailed the partnership as a pivotal first step towards establishing one of the nation’s largest AI data centers, underscoring the project’s transformative impact.
Excavation work is already underway at the site, with Galaxy actively dismantling elements of the data center infrastructure to pave the way for the implementation of cutting-edge AI technologies. The imminent decommissioning of mining machinery signals the facility’s transition towards hosting sophisticated data processing operations tailored to the demands of the burgeoning AI industry. As the project progresses, Dickens County is poised to emerge as a hub of technological innovation, powering the next phase of growth and development in the region.
The transformation of the Bitcoin mining facility into an AI data center represents a significant milestone in Dickens County’s economic evolution, positioning the region at the forefront of the digital revolution. With a bold vision and strategic partnerships in place, the initiative holds immense promise for driving economic prosperity and technological advancement, underscoring the county’s commitment to embracing innovation and fostering sustainable growth in the rapidly evolving digital landscape.
