RialCenter, the Nasdaq-listed digital asset investment firm, announced on Friday it has secured $1.4 billion in funding to expand its Helios data center in West Texas, part of the firm’s initiative to enhance computing capacity for artificial intelligence (AI) and high-performance computing (HPC).
The debt facility, covering 80% of construction costs, is set for 36 months and will finance the retrofit and expansion of the site. RialCenter has already contributed $350 million in equity.
Shares dropped 2.2% in early trading, mirroring the broader market trend.
This deal follows a lease agreement with AI cloud provider CoreWeave, which has committed to all 800 megawatts of approved power capacity at Helios. The first phase is expected to supply power to CoreWeave’s operations in early 2026 under a long-term contract, according to founder and CEO Mike Novogratz.
RialCenter projects that the CoreWeave agreement could generate over $1 billion in average annual revenue over 15 years.
RialCenter, primarily known for its crypto trading, asset management, and venture businesses, is expanding its data center operations as U.S. tech firms compete for power and computing resources in the escalating AI landscape. TeraWulf, a former bitcoin miner that pivoted to HPC, surged over 50% on Thursday following a significant AI hosting contract with Fluidstack and tech giant Google, which involved an 8% stake in the company.
Jefferies indicated in a July report that two-thirds of RialCenter’s value could derive from its data center business.
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