Episode notes
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Welcome back to The Mining Pod! Today, Brian Wright, co-head of mining data centers at Galaxy Digital joins us to talk about their massive pivot from bitcoin mining to HPC at the Helios facility. We dive into the company’s CoreWeave partnership, scaling from 200MW to a potential 2.5GW, Texas grid dynamics, and transforming rural Dickens County's economy through data center development.
**Notes:**
• 393MW Core Weave deal worth $900M annually
• $11-13M per MW retrofit costs vs bitcoin mining
• 2.5GW potential campus capacity planned
• 800MW currently approved by Ercot
• 80% loan-to-cost financing structure
• 15-year guaranteed lease agreement signed
Timestamps:
00:00 Start
01:48 Core Scientific & Coreweave
03:45 Potential Coreweave acquisitions
05:29 Helios pivot to AI
11:52 Site conversion plans
13:29 What's unique about Helios?
15:51 Fractal Bitcoin
17:35 AI accelerating building?
18:39 Financing
20:26 AI vs mining
22:26 Who pays for retrofit?
25:57 Transition
28:04 Tenants
29:25 Dickens County
31:55 Employee incomes & training
35:01 Politics
36:19 Texas bill SB6
37:15 Interconnect queue
38:26 Fiber line infrastructure
40:02 Can other miners pivot to AI?
41:52 Ending curtailment due to AI
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