THE MINING POD: Inside Galaxy Digital’s $13 Billion CoreWeave AI Deal w/ Brian Wright
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 1 July 2025
⏱️ 45 minutes
🧾️ Download transcript
Summary
Brian Wright from Galaxy Digital joins the pod to talk about Galaxy’s CoreWeave deal, Galaxy Mining’s HPC pivot, the Texas Grid, and more!
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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 $300M 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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Transcript
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| 0:00.0 | Hey, welcome back to the mining pod. On today, we have Brian Wright. He's co-head of mining data centers |
| 0:05.3 | at Galaxy Digital. We're going to dive into their Helios build. Really excited for this conversation. |
| 0:10.9 | We're going to be talking CoreWeave, Galaxy, and anything to do with ERCOT and Data Center |
| 0:15.6 | Market. So stay tuned. Today's show is brought to you by Fractal Bitcoin, but we'll learn more |
| 0:19.8 | about them later in the show. |
| 0:21.2 | For now, let's get right into it. |
| 0:23.6 | I want to take a second and talk about Colorado Air Filter, a new sponsor for the mining |
| 0:27.4 | pod and a major supplier of air filtration systems for Bitcoin mining sites. |
| 0:31.5 | Colorado Air Filter is currently running a summer sale on their inventory from Mervate |
| 0:35.0 | pleats to hepa filters, shipments and installations, |
| 0:38.8 | containers to retrofitted buildings. |
| 0:40.6 | Colorado Air Filter has it all. |
| 0:44.6 | Here's what one recent major miner had to say about working with Colorado Air Filter. |
| 0:48.4 | Working with Keith and Colorado Air Filter has been a seamless experience from day one. |
| 0:51.8 | Their filter media consistently meets the demands of our Bitcoin mining facilities, |
| 0:58.3 | ensuring reliable airflow and equipment protection. Keith is responsive, knowledgeable, and understands the unique operational pressures in our industry. We value both the quality of the product and outstanding service they provide. |
| 1:03.0 | Units are ready to sell. Contact sales at Coloradoairfilter.com using code MiningPod to claim 15% |
| 1:09.2 | off today. Again, that's sales at Coloradoairfilter.com with code MiningPod to claim 15% off today. Again, that's sales at |
| 1:11.1 | Coloradoairfilter.com with code mining pod. Brian, welcome to the show. Thanks for |
| 1:17.7 | join us again. I think you've been on at least one, but we had the Galaxy team on a |
| 1:21.2 | handful of times, obviously. Excited for today's conversation in person. Yeah, no, I'm psyched to be |
| 1:26.3 | here. I mean, I mentioned this coming in, |
... |
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