Someone help, what is this

does this mean i have an additional TB of storage i never knew about? i have files i need to download but as you can see my local disk is full , can i add them to the new volume thing? if it matters the file is 60 gb

does this mean i have an additional TB of storage i never knew about? i have files i need to download but as you can see my local disk is full , can i add them to the new volume thing? if it matters the file is 60 gb