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    Galaxy Digital Secures $460M for Texas AI Data Center Development

    Ethan CarterBy No Comments2 Mins Read
    1760179962

    Galaxy Digital, led by Mike Novogratz, has secured a $460 million private investment from one of the world’s largest asset managers to transform its former Bitcoin mining site in Texas into an AI data center.

    The agreement includes the acquisition of 12.77 million Class A shares priced at $36 each, with funds allocated for general corporate purposes and the expansion of its Helios campus, projected to provide 133 megawatts of IT capacity by early 2026, as the company announced on Friday.

    “Having one of the world’s largest and most sophisticated institutional investors make such a significant investment in our company will bolster our strategic vision and enhance our capacity to build leading businesses across digital assets and data centers,” Novogratz stated.

    The transaction is anticipated to close around Oct. 17, 2025, subject to the approval of the Toronto Stock Exchange.

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    Galaxy stock concluded Friday down by 6%. Source: Google Finance

    Related: ‘Uptober’ starts with US shutdown, Brazil wants Bitcoin miners: Global Express

    Galaxy secures $1.4 billion loan to fuel Helios expansion

    This new investment follows Galaxy’s $1.4 billion loan facility obtained in August to finance approximately 80% of the Helios construction. Under a 15-year contract with CoreWeave, an AI cloud infrastructure provider, Galaxy is set to deliver compute power for AI and high-performance computing workloads starting in 2026.

    It is projected that the partnership will generate over $1 billion in annual revenue, amounting to roughly $15 billion throughout the contract term.

    Upon full development, the Helios data center will boast a 3.5-gigawatt capacity, making it one of the largest AI infrastructure projects in North America. CoreWeave has pledged 800 megawatts, while Galaxy intends to lease the additional 2.7 gigawatts to further clients.

    Related: 93% of Bitcoin Is Mined. What Happens at the 21 Million Cap?

    More crypto firms shifting focus to AI

    This transition aligns with a rising trend of crypto-native companies pivoting to AI infrastructure in response to record Bitcoin hashrate, which diminishes miner profitability.