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    Galaxy Digital Raises $460M to Build Texas AI Data Center
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    Galaxy Digital Secures $460 Million for Texas AI Data Center Development

    wsjcryptoBy Nessun commento2 Mins Read

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    Mike Novogratz’s Galaxy Digital has acquired a $460 million private funding from one of the globe’s “largest asset management firms” to expedite the conversion of its previous Bitcoin mining location in Texas into an AI data center.

    The agreement encompasses the acquisition of 12.77 million Class A shares at $36 each, with the funds allocated for general corporate purposes and the growth of its Helios campus, anticipated to yield 133 megawatts of IT capacity by early 2026, the firm declared on Friday.

    “Having one of the globe’s largest and most advanced institutional investors make such a considerable investment in our enterprise will bolster our strategic vision and our capacity to establish leading businesses across digital assets and data centers,” Novogratz remarked.

    The deal is forecasted to finalize around Oct. 17, 2025, subject to approval from the Toronto Stock Exchange.

    Galaxy shares finished Friday down by 6%. Source: Google Finance

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

    Galaxy secures $1.4 billion loan for Helios expansion

    The recent investment follows Galaxy’s $1.4 billion loan facility attained in August to finance approximately 80% of the Helios construction. Through a 15-year arrangement with CoreWeave, an AI cloud infrastructure provider, Galaxy will deliver computing power for AI and high-performance computing tasks beginning in 2026.

    The company anticipates generating over $1 billion in yearly revenue from the collaboration, totaling around $15 billion over the duration.

    At complete construction, the Helios data center will boast a 3.5-gigawatt capacity, positioning it among the largest AI infrastructure initiatives in North America. Of this, CoreWeave has committed to 800 megawatts, while Galaxy aims to lease the remaining 2.7 gigawatts to additional clients.

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

    More crypto companies shift towards AI

    This shift occurs amid a rising trend of crypto-native companies transitioning towards AI infrastructure against a backdrop of record Bitcoin hashrate, which diminishes the likelihood of miners acquiring rewards.