Galaxy Digital makes a strategic pivot from cryptocurrency operations to artificial intelligence infrastructure with a massive $460 million investment. This funding breakthrough positions the Mike Novogratz-led company at the forefront of the computing power revolution. The capital injection will accelerate transformation of their Texas Bitcoin mining facility into a cutting-edge AI data center.
Galaxy Digital Secures Major Institutional Backing
Galaxy Digital announced a landmark $460 million private investment from one of the world’s largest asset managers. The transaction involves purchasing approximately 12.78 million shares at $36 per share. This includes over 9 million shares directly from the company and 3.75 million shares from senior executives. The investment strengthens Galaxy Digital’s financial position significantly. It also validates their strategic vision for digital assets and data infrastructure.
Helios Data Center Expansion Plans
The Helios facility in West Texas represents Galaxy Digital’s ambitious transformation project. The former Bitcoin mining site will become a major AI and high-performance computing hub. Key development milestones include:
- 133 megawatts of computing capacity by first half of 2026
- Full 800 megawatts allocated through CoreWeave partnership
- Expected completion around October 17, 2025
- Toronto Stock Exchange approval pending
Galaxy Digital plans to use the proceeds for general corporate purposes and accelerating Helios development.
Strategic Partnership with CoreWeave
Galaxy Digital established a crucial partnership with CoreWeave Inc. for the Helios project. This collaboration ensures full utilization of the facility’s 800 megawatt capacity. The 15-year agreement promises substantial revenue generation. Galaxy Digital expects average annual revenue exceeding $1 billion throughout the partnership duration. This long-term commitment provides financial stability for the massive infrastructure project.
Previous Financing and Development Timeline
The $460 million investment follows a $1.4 billion loan facility arranged in August. This comprehensive financing approach covers the full cost of initial upgrades and expansion. The combined funding enables Galaxy Digital to execute their transition strategy effectively. Mike Novogratz emphasized the disciplined approach to developing Helios into one of the world’s largest AI data center facilities. The team’s careful planning and consistent execution drive the project forward.
Industry Shift from Crypto to AI Infrastructure
Galaxy Digital’s transformation reflects a broader industry trend. Crypto-native companies increasingly redirect infrastructure toward artificial intelligence. This strategic pivot addresses accelerating demand for computing power. The move positions Galaxy Digital competitively in the evolving technology landscape. Their expertise in large-scale operations provides advantages in the data center market.
Frequently Asked Questions
What is Galaxy Digital’s main focus with this investment?
Galaxy Digital primarily focuses on transforming their Texas Bitcoin mining facility into an AI and high-performance computing data center. The $460 million investment accelerates this strategic shift.
How much computing capacity will the Helios facility provide?
The Helios data center is expected to deliver 133 megawatts of computing capacity in the first half of 2026, with full allocation of 800 megawatts through the CoreWeave partnership.
What is the timeline for project completion?
The investment completion is anticipated around October 17, 2025, following standard closing procedures and Toronto Stock Exchange approval.
How does this fit with Galaxy Digital’s previous financing?
This investment complements the $1.4 billion loan facility arranged in August, providing comprehensive funding for the Helios project development and expansion.
What revenue does Galaxy Digital expect from this project?
The company projects average annual revenue exceeding $1 billion over the 15-year duration of their partnership with CoreWeave.
Why is Galaxy Digital shifting from crypto to AI infrastructure?
The move responds to increasing demand for computing power and represents a strategic pivot that leverages their existing infrastructure expertise in a growing market.
