Galaxy Digital secures $460M investment to expand Texas AI data center
Mike Novogratz’s Galaxy Digital has announced a $460 million private investment from one of the world’s largest asset managers to fund its transformation from crypto mining to AI infrastructure.
The deal involves the purchase of 12.77 million Class A shares at $36 each, with proceeds dedicated to expanding the company’s Helios campus in Texas, reports Cointelegraph.
Once completed in early 2026, Helios is expected to deliver 133 megawatts of IT capacity, supporting Galaxy’s growing data center and digital asset operations. “Having one of the world’s largest and most sophisticated institutional investors make such a significant investment in our company will support our strategic vision and our ability to build leading businesses across digital assets and data centers,” Novogratz said in the announcement. The transaction is expected to close around October 17, 2025, pending approval from the Toronto Stock Exchange.
$1.4B loan and CoreWeave deal drive Helios expansion
This latest funding follows Galaxy’s $1.4 billion loan facility secured in August, which will finance about 80% of the Helios buildout. Under a 15-year contract with CoreWeave, an AI cloud infrastructure provider, Galaxy will supply compute power for AI and high-performance computing (HPC) workloads beginning in 2026.
The company expects to generate more than $1 billion in annual revenue, or approximately $15 billion over the contract’s duration. When fully built, Helios will feature 3.5 gigawatts of total capacity, making it one of North America’s largest AI infrastructure hubs. CoreWeave has already committed to 800 megawatts, while Galaxy plans to lease the remaining 2.7 gigawatts to additional enterprise clients, including AI, fintech, and research firms.
Crypto firms pivot to AI infrastructure amid mining headwinds
Galaxy’s AI pivot mirrors a broader industry shift among crypto companies seeking new revenue streams as Bitcoin’s record-high hashrate compresses mining profitability. Several major mining firms — including CleanSpark, Hive Digital, and Cipher Mining — have begun redirecting capital toward AI data centers and GPU hosting.
The convergence of crypto and AI infrastructure is emerging as a key growth narrative for 2025, with data demand from generative AI models soaring. For Galaxy, the Helios expansion marks a long-term bet on the intersection of digital assets, computing, and decentralized infrastructure, positioning the company as a bridge between Web3 and AI economies.
Recently we wrote that Galaxy Digital has been on a major Solana (SOL) buying spree, acquiring roughly $300 million worth of the token from exchanges including Coinbase, Binance, and Bybit.
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