important notes
Mike Novogratz’s Galaxy Digital recently received $460 million in private investment to turn a Bitcoin mining facility into an AI data center. The investment came from one of the world’s largest but anonymous asset managers. Galaxy Digital plans to invest in the Helios deal over the long term.
Galaxy Digital has secured $460 million in private investment with plans to build an artificial intelligence (AI) data center in a former Bitcoin mining site in Texas. The money came from one of the world’s “largest asset management companies,” the people said.
Galaxy Digital awaits Toronto Stock Exchange approval
Mike Novogratz’s Galaxy Digital recently received a $460 million private investment from one of the world’s largest asset managers, although he did not disclose the name. The funding will be injected to accelerate the transformation of the company’s former Bitcoin mining site in Texas into an AI data center.
Galaxy’s CEO acknowledged that the fund is important in supporting the company’s “strategic vision and ability to build a first-class business across digital assets and data centers.” The investment details include the purchase of 12.77 million Class A shares at a price of $36 per share. Revenues are designated to offset general corporate expenses.
In addition, Galaxy Digital plans to invest in the expansion of its Helios campus, which it expects to deliver 133 megawatts of IT capacity by next year. Meanwhile, the transaction is expected to close on or about October 17, 2025, but is still awaiting approval from the Toronto Stock Exchange.
Galaxy Digital invests funds in acquisition of Helios
Notably, this comes just two months after Galaxy Digital secured a $1.4 billion financing facility covering 80% of the Helios acquisition. Once the purchase is complete, the Helios data center will have a long-term capacity of 3.5 gigawatts. This makes it one of the largest AI infrastructure projects in North America.
Galaxy Digital plans to push 800 megawatts of this capacity to CoreWeave, an AI cloud infrastructure provider and one of its partners.
The remaining 2.7 gigawatts will be leased to additional clients. Incidentally, the company has a 15-year agreement with CoreWeave. To be precise, Galaxy will be required to provide compute power for AI and high-performance computing workloads starting in 2026. In return, Galaxy will receive more than $1 billion in annual profits, totaling about $15 billion over the long term.
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Benjamin Godfrey is a blockchain enthusiast and journalist who enjoys writing about real-world applications of blockchain technology and the innovations that drive public acceptance and global integration of emerging technologies. His desire to educate people about cryptocurrencies has also inspired his contributions to popular blockchain media and sites.
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