Galaxy Digital Raises $460M to Build Texas AI Data Center

Galaxy Digital, led by Mike Novogratz, has raised $460 million through a private investment to transform its former Bitcoin mining operation in Texas into a large-scale AI data center. The investment, made by one of the world's largest asset managers, will fund the expansion of the Helios campus, which is expected to provide 133 megawatts of IT capacity by early 2026. The company plans to lease additional power to clients, anticipating over $1 billion in annual revenue from a partnership with AI cloud infrastructure provider CoreWeave. With a targeted total capacity of 3.5 gigawatts, this initiative positions Helios as one of the largest AI infrastructure projects in North America. The investment follows a $1.4 billion loan secured previously to support the Helios buildout, reflecting the trend of crypto firms pivoting towards AI in response to challenges in Bitcoin mining profitability.

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