Galaxy Digital has raised $460 million in private investment to transform its Texas-based Bitcoin mining facility into an artificial intelligence (AI) data center. According to sources familiar with the matter, the funding came from one of the world’s «largest asset managers.»
Galaxy CEO Mike Novogratz acknowledged that the unnamed fund plays a critical role in supporting the company’s «strategic vision and our ability to build leading businesses in the digital asset and data center space.» Investment details indicate the purchase of 12,77 million Class A shares at $36 per share. The proceeds will be used to cover general corporate expenses.
Additionally, Galaxy Digital plans to use some of the funds to expand its Helios campus, which is expected to provide 133 megawatts of computing power by next year.
The transaction is expected to close on or around October 17, 2025, but is still pending approval from the Toronto Stock Exchange.
Notably, the investment was announced just two months after Galaxy Digital secured a $1,4 billion loan to cover 80% of the construction costs of the Helios data center. Once completed, the facility will have a long-term capacity of 3,5 gigawatts, making it one of the largest AI infrastructure projects in North America.
Galaxy Digital intends to lease 800 megawatts of this capacity to CoreWeave, a cloud infrastructure provider for artificial intelligence and one of its partners. The remaining 2,7 gigawatts will be leased to other clients.