Galaxy Digital raises $460M to convert its former Bitcoin mining site into a 133 MW AI data center hub by 2026.
Galaxy Digital has secured a massive $460 million investment. This funding comes from one of the world’s largest asset managers. One of the warehouses used to mine Bitcoin will be transformed into the capital push. It will be transformed into a supercomputer center of artificial intelligence. Therefore, the company is laying emphasis on the development of AI infrastructure.
The privatization cost was valued at 36 dollars a share. It held approximately nine million fresh shares by Galaxy. Moreover, 3.8 million shares were sold by the executives, such as the CEO, Mike Novogratz. The overall transaction is to be closed on October 17. The transaction should be approved by the Toronto Stock Exchange. This deal of high conviction justifies the new strategy of the firm.
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Galaxy will utilize the high proceeds for the important purposes. The capital will facilitate the overall operations of the company. So, the main priority is the supply of the construction of the Helios data center campus. This campus is essential in the future growth plans of the company. This investment has a significant influence on the overall balance sheet of Galaxy.
Mike Novogratz made statements concerning this strategic infusion. According to him, it is imperative to strengthen the balance sheet. This enables the data center business to be scaled. Therefore, it assists in keeping it financially flexible to grow in the future. He perceives the investment as a large vote of confidence.
It is significant to have a big and complex institutional investor. The investment is a direct support of the strategic vision. There is, however, the fact that it supports the capacity to develop the topmost business. This encompasses digital assets as well as specialty data centers. The investment was carried out in a private strategic deal.
The construction of the Helios data center is still on time. The plant will provide 133 MW of IT load that is critical. This is a significant milestone, which is scheduled to take place in the first half of 2026. Besides, this delivery is covered by the Phase One lease agreement. This is a robust infrastructure that is required to house AI workloads.
The investment secures the finances needed to hasten this build. The company considers the funds to be essential to its success. Institutionalization of the shareholder base was one of the benefits of U.S. listing. In fact, some of the major asset managers currently occupy prestigious positions. This expands the financial base of the company.
Novogratz observed that institutional discourse in recent times was positive. He reported the high conviction in asset managers and sovereign wealth funds. On the other hand, hedge funds and family offices are also highly involved. This popular attraction is justified by the business model of the company. This dedication is considered the basis of further growth.
The third quarter of 2025 results of the company will be reported shortly. The earnings will be reported before the opening of the Nasdaq. This announcement will be on Tuesday, the 21st of October 2025. Finally, the earnings call will be broadcasted live on YouTube in the first place. This shift in the mining of Bitcoins towards AI data centres is final.
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