Galaxy raises $460 million to advance Texas AI data center transformation

PANews reported on October 11th that Galaxy Digital, according to The Block, completed a private placement at $36 per share, issuing approximately 9 million new shares and selling approximately 3.8 million shares to management (including CEO Mike Novogratz). The transaction is expected to close on October 17th, subject to approval by the Toronto Stock Exchange. The funds will be used for general corporate purposes and the next phase of construction at the Helios campus in Dickens County, Texas. The campus, which was converted from a Bitcoin mining facility into a high-performance computing data center for CoreWeave, is expected to be online in the first half of 2026 and will support tens of thousands of high-end AI servers. Galaxy previously secured $1.4 billion in project financing and signed a 15-year lease with CoreWeave, with annual revenue expected to exceed $1 billion. The project has the potential to become one of the largest data centers in the United States.