- •Galaxy Digital secures $460M to expand its Helios AI and data center operations in Texas.
- •The investment strengthens liquidity and supports Galaxy’s shift toward AI infrastructure.
- •Helios to deliver 133 MW by 2026, positioning Galaxy among the top AI infrastructure developers.
Digital asset investment firm Galaxy Digital has agreed to a $460 million private investment from one of the world’s largest asset managers. The deal would strengthen its balance sheet and accelerate the expansion of its Helios data center in Texas. The transaction would also support general corporate needs as the company pivots toward AI infrastructure.
The asset manager would purchase 12.77 million Class A shares at $36 per share. Of these, 9,027,778 shares are newly issued by Galaxy Digital, while 3,750,000 shares come from executives, including founder and CEO Mike Novogratz. The transaction is scheduled to close on October 17, 2025, pending approval from the Toronto Stock Exchange.
Galaxy Fuels AI Growth with Major Investment
Novogratz said the investment marks a significant milestone for Galaxy. He noted that backing from one of the world’s largest institutional investors reinforces confidence in the company’s long-term vision. He added that the capital would advance Galaxy’s goal of becoming a leader in both digital assets and data infrastructure.
Proceeds from the investment would fund the expansion of the Helios campus, which is expected to deliver 133 megawatts of IT capacity in early 2026. The site, acquired in 2022 from Argos, was once a Bitcoin mining facility. It is now being transformed into a large‑scale AI and high‑performance computing center.
Galaxy Digital previously secured a $1.4 billion loan facility in August to finance about 80 percent of the Helios buildout. Under a 15‑year contract with CoreWeave, an AI cloud infrastructure provider, Galaxy would supply compute power starting in 2026. The company expects the partnership to generate more than $1 billion in annual revenue, totaling about $15 billion over the contract term.
CoreWeave has already committed to leasing 800 megawatts of Helios’s approved 3.5‑gigawatt total capacity. Galaxy plans to lease the remaining 2.7 gigawatts to additional clients as demand for AI computing continues to rise. The expansion positions Helios as one of the largest AI infrastructure projects in North America.
Galaxy’s shift toward AI and high‑performance computing follows a broader industry trend. Many crypto‑native firms are retooling their mining operations to meet the growing need for AI data centers. Bitcoin mining margins have thinned amid record hashrates, reducing profitability and forcing firms to explore more sustainable business models.
Related: Galaxy Digital Brings Nasdaq Shares to Solana With Superstate
Galaxy Accelerates Shift from Crypto to AI Infrastructure
The Helios transformation highlights Galaxy’s strategic pivot. The company aims to repurpose its mining infrastructure to serve the accelerating demand for computational power. By focusing on AI and high‑performance workloads, Galaxy seeks to capture a share of the rapidly expanding global compute market.
The firm described the new investment as both financial and strategic. It would provide liquidity and support the company’s diversification beyond cryptocurrency activities. With major institutional backing, Galaxy is expected to accelerate development at Helios while strengthening its corporate foundation.
The deal also reflects a broader industry trend. In July, CoreWeave acquired an off‑block data center from Core Scientific in an all‑stock transaction valued at $9 billion, underscoring how crypto and AI infrastructure are converging as companies adapt to changing market dynamics.
The investment transaction is likely to conclude in the coming month. Upon completion, it would further enable the company with resources to implement its data center expansion strategy and expand its AI compute business.