Galaxy Digital Secures $460M to Transform Texas Mining Site into AI Hub

2025-10-11 16:46

Galaxy Digital has successfully raised $460 million to convert its former Bitcoin mining site in Texas into a high-performance computing hub for artificial intelligence. The funding, sourced from a major asset manager, involves the issuance of 9 million new shares and the sale of 3.8 million shares by executives. The transaction is set to finalize on October 17. The Helios facility in Dickens County will undergo redevelopment in collaboration with AI-cloud provider CoreWeave, with the first phase of the project expected to launch in early 2026. Galaxy Digital initially acquired the site in 2022 and has secured a $1.4 billion project-finance facility to facilitate the transformation.

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