The investment will support Galaxy’s Helios data center expansion as the firm pivots deeper into high-performance computing.
By Krisztian Sandor | Edited by Aoyon Ashraf | Oct. 11, 2025
Galaxy Digital (GLXY) announced Friday it has secured a $460 million private investment from one of the world’s largest asset managers, a move that will strengthen the company’s balance sheet and accelerate its transformation into a leader in AI and high-performance computing (HPC) infrastructure.
The deal involves the sale of roughly 13 million shares — including 9,027,778 new Class A shares issued by Galaxy and 3,750,000 shares sold by executives, among them founder and CEO Mike Novogratz — at $36 per share, an 8.5% discount from Friday’s close. Galaxy shares rose about 3% in post-market trading following the announcement.
“Strengthening our balance sheet is essential to scaling Galaxy’s data center business efficiently while maintaining financial flexibility for future growth,” Novogratz said in a statement. “Having one of the world’s most sophisticated institutional investors make such a significant investment supports our vision to build leading businesses across digital assets and data centers.”
The transaction is expected to close around October 17, pending customary approvals from the Toronto Stock Exchange.
From Mining to AI Infrastructure
Proceeds from the investment will primarily fund the buildout of Helios, Galaxy’s flagship data center campus in Texas, which is projected to deliver 133 megawatts of critical IT load by mid-2026 as part of its Phase One lease.
Galaxy originally acquired Helios from miner Argo Blockchain in 2022, operating it initially as a Bitcoin mining site. As margins in crypto mining tightened, the company shifted strategy — pivoting the facility toward AI and HPC workloads, a trend now reshaping the digital infrastructure landscape.
Earlier this year, Galaxy secured $1.4 billion in financing to expand Helios and inked a lease agreement with AI cloud provider CoreWeave (CRWV), which has now committed to the site’s entire 800 megawatts of approved power capacity.
Analysts have welcomed Galaxy’s AI-driven pivot, viewing it as a high-growth opportunity amid rising demand for compute power. The new investment signals institutional confidence in Galaxy’s HPC strategy and provides fresh capital to accelerate expansion through 2026.
Galaxy shares have gained momentum this year as investors increasingly view the company as a bridge between digital assets and next-generation computing.
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