Galaxy Digital Secures $460 Million Investment for Data Center Expansion
- Galaxy Digital (GLXY) announced a $460 million private investment from a major asset manager.
- The deal involves issuing 9,027,778 new Class A shares and selling an additional 3,750,000 shares at $36 each.
- This investment is aimed at expanding Galaxy’s Helios data center campus, set to deliver critical IT load by mid-2026.
- The transaction is expected to close around October 17, pending Toronto Stock Exchange approval.
- Galaxy’s pivot from mining to AI and HPC computing has been positively received by investors, boosting share prices by over 3% in post-market trading.
The funds will support the development of Galaxy’s data center operations as it transitions from traditional mining methods to more profitable AI services. This strategic shift aims to enhance operational capacity and financial flexibility.
With this new funding, Galaxy Digital reinforces its commitment to building leading businesses in digital assets and data centers, following a prior $1.4 billion funding announcement for Helios expansion.(Source)
