Galaxy Digital Secures $460 Million Investment to Boost AI and Data Center Expansion

Galaxy Digital (NASDAQ: GLXY), a leading digital asset investment firm, announced on Friday that it has secured a $460 million private investment from one of the world’s largest asset managers. The funding aims to strengthen Galaxy’s balance sheet, fuel its expanding data center operations, and support general corporate initiatives.

According to the company’s press release, the deal involves the issuance of 9,027,778 new Class A shares and the sale of 3,750,000 shares by executives, including CEO and founder Mike Novogratz, at $36 per share — an 8.5% discount to Friday’s closing price. The transaction is expected to close around October 17, pending approval from the Toronto Stock Exchange.

Novogratz emphasized that the investment enhances Galaxy’s capacity to scale its data center business efficiently while maintaining financial flexibility. He noted that having a major institutional investor participate in such a significant transaction underscores confidence in Galaxy’s strategic direction.

The funds will primarily support the development of the Helios data center campus, which is projected to deliver 133 megawatts of critical IT load in its first phase by mid-2026. Originally acquired from mining company Argo Blockchain in 2022, Helios began as a bitcoin mining facility. As mining profitability waned, Galaxy pivoted the operation toward AI and high-performance computing (HPC) hosting — a move increasingly common among digital asset firms adapting to the AI boom.

Earlier this year, Galaxy raised $1.4 billion to expand Helios and secured a major lease with AI cloud provider CoreWeave (CRWV), which has committed to the entire 800 megawatts of approved capacity at the site. The new $460 million investment builds on this momentum, positioning Galaxy as a key player in the convergence of digital assets, AI infrastructure, and advanced computing.

Investors have responded positively to Galaxy’s strategic shift, with shares rising 3% in post-market trading following the announcement.