Galaxy Secures $460M Investment from Major Asset Manager for HPC Expansion
Galaxy Digital has secured a $460 million private investment from a major asset manager to support its data center expansion and other corporate needs. The investment involves 9,027,778 new Class A shares and 3,750,000 shares from executives at $36 per share, an 8.5% discount from the last closing price. The transaction is expected to close around October 17, pending Toronto Stock Exchange approval.
- Funds will enhance Galaxy's Helios data center, targeting 133 megawatts of IT load by mid-2026.
- Helios, acquired from Argos in 2022, shifted focus from bitcoin mining to AI and HPC hosting.
- Galaxy previously secured $1.4 billion for Helios expansion, including a lease with CoreWeave for full power capacity.
- Investors reacted positively, with Galaxy shares increasing by 3% post-announcement.
