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When one of crypto’s most prominent firms pivots from Bitcoin mining to artificial intelligence, Wall Street takes notice. Galaxy Digital, the New York-based digital asset management firm led by billionaire Mike Novogratz has secured $460 million in funding from a major institutional investor to accelerate the transformation of its Texas facility into a cutting-edge AI data center.
Unveiled on October 9, 2025, this move marks a significant shift in Galaxy Digital‘s business strategy and signals a broader trend: crypto mining companies are racing to capture the explosive demand for AI computing infrastructure.
The $460 million funding comes from one of the world’s largest asset managers and represents a strong institutional endorsement of Galaxy Digital’s vision to become a leader in AI infrastructure.
“Investing in our AI and digital asset strategy from a major institutional investor supports our long-term mission of building a leading infrastructure business,” said Mike Novogratz, CEO of Galaxy Digital.
This capital injection will not only accelerate construction of the Galaxy Digital AI data center but will also significantly expand its operational capacity, positioning the firm to capitalize on the surging demand for high-performance computing power driven by artificial intelligence and machine learning applications.
The Helios Campus, which previously operated as a Bitcoin mining facility, is now being transformed into a cutting-edge AI hub.
When completed, the Galaxy Digital AI data center will have a capacity of 3.5 gigawatts, with CoreWeave providing 800 megawatts, while Galaxy plans to lease the remaining 2.7 gigawatts to additional clients.
This new investment complements Galaxy’s $1.4 billion debt facility in August, which funded approximately 80% of the Helios expansion.
This combined investment ensures that the Helios campus is well-positioned to meet the growing demand for AI and high-performance computing workloads starting in 2026.
Under a 15-year agreement with AI cloud provider CoreWeave, the Galaxy Digital AI data center will provide computing power for AI and high-performance computing (HPC) applications.
The partnership is expected to generate annual revenue of more than $1 billion, or approximately $15 billion over the entire period, clearly highlighting the commercial potential of not only digital asset operations but also AI infrastructure.
Galaxy Digital’s move reflects a general trend among crypto-native firms moving toward AI infrastructure. Rising Bitcoin hashrates have reduced mining profits, forcing companies to diversify into AI compute services.
CoreWeave, originally a crypto miner, acquired Core Scientific in a $9 billion all-stock deal to expand its AI capabilities and HPC workloads.
Helios’ expansion solidifies Texas as an emerging AI and crypto hub, attracting new technology investments and partnerships.
The Galaxy Digital AI data center aims to provide high-performance computing solutions to startups, research institutions, and large enterprise clients, helping to drive innovation and growth across the region.
Novogratz emphasized his long-term vision for Helios: “Our goal is to establish an AI data center that is scalable and high-performance, while maintaining operational efficiency and sustainability.”
The Galaxy Digital AI Data Center, by combining its digital asset expertise with AI capabilities, provides a strong foundation for next-generation technology services.
With a capacity of 3.5 gigawatts, the Galaxy Digital AI data center is poised to emerge as a prominent player in the rapidly growing AI compute market.
The expected revenue from CoreWeave and future clients will help Galaxy Digital expand its service offering, attract more institutional investors, and further solidify its leadership in the AI and digital infrastructure space.
The Galaxy Digital AI Data Center represents a turning point where crypto expertise connects with AI innovation. By transforming a former Bitcoin mining facility into a cutting-edge AI hub, Galaxy Digital is not only expanding its business but also providing critical infrastructure for the AI and High Performance Computing (HPC) sectors in North America.
