Galaxy Digital announced a $460 million private investment deal on Friday with one of the world’s largest asset managers. The investment will fund the company’s expanding data center operations and general corporate needs.
$GLXY +3.8% [Galaxy Digital lands $460M strategic investment from leading asset manager to expand Helios data center campus in Texas and strengthen balance sheet.] https://t.co/AeWPHR41d3 pic.twitter.com/jpUYbl6StE
— NOTRELOAD AI (@notreload_ai) October 10, 2025
The deal involves the sale of approximately 12.8 million Class A shares at $36 each. Galaxy will issue 9,027,778 new shares while certain executives will sell 3,750,000 existing shares. CEO and founder Mike Novogratz is among the executives selling shares.
The $36 price per share represents an 8.5% discount from Galaxy’s Friday closing price. The company’s stock closed at $39.38 that day. After the announcement, shares jumped 3% in post-market trading.
The transaction is scheduled to close around October 17. It requires approval from the Toronto Stock Exchange and other standard closing conditions. The identity of the investing asset manager was not disclosed in the announcement.
Galaxy plans to use the investment proceeds primarily for its Helios data center project. The campus is located in Texas and represents a shift in Galaxy’s business strategy. The company bought Helios from struggling miner Argos in 2022.
Galaxy initially operated Helios as a bitcoin mining facility. The company later pivoted toward AI and high-performance computing as mining margins tightened. Many cryptocurrency mining companies have made similar transitions to data center operations.
Galaxy has been upgrading Helios to serve as an AI and HPC hosting facility. The company previously secured $1.4 billion in funding during summer 2025 to expand the site. That funding came after signing a lease agreement with AI cloud provider CoreWeave.
CoreWeave has now committed to all 800 megawatts of approved power capacity at Helios. The Phase One buildout will deliver 133 megawatts of critical IT load in the first half of 2026. This represents the initial stage of the broader development plan.
Novogratz stated the investment strengthens Galaxy’s balance sheet for scaling the data center business. He said maintaining financial flexibility supports future growth across digital assets and data centers. The CEO emphasized the importance of having a major institutional investor backing the company’s strategy.
Galaxy announced it will release third quarter 2025 financial results on October 21 before market open. The company will host a conference call and webcast at 8:30 AM Eastern that same day. Management plans to provide updates on progress and strategic initiatives during the call.
The stock had declined 6.7% on Friday from Thursday’s closing price before the investment news was announced. Investors and analysts view the data center pivot as potentially adding value to Galaxy’s business model. The AI and HPC market has attracted interest from former cryptocurrency mining operations seeking new revenue sources.
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