Galaxy Digital has secured new investment to fuel the build-out of its Texas data center campus.

The company this week entered into investment agreements with “one of the world's largest and most respected asset managers” for a $460 million private strategic investment in Galaxy's Class A common stock.

The purchase consists of nine million shares from Galaxy and 3.75 million shares from certain executive officers of Galaxy, including its founder and CEO, at $36 per share. The deal is expected this month, subject to customary closing conditions, including approval by the Toronto Stock Exchange.

Galaxy intends to use the proceeds from the investment for general corporate purposes and to power the build-out of its 800MW Helios data center campus – which is set to be fully leased to AI cloud firm CoreWeave.

"Strengthening our balance sheet is essential to scaling Galaxy's data center business efficiently while maintaining the financial flexibility to support future growth," said Mike Novogratz, founder and CEO of Galaxy. "Having one of the world's largest and most sophisticated institutional investors make such a significant investment in our company will support our strategic vision and our ability to build leading businesses across digital assets and data centers."

The investment is expected to close on or about October 17, 2025, subject to customary closing conditions, including approval by the Toronto Stock Exchange.

After breaking ground in July 2021, the 160-acre Helios campus started operations as a cryptomine site in May 2022. Galaxy acquired the data center, located in Dickens County, from Argo Blockchain in late 2022 for approximately $65 million.

CoreWeave first signed on to secure capacity at the site in April 2025, expanding the commitment later that month, and recently exercised its option to secure the final 133MW of critical IT load at the campus.

With CoreWeave set to take over the Helios campus, Galaxy Digital is moving its mining operations elsewhere, having signed a 48MW contract at Soluna's Project Kati data center in Texas.

Galaxy says that the campus has the potential to eventually support up to 3.5GW of power. The company has a further 2.7GW of power capacity under "various stages of load study."

In May of this year, Galaxy Digital went public on the Nasdaq stock exchange, giving it a dual listing with the Toronto Stock Exchange.

The company recently secured a $1.4 billion project financing facility to fund the Helios build-out.