The Digital Activation Company Galaxy Digital (GLXY) said on Friday that it accepted a private investment of $ 460 million from one of the world’s largest asset managers, an agreement that would add cash to its growing data center business and general business needs.
The investment, from the non -demolished company, is divided between 9,027,778 new shares in Class A, issued by Galaxy and 3,750,000 shares sold by certain managers, including founder and CEO Mike Novogratz, to $ 36 per year. Share, according to the press release. It is an 8.5% discount from Friday’s closure course.
“Strengthening our balance is crucial to scaling Galaxy’s data center business effectively, while maintaining economic flexibility maintaining economic flexibility to support future growth,” Novogratz said. “
Having one of the world’s largest and most sophisticated institutional investors makes such a significant investment in our business will support our strategic vision and our ability to build leading companies across digital assets and data centers. “
The transaction is intended to close on October 17 or October 17, which are subject to usual conditions, including the approval of the Toronto Stock Exchange.
Mining to AI
The company said the funds will help build its Helios Data Center -Campus, which is scheduled to deliver 133 megawatt critical IT load in the first half of 2026 during its phase 1 lease.
Galaxy bought Helios from fighting mines Argos in 2022 to act as a mining. As Bitcoin mining became increasingly difficult with thin margins, Galaxy, like many other miners, turned its mining against a data center for AI and HPC computing.
Since then, Galaxy has increasingly invested in Helios to quickly expand and reinvent it as an AI and HPC hosting data center.
The New Deal comes after Galaxy announced this summer that it had secured $ 1.4 billion in funding to expand Helios. This agreement followed a lease agreement with AI Cloud provider Coreweave (CRWV), which has now committed to all 800 megawatt approved power capacity at Helios.
This Galaxy AI shub has been a welcome development in the market as investors and analysts consider the pivot as a step that could add more value to the stock. Galaxy shares jumped 3% in trading after the market on the news of New Deal.
Read more: The Bull Case for Galaxy Digital is AI -Datacentre that is not Bitcoin -mining, says research company
