Galaxy Digital acquires 500 acres of land in Texas to build its second AI data center campus

PANews July 28, citing The Block, reported that Galaxy Digital, a crypto finance company, announced it has acquired about 500 acres of land in McGregor, Texas, to build its second large AI and high-performance computing (HPC) data center campus in the state. The project will be carried out together with the city of McGregor and local partners. The first phase is planned with a capacity of 74MW, with power supply expected by 2028, and plans to expand to a scale of hundreds of megawatts by 2030.

Galaxy expects the project will add at least $130 million to the local tax base in McGregor. Galaxy CEO Mike Novogratz said that over the past few years, the company has validated the model of long-term cooperation between private data centers and rural communities through its Helios data center in Dickens County, Texas. The new campus will be the next step in Galaxy’s multi-campus data center business strategy.

Previously, Galaxy acquired the Helios Bitcoin mining campus in West Texas in 2022 and gradually shifted toward AI and high-performance computing. Currently, the Electric Reliability Council of Texas (ERCOT) has approved Galaxy’s expansion of Helios to a capacity of 1.63GW, which has been leased for 15 years by AI cloud computing company CoreWeave.