Galaxy Digital Raises $460 Million to Transform Texas Bitcoin Mine into AI Data Center

Galaxy Digital, the crypto-focused financial services firm led by Mike Novogratz, has announced a bold $460 million capital raise to repurpose one of its massive Bitcoin mining facilities in Texas into a cutting-edge AI data center.

This strategic move highlights the accelerating convergence between blockchain infrastructure and artificial intelligence, as mining firms across the U.S. look to capitalize on the soaring demand for computing power driven by AI model training and inference workloads.

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🧠 From Mining Hashes to Training Models

Originally built to mine Bitcoin at scale, Galaxy’s Texas site already possesses key advantages: access to cheap renewable energy, extensive cooling infrastructure, and robust grid connectivity. These factors make it an ideal candidate for AI workloads that demand high-performance GPUs and continuous energy supply.

Galaxy plans to retrofit the facility with thousands of NVIDIA H100 and AMD MI300 chips, enabling it to provide compute services to AI startups, research institutions, and enterprise clients.

According to Novogratz:

“We see this transition as a natural evolution of our infrastructure strategy — combining Bitcoin’s decentralized computing ethos with the future of artificial intelligence.”

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💡 Why It Matters

The move underscores a growing trend: Bitcoin miners pivoting toward AI infrastructure as mining profitability tightens and demand for data center capacity skyrockets.

Texas, already a global hub for crypto mining, is now positioning itself as a next-generation compute corridor — where renewable energy, regulatory flexibility, and large-scale infrastructure converge.

Galaxy’s transformation could set a precedent for other mining firms struggling with volatile BTC prices and rising energy costs, offering a sustainable path toward profitability and diversification.

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🌍 The Bigger Picture

As AI continues to redefine industries, blockchain companies like Galaxy Digital are uniquely positioned to bridge two of the most transformative technologies of our time.

By merging crypto infrastructure with AI computing, Galaxy isn’t just following a trend — it’s building the foundation for the next digital industrial revolution.

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📊 TL;DR

Galaxy Digital raised $460 million to convert a Bitcoin mine in Texas into an AI data center.

The site will host high-performance GPUs for AI workloads.

Reflects a wider trend of crypto miners pivoting toward AI.

Strengthens Texas’s position as a global compute powerhouse.