Galaxy Digital Raises $460 Million For Data Centre Expansion

Galaxy Digital has just landed nearly half a billion dollars in a strategic financing round. And they’re planning to use it to scale up their high performance computing business in Texas.

What’s happening:

• Galaxy Digital (NASDAQ: GLXY) has landed a new $460M USD investment from a single asset management company
  

By the numbers:‍

• Galaxy Digital issued roughly 9M common shares at a price of $36.00 USD per share
  
• Founder Mike Novogratz and other individuals a part of Galaxy Digital’s leadership team sold a total roughly 3.75M common shares at $36.00 USD per share as part of a secondary transaction
  

Why it matters:‍

• This is the single largest equity financing round that Galaxy Digital has ever done since the company was first founded
  

Going deeper:‍

• Galaxy Digital has publicly stated they plan to use the new growth capital to continue to expand the power capacity at their flagship data centre Helios located in Texas which has an existing multi billion dollar deal for hosting GPUs with CoreWeave (NASDAQ: CRWV)

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