Galaxy Digital Secures $3.5 Billion Financing for Texas AI Data Center Project
Galaxy Digital (NASDAQ: GLXY) has priced secured notes totaling $3.507 billion to support the development of a new data center in Dickens County, Texas. The financing is part of an initiative led by its subsidiary Galaxy Helios Data Centers II and will partially fund construction costs for two buildings with eight data halls across 260 acres. The project includes infrastructure built around 400 megawatts of utility capacity and 260 MW of critical IT capacity. The notes carry a fixed annual interest rate of 9.875%, due on August 1, 2031, with semiannual cash payments starting in February 2027. Galaxy Digital plans to use the net proceeds for project costs and debt-service reserves. The financing will cover only part of the total development cost, which has not been disclosed by the company. The offering is expected to close on July 28 if market conditions are met.
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