Galaxy Digital, a firm led by Mike Novogratz, purchased 500 acres in McGregor, Texas, to develop a high-performance computing and artificial intelligence (AI) campus. Through a development agreement with local authorities that generated $7.5 million for the city, the company plans to build facilities that will start operations with 74 megawatts (MW) of capacity and receive power starting in 2028.
This new complex represents the firm’s second major mega campus in Texas, joining its 1.6-gigawatt facility in Helios. The initiative will contribute at least $130 million to the local tax base and will operate using a closed-loop cooling system. Although GLXY shares fell 17.48% in the last month due to crypto market volatility, the project consolidates a strategy focused on structural demand for AI infrastructure.
Galaxy expects to expand the center’s capacity to hundreds of megawatts by 2030, funding its own electrical substation to avoid costs for local residents. The company will present its financial results on August 5, where the progress of this key infrastructure will be evaluated.
Source: https://goo.su/mB3pR
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