Photo: cointelegraph.com
Galaxy Digital raises $460M to transform Texas Bitcoin mine into AI data center
Galaxy Digital has raised $460 million to convert its Texas Bitcoin mining site, Helios, into a cutting-edge AI data center, reflecting a significant shift towards artificial intelligence investment.
- Galaxy Digital secured $460 million in private investment from a major asset management firm to facilitate the transformation of its Helios Bitcoin mining site into a data center.
- The investment involves the purchase of 12.77 million Class A shares at $36 each, underscoring the growing interest in artificial intelligence infrastructure by Galaxy.
- This strategic shift by Galaxy Digital highlights the companys commitment to pivoting from cryptocurrency mining to emerging technologies, particularly artificial intelligence, amidst market volatility.
Why It Matters
This investment signals a broader trend in the tech industry, where firms are rapidly pivoting to artificial intelligence as a growth area. The transformation of Bitcoin mining sites into AI data centers could redefine asset utilization and impact energy consumption in the tech landscape.