TheBlock
Galaxy Digital has purchased 500 acres in McGregor, Texas, for a second AI data center campus, the company said. The plot is slated to support a privately funded development expected to contribute a minimum of $130 million to the local tax base.
Why it matters
The McGregor buy sits on top of Galaxy's first Texas facility, Helios, which was recently approved to expand to 1.63 GW of capacity. Helios already anchors a 15-year, multi-billion-dollar contract with CoreWeave, the AI compute provider that emerged from the crypto mining space and now powers a large share of US frontier-model training runs. A second privately funded campus on the same utility corridor points to a multi-site Texas AI infrastructure play rather than a single anchor project.
Market impact
Galaxy was reportedly in the market last week for roughly $3.5 billion via a debut junk-bond sale to fund Helios Phase II. The McGregor land adds a second capex surface to that balance-sheet story, and is likely to keep Galaxy on the debt-issuance circuit as it scales the build-out.
Frequently asked questions
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What did Galaxy Digital just buy in Texas?
Galaxy Digital purchased 500 acres in McGregor, Texas, for a second AI data center campus, on top of its existing Helios facility in the state.
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How does the McGregor site connect to Galaxy's CoreWeave deal?
The McGregor buy is a second campus alongside Helios, which was approved to expand to 1.63 GW and anchors a 15-year, multi-billion-dollar contract with AI compute provider CoreWeave.
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How much is the McGregor campus expected to generate for the local tax base?
Galaxy said the privately funded McGregor campus is projected to contribute a minimum of $130 million to the local tax base.
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How is Galaxy funding the Texas AI build-out?
Galaxy was reportedly in the market last week for roughly $3.5 billion via a debut junk-bond sale to fund Helios Phase II, and the new McGregor land adds a second capex surface to that debt-issuance plan.
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Why is this significant for the AI infrastructure sector?
The purchase signals Galaxy is scaling a multi-site Texas AI infrastructure footprint rather than a single anchor project, pairing long-duration compute contracts with traditional credit-market financing.
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