Galaxy Digital and MARA Snap Up Texas Land for AI Data Centers
GLXY sits 25% above its 52-week low of $16.43.
Summary
Galaxy Digital acquired a 500-acre site in McGregor, Texas, to build its second AI/HPC data center campus, starting with 74 MW of power capacity. MARA Holdings separately announced a 1,200-acre powered site in Matagorda County with up to 2 GW of capacity for AI/HPC and bitcoin mining. Both moves deepen their Texas infrastructure footprints amid a wave of large-scale investments, including Meta's $14 billion AI data center campus in El Paso. For Galaxy, this follows the recent $3.5 billion debt offering to fund its Helios data center expansion and the completed Phase I power delivery to CoreWeave. The new campus signals a significant scaling of its AI/HPC strategy beyond the initial Helios project. MARA's acquisition marks a major pivot toward AI/HPC workloads alongside its core mining operations, leveraging abundant Texas power. These land deals position both companies to capture growing demand for AI compute infrastructure, though execution and financing details remain to be seen.
At the time of this announcement, GLXY was trading at $20.58 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $8B. The 52-week trading range was $16.43 to $45.92. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Cointelegraph.