Galaxy Expands Data Center Footprint with Acquisition of 500 Acre Campus in McGregor, Texas
Rhea-AI Summary
Galaxy (Nasdaq: GLXY) has acquired approximately 500 acres in McGregor, McLennan County, Texas under a development agreement with the City of McGregor to build an artificial intelligence and high-performance computing data center campus in the McGregor Industrial Park. The purchase generated about $7.5 million in land-sale revenue for the City.
The privately funded project will be developed with the McGregor Economic Development Corporation and Heart of Texas Electric Cooperative. An initial phase is expected to reach 74 MW and begin receiving power in 2028, with potential growth to a multi-hundred-megawatt campus through 2030. According to Galaxy, it will fund and build a private substation, fully secure utility-required infrastructure upgrades, add an estimated minimum of $130 million to the local property tax base, use water-efficient closed-loop cooling, and support several hundred construction jobs plus permanent operations roles. The campus is Galaxy’s second major Texas data center, complementing its 1.6-GW Helios site in Dickens County.
Positive
- 500-acre McGregor campus acquisition under a development agreement with the City
- Initial development phase targeted at 74 MW of power capacity
- Campus believed to have potential to reach multi-hundred MW by 2030
- Land sale generated about $7.5 million in revenue for the City of McGregor
- Project expected to add at least $130 million to the local property tax base
- Helios reference site with more than 1.6 GW of ERCOT-approved power capacity
Negative
- Initial power delivery for the McGregor campus expected only in 2028
- Campus growth beyond 74 MW depends on additional transmission infrastructure by the utility
- Galaxy will fund and build a private substation and incidental infrastructure upgrades, implying significant capital commitment
News Explained
The acquired campus remains in development: Galaxy has an initial utility agreement for interconnection facilities, but its 74-MW phase is expected to receive power in
Market reaction after 500-acre campus acquisition: GLXY -7.75% in the Jul 28 session
In the Jul 28 session, GLXY declined 7.75%, reflecting a notable negative market reaction. Argus tracked a trough of -17.6% from its starting point during tracking. Our momentum scanner triggered 168 alerts that day, indicating very high trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jul 23 | Senior notes offering | Negative | -6.7% | Galaxy priced senior secured notes to finance a Texas data center project. |
| Jul 23 | Bitcoin consortium launch | Neutral | -1.9% | Galaxy joined a consortium backed by member pledges for Bitcoin security. |
| Jul 22 | Earnings webcast scheduling | Neutral | -2.4% | Galaxy scheduled its second-quarter 2026 results release and investor conference call. |
| Jul 17 | Naming rights partnership | Positive | -3.0% | Galaxy announced a 15-year Texas Tech naming rights and branding partnership. |
| Jul 16 | Institutional vault launch | Positive | -9.2% | Galaxy launched an institutional vault curation offering through Fireblocks Earn. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
GLXY's five recent news events all had negative 24-hour price reactions, including positive or neutral announcements.
Key Terms
high-performance computing technical
interconnection facilities technical
closed-loop cooling system technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Galaxy's second data center campus in
Advances Galaxy's multi-campus strategy to meet surging demand for high-performance computing
The privately funded campus will add to the local tax base and create new jobs, building on Galaxy's track record as the largest employer and taxpayer in
"We've spent the last several years proving in
The campus will be located in
Galaxy is also advancing electrical infrastructure required to support the campus and has secured an initial agreement from the utility to support construction of the utility's required interconnection facilities. An initial phase of development is expected to reach 74 MW. Galaxy plans to coordinate with the utility to support development above the 75 MW large load threshold in ERCOT. The Company currently expects the initial phase of the campus to begin receiving power in 2028, with operations ramping thereafter, subject to the completion of development milestones. Following the development and completion of additional transmission infrastructure by the utility, Galaxy believes the
Underscoring its broader commitment to being an active, engaged partner in the
Galaxy will build its own private substation. Pursuant to the development agreement, Galaxy will fund and build a private electrical substation on the campus, and it will provide full financial security as required by the utility for incidental upgrades to local infrastructure. This is intended to insulate rate payers from costs associated with electrical infrastructure required to support the campus development.
The project will add to the local tax base. Galaxy will carry its full tax obligations to the City from day one, adding an estimated minimum of
The campus will use water-efficient cooling. Just like its Helios data center campus, the facility will use a closed-loop cooling system that recirculates water internally, keeping water use low. Galaxy will fund additional water infrastructure required for the project as provided in the development agreement.
The project will create local jobs. Construction is expected to support several hundred trade partners and construction jobs, with permanent full-time operations roles to follow at competitive annual salaries agreed to with the City in the development agreement.
A proven
Galaxy acquired Helios in
The
Galaxy is committed to being a good neighbor and an active community member everywhere it builds and operates. Galaxy will continue to share information with the community as the campus moves through construction and into operation. The Company looks forward to growing together with
About Galaxy
Galaxy Digital Inc. (Nasdaq: GLXY) is a global leader in digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence. Our digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. In addition, we develop and operate cutting-edge data center infrastructure to power AI and HPC workloads. The Company's 1.6 GW Helios campus in Texas positions Galaxy among the largest and fastest-growing data center developers in North America. Galaxy is headquartered in New York City, with offices across North America, Europe, the Middle East, and Asia. Additional information about Galaxy's businesses and products is available at www.galaxy.com.
CAUTION ABOUT FORWARD-LOOKING STATEMENTS
The information in this document may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended and "forward-looking information" under Canadian securities laws (collectively, "forward-looking statements"). Our forward-looking statements include, but are not limited to, statements regarding our or our management team's expectations, hopes, beliefs, intentions or strategies regarding the future, including statements regarding the planned development, investment, timeline, capacity, economic impact, job creation, and operational characteristics of the McGregor data center campus. Statements that are not historical facts are forward-looking statements. In addition, any statements that refer to estimates, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this document are based on our current expectations and beliefs concerning future developments and their potential effects on us taking into account information currently available to us. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks include, but are not limited to: (1) the satisfaction of remaining conditions in, and the enforceability of, the development agreement with the City of McGregor; (2) delays or failures in permitting, regulatory approvals, construction, power interconnection, or commissioning; (3) changes in applicable laws or regulations and adverse regulatory developments; (4) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (5) changes or events that impact the AI/HPC and digital asset industry, including potential regulation, that are out of our control; (6) the risk that our business will not grow in line with our expectations or continue on its current trajectory; (7) liquidity or economic conditions impacting our business; (8) technological challenges, cyber incidents or exploits; and (9) those other risks contained in filings we make with the Securities and Exchange Commission (the "SEC") from time to time, including in our Quarterly Report on Form 10-Q, available at www.sec.gov/edgar. Should one or more of these risks or uncertainties materialize, they could cause our actual results to differ materially from the forward-looking statements. Except as required by law, we assume no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements. You should not take any statement regarding past trends or activities as a representation that the trends or activities will continue in the future. Accordingly, you should not put undue reliance on these statements.
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