Share this article
Galaxy Digital stock rises 4% after Texas grid operator approves data center expansion
The expansion supports Galaxy's AI and high-performance computing plans, with construction underway on the first phase.
Jan 15, 2026, 3:51 p.m.
Make us preferred on Google
What to know:
- Galaxy Digital (GLXY) shares are rising in a down market after securing approval to add 830 megawatts of power capacity at its Texas data center.
- The expansion supports Galaxy's AI and high-performance computing plans, with construction underway on the first phase.
Mike Novogratz’s Galaxy Digital (GLXY) shares are up 4% in U.S. trading Thursday morning after the firm secured approval to add 830 megawatts of power capacity at its Helios data center campus in West Texas.
The expansion, approved by Texas’s electric grid operator ERCOT, follows the completion of a required large-load interconnection study and more than doubles the site’s total approved load to over 1.6 gigawatts.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
It marks an additional step in Galaxy’s long-term plan to build out infrastructure for artificial intelligence and high-performance computing (HPC) workloads, the company said in a press release.
The company, which offers crypto financial services and manages a data center portfolio, has also signed a service agreement with AEP Texas, with Wind Energy Transmission Texas acting as the interconnection provider.
Construction is underway on the first phase of Helios under an agreement with AI compute provider CoreWeave. Power delivery is expected to begin in early 2026.
In a statement, CEO Mike Novogratz said the power demand for AI compute in Texas is “unprecedented,” and the approval puts Galaxy in a strong position to grow. The company is now exploring further land and power options in Texas and other states.
The stock’s advance on Thursday is notable given declines across the rest of the crypto sector as bitcoin slid back below $96,000.
Coinbase (COIN, Circle (CRCL) and MARA Holdings (MARA) are among the names sporting 3%-5% declines.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Coinbase CEO says Big banks now view crypto as an ‘existential’ threat to their business
Brian Armstrong returns from World Economic Forum with message: traditional finance is taking crypto seriously
What to know:
- Coinbase CEO Brian Armstrong said a top executive at one of the world’s 10 largest banks told him crypto is now the bank’s “number one priority” and an “existential” issue.
- At Davos, Armstrong highlighted tokenization of assets and stablecoins as major themes, arguing they could broaden access to investments for billions while threatening to bypass traditional banks.
- He described the Trump administration as the most crypto-forward government globally, backing efforts like the CLARITY Act, and predicted that AI agents will increasingly use stablecoins for payments outside conventional banking rails.
Top Stories
