Galaxy Digital (GLXY) Stock: Drops After Texas AI Data Center Expansion Plans
TLDR
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Galaxy Digital stock dropped after unveiling a 500-acre Texas AI campus expansion.
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McGregor project starts with 74 MW and targets larger capacity by 2030.
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Galaxy will build a private substation and fund local utility infrastructure.
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The project is expected to add at least $130 million to the local tax base.
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New campus expands Galaxy’s AI infrastructure beyond the Helios data center.
Galaxy Digital (GLXY) shares fell 8.08% to $20.86 after the company announced plans for a new artificial intelligence and high-performance computing campus in Texas. The project includes the purchase of about 500 acres in McGregor, McLennan County, for a second major data center investment. The development expands Galaxy’s long-term infrastructure strategy beyond its existing Helios campus in West Texas.
Galaxy Digital Expands Texas AI Infrastructure
Galaxy Digital acquired approximately 500 acres in McGregor under a development agreement with the City of McGregor. The site will support a new artificial intelligence and high-performance computing data center campus. The project marks the company’s second major data center investment in Texas.
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