The post Galaxy Digital to raise $300m for Helios data center expansion appeared on BitcoinEthereumNews.com.

Galaxy Digital is launching a $300 million private offering of exchangeable senior notes due 2029 to fund the expansion of its West Texas Helios data center and support corporate initiatives. Mike Novogratz’s Galaxy Digital Holdings announced on Nov. 20 that it plans to offer $300 million in exchangeable senior notes through a private placement to enhance its high-performance computing infrastructure at the Helios data center in West Texas and for general corporate purposes. The offering includes an option for initial purchasers to buy an additional $45 million in notes within 13 days of issuance. The notes will accrue interest semiannually and mature on Dec. 1, 2029, according to the press release. “The issuer intends to use the net proceeds from the offering to support the build-out of high-performance computing infrastructure at its Helios data center in West Texas and for general corporate purposes, including potential repurchases of its existing indebtedness.” Galaxy Digital Galaxy ramps up investment in Bitcoin mining operations Galaxy Digital’s board has also approved a corporate reorganization to re-domicile the company to the U.S. Under this plan, existing shareholders will convert their ordinary shares into Class A common stock of Galaxy Digital Inc., a Delaware-based holding company. The offering remains subject to approval by the Toronto Stock Exchange and is limited to qualified institutional buyers and purchasers under U.S. and Canadian securities laws. Galaxy Digital acquired the Helios facility in late 2022. Located in Dickens County, West Texas, the 200-megawatt high-performance Bitcoin (BTC) mining and computing center was initially developed by Argo Blockchain and is among the largest crypto mining sites in North America. Source: https://crypto.news/galaxy-digital-to-raise-300m-for-helios-data-center-expansion/

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Filed under: News - @ November 20, 2024 4:24 pm