Galaxy Digital plans to allocate 800 MW to HPC hosting in AI pivot

Cryptocurrency-centric financial services company Galaxy Digital announced in its third quarter earnings report that it has signed a contract with an unnamed U.S. hyperscaler company and decided to allocate all 800 MW of processing capacity to high-performance computing (HPC) hosting. According to CoinDesk, the company is known to be a large-scale data center specializing in providing large amounts of computing power. The publication explained that the decision was made as the profits of the entire mining industry decreased due to the Bitcoin halving. Galaxy Digital is also taking measures to transform its Bitcoin mining business into an artificial intelligence (AI) computing business due to that decrease in Bitcoin mining-related profits.