Galaxy Digital pivots from Bitcoin mining to AI in CoreWeave partnership

Crypto financial services company Galaxy Digital will cut back on Bitcoin mining operations in upcoming quarters, TheMinerMag reported. The company is transforming its Texas data center into an AI and high-performance computing (HPC) facility through a new 15-year hosting deal with cloud-computing firm CoreWeave. As Galaxy shifts resources from crypto mining to support CoreWeave's AI infrastructure, it anticipates decreased hashrate and lower Bitcoin production. According to its Q4 earnings report released March 28, Galaxy mined 977 BTC in 2024, yielding $22.1 million in mining revenue.