Galaxy Digital raises $1.4B to retrofit crypto mining facility

Galaxy Digital (Nasdaq: GLXY) is raising $1.4 billion in debt financing to convert its Helios cryptocurrency mining facility in Texas into an AI data center, The Block reported. The funds will be used to fulfill a 15-year exclusive lease agreement previously signed with cloud company CoreWeave (Nasdaq: CRWV). Galaxy Digital previously announced plans to transition its mining operations to AI computing in November of last year.