Galaxy Digital (GLXY) Down After Billion-Dollar Expansion

We recently published 10 Stocks Hammered Harder Than Wall Street. Galaxy Digital (NASDAQ:GLXY) is one of Tuesday’s worst performers.

Galaxy Digital saw its share prices drop by 10.06 percent on Tuesday to close at $24.09 apiece, as investors have fully priced in last week’s $1.4-billion data center expansion news.

According to the company, it successfully raised the amount through a debt financing facility, the proceeds of which will be used to develop its Helios data center campus in West Texas.

The debt facility will fully fund the initial retrofit and expansion of Helios to deliver the first phase of power for AI and high-performance computing (HPC) operations under a long-term agreement with CoreWeave Inc.

“This financing marks a major milestone in our transformation of Helios into a next-generation AI and HPC datacenter campus,” said Galaxy Digital (NASDAQ:GLXY) founder and CEO Mike Novogratz.

“We’re on track and excited to deliver the first phase of power to CoreWeave beginning in early 2026. This project is a key step in diversifying Galaxy’s business model as we expand beyond crypto and into the broader AI infrastructure space,” he noted.

Galaxy Digital (NASDAQ:GLXY) has provided the $350 million equity requirement, with the remaining construction costs to be covered by the debt facility.

The $1.4 billion debt facility, which was secured at 80 percent loan to cost, has a 36-month term and is secured by all the assets associated with the first phase of Helios’s buildout.

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