The NASDAQ-listed firm secured notes at 9.875% interest to fund part of a 400 MW Texas data center project.
Galaxy Digital priced $3.507 billion in secured notes through its Galaxy Helios Data Centers II subsidiary to finance a Texas data center. The offering carries a 9.875% annual interest rate and matures on August 1, 2031, with semiannual payments starting February 1, 2027.
The project includes two buildings with eight data halls on 260 acres in Dickens County, supported by 400 MW of utility capacity and 260 MW of critical IT capacity. Proceeds will cover project costs and debt-service reserves, though Galaxy did not disclose the total expected cost.
The notes will amortize at 4% annually, with semiannual payments beginning at least 10 months after project completion. The offering is set to close July 28 pending customary conditions.