Mike Novogratz’s Galaxy Digital has secured a $460 million investment to convert its former Bitcoin mining site in Texas into a large-scale AI data center. Mike Novogratz’s Galaxy Digital has secured a $460 million private investment from one of the world’s “largest asset managers” to accelerate the transformation of its former Bitcoin mining site in Texas into an AI data center. The deal involves the purchase of 12.77 million Class A shares at $36 per share, with the proceeds earmarked for general corporate use and the expansion of its Helios campus, expected to deliver 133 megawatts of IT capacity in early 2026, the company announced Friday. “Having one of the world’s largest and most sophisticated institutional investors make such a significant investment in our company will support our strategic vision and our ability to build leading businesses across digital assets and data centers,” Novogratz said. Read more
Bitcoin stayed near three-week lows after a giant $20 billion liquidation cascade, but crypto market predictions warned that the bottom was not yet in. Key points: Bitcoin and altcoins reel from the biggest liquidation event in crypto history. BTC price action fails to stage a rebound from multi-week lows, with $100,000 getting closer. Read more
US spot Bitcoin ETFs logged $2.71 billion in weekly inflows, even as Trump’s China tariff comments triggered a brief market outflow. US spot Bitcoin exchange-traded funds (ETFs) continued their strong “Uptober” performance with $2.71 billion in weekly inflows, marking another strong week for institutional demand. According to data from SoSoValue, total assets under management for Bitcoin (BTC) ETFs climbed to $158.96 billion as of Friday, representing nearly 7% of Bitcoin’s total market capitalization. “Capital keeps flowing into BTC as allocators double down on the digital gold conviction trade. Liquidity is building now as the market momentum takes shape,” Vincent Liu, chief investment officer at quantitative trading firm Kronos Research, told Cointelegraph. Read more