Galaxy Digital Inc. (Nasdaq: GLXY) has acquired approximately 500 acres in McGregor, McLennan County, Texas, to develop an artificial intelligence and high-performance computing data center campus, according to a company statement.

The land purchase provided roughly $7.5 million in revenue to the City of McGregor. The acquisition was made under a development agreement with the city, with the campus to be built within the McGregor Industrial Park in collaboration with the McGregor Economic Development Corporation and Heart of Texas Electric Cooperative.

An initial development phase is expected to reach 74 MW, with the company targeting the start of power delivery in 2028. Galaxy said it plans to coordinate with the utility to support development above ERCOT's 75 MW large load threshold and believes the campus has the potential to expand to several hundred megawatts through 2030, subject to additional transmission infrastructure development.

Galaxy will fund and build a private electrical substation on the site. The company said the project is expected to add an estimated minimum of $130 million to the local property tax base. Construction is projected to support several hundred trade and construction jobs, with permanent operations roles to follow.

The McGregor site is Galaxy's second major data center investment in Texas. The company's first, the Helios campus in Dickens County, West Texas, was acquired in 2022 and currently holds more than 1.6 gigawatts of ERCOT-approved power capacity.

"McGregor is the next step in our strategy to build a disciplined, multi-campus data center business," said Mike Novogratz, Founder and CEO of Galaxy.

The facility will use a closed-loop cooling system, the same approach used at the Helios campus. Galaxy will also fund additional water infrastructure required under the development agreement.