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Galaxy Digital has acquired about 500 acres in McGregor, Texas, for a new AI and high-performance computing campus, extending its data-center business beyond its Helios site in West Texas.
The purchase follows MARA Holdings’ acquisition of a separate powered-land project in Matagorda County with access to as much as 2 gigawatts of capacity. Both companies are applying crypto-infrastructure experience, power-market access and large-load development skills to AI and HPC demand.
Galaxy Plans 74MW First Phase at McGregor Campus
Galaxy bought the McGregor site under a development agreement with the city. The sale generated about $7.5 million in land-sale revenue for McGregor. The property sits inside McGregor Industrial Park in McLennan County and will become Galaxy’s second Texas data-center campus.
The company has reached an initial utility agreement covering interconnection infrastructure and expects the first development phase to reach 74 MW. Power is scheduled to begin arriving in 2028, subject to construction and other milestones.
McGregor Site Could Reach Several Hundred Megawatts by 2030
Galaxy believes further transmission development could expand the McGregor campus to several hundred megawatts by 2030. The company will finance and build its own substation.
It will also fund infrastructure upgrades required for the site. The project is expected to add at least $130 million to McGregor’s property tax base. That makes the campus both a data-center expansion and a local infrastructure project for the city.
MARA targets up to 2GW of capacity by April 2028
MARA’s separate transaction gives it control of a project covering more than 1,200 acres in Matagorda County, about 90 miles southwest of Houston. The site is expected to access an initial 1 GW of grid capacity by October 2027.
Capacity could rise to as much as 2 GW by April 2028 if development and power milestones are met. MARA plans to develop the property with Starwood Digital Ventures for high-performance computing and flexible workloads, including Bitcoin mining.
MARA Purchase Price Could Reach $600M
MARA’s SEC filing shows the purchase price could reach $600 million if development, power, and leasing milestones are achieved. The company said the site has already attracted interest from potential HPC tenants.
Full energization would lift MARA’s potential power portfolio to about 4.8 GW, including its pending Long Ridge Energy & Power acquisition. The project gives MARA another large Texas site as mining companies compete for access to grid capacity and AI-related compute demand.
Galaxy and MARA Use Bitcoin Mining Infrastructure for AI Expansion
Both deals continue a shift among crypto infrastructure companies toward large AI and HPC campuses. Land access, grid interconnection work and power-management experience developed around Bitcoin mining can be reused for new computing customers.
Galaxy already operates its 1.6 GW Helios campus in Dickens County, while MARA has invested more than $1.2 billion in Texas. Their next steps depend on grid approvals, construction and securing long-term tenants for the new campuses.
