Texas sees major land purchases by Galaxy Digital and MARA Holdings for data infrastructure
In a move strengthening Texas's position as a tech hub, Galaxy Digital and MARA Holdings have purchased substantial land parcels for developing Bitcoin mining, artificial intelligence and high-performance computing facilities.
The expansion of cryptocurrency firms' physical presence in Texas continues, as Galaxy Digital and MARA Holdings revealed distinct land purchases connected to artificial intelligence, high-performance computing (HPC) and Bitcoin mining operations.
Galaxy Digital, which operates as a cryptocurrency financial services and infrastructure provider, announced on Tuesday that it has purchased a 500-acre property located in McGregor, Texas. The company intends to construct its second AI and high-performance computing (HPC) data center campus within the state at this location. Initial operations are anticipated to commence with 74 megawatts of power capacity, with additional expansion planned for subsequent phases.
In a separate announcement, MARA Holdings, which functions as both a Bitcoin mining operation and digital infrastructure provider, revealed it has entered into an agreement to purchase a 1,200-acre site with existing power infrastructure in Matagorda County. The facility offers access to power capacity reaching up to 2 gigawatts. According to the company, the property will be developed to support AI and HPC operations alongside bitcoin mining activities.
These land acquisition announcements occurred on the same date that Meta Platforms revealed its intentions to construct a $14 billion AI data center campus in El Paso, contributing to an ongoing surge of significant infrastructure investments throughout Texas.
The Lone Star State has become a primary location for data center and cryptocurrency infrastructure developments due to its extensive power market, comparatively affordable electricity rates and the presence of land parcels appropriate for large-scale construction projects. Additionally, the state's independently operated ERCOT grid has proven attractive to developers pursuing access to significant power capacity resources.