Galaxy

Our portfolio companies are hiring! 🚀 🔹 Backend Engineer — Rain: https://lnkd.in/eY-5RmCd 🔹 Head of Strategic Accounts — Mesh: https://lnkd.in/g6wg7MXN 🔹 Head of Product — 1Money Network: https://lnkd.in/e7tHGuzg 🔹 Head of Sales, US — Fence: https://lnkd.in/efxMMyw5 🔹 Product Designer — Ornn: https://lnkd.in/esENeKri Full list of open roles at our portfolio companies are here: https://lnkd.in/e2USVtVr

In this week's Weekly Research Brief, Taj Singh parses the dueling open letters over AI regulation; Lucas Tcheyan unpacks Zcash’s Ironwood upgrade; and Will Owens looks at TradeXYZ’s one-time bailout of traders burned by an accurate but anomalous oracle mark.

The future of traditional assets is moving on-chain. On Prof G Markets, Mike Novogratz made the case that the shift is already underway, and Galaxy is helping TradFi institutions adopt blockchain infrastructure to drive global access to US markets.

Hype cycles come and go. What lasts is the infrastructure underneath. Galaxy Founder & CEO, Mike Novogratz, joined Scott Galloway and Ed Elson on Prof G Markets for a wide-ranging conversation on where markets are heading as well as one of the more unexpected turns in Galaxy's story: how a business rooted in digital assets is becoming a serious player in AI infrastructure. The through line is the Helios campus in West Texas. What began as bitcoin mining operations has been repurposed into a data center built to power AI workloads, turning land, power, and compute into a foundation for the next wave of AI compute needs. Mike makes the case that when the noise around any given cycle fades, value accrues to whoever owns that foundation. It’s a reminder that the most durable businesses are often the ones building the layer everyone else depends on.

It’s National Intern Day! We asked our team for one piece of advice they would give to those just starting their careers. One theme that kept coming up? Networks compound over time. The relationships you develop today will be the ones in your corner throughout your career. Hear more advice from the Galaxy team, including Co-Heads of Digital Assets, Jason Urban & Steve Kurz, Chief of Staff, Karalynn Dubria, and our former interns, Isabelle Yablon, Nam Ninh, Lucas Tcheyan, and Emaan Qazi. 👇

Blake King, PE, Head of Power at Galaxy, took the stage at Energy Investors Forum (EIF) in Dallas for a session on "Building and Servicing the Next Wave of Data Centers,” sharing the mic with leaders across energy, compute infrastructure, and capital.   There was great energy in the room. Thanks to the Energy Investors Forum and TheEnergyMag for having Galaxy at the table.

We're hiring an Investor Associate on our Galaxy Ventures team! This is a high-agency role spanning the full investment lifecycle including sourcing, diligence, IC, and portfolio support focused on the convergence of financial services and digital assets. If you have an investing background and conviction in the space or an interest in ventures, we'd love to hear from you! Apply here: https://lnkd.in/gYuJQ9e8

Galaxy has executed a development agreement and acquired approximately 500 acres in McGregor, McLennan County, Texas, for the construction and operation of an AI and high-performance computing data center campus within the McGregor Industrial Park. This marks our second major data center investment in West Texas and the first concrete step in building a disciplined, multi-campus data center business. Galaxy is advancing the electrical infrastructure required to support the campus, starting with an initial phase of development expected to reach 74 MW. We believe there is potential for the McGregor campus to grow into a multi-hundred-megawatt site through 2030. The demand for compute is a structural shift, not a passing cycle. McGregor reflects how we believe that demand should be met: with privately funded infrastructure that strengthens the communities that host it. Under the agreement, Galaxy has committed to: • A privately funded, Galaxy-built substation with full financial security for any local infrastructure upgrades • Carrying full tax obligations to the City of McGregor from day one, providing an increase of at least $130 million to its property tax annually to support schools, emergency services, and community needs • Closed-loop cooling that recirculates water internally, keeping water use low • Local job creation across construction and permanent operations roles This builds on our proven track record at Helios, our 1.6GW flagship campus in West Texas, where Galaxy is the largest employer and taxpayer, and an active community investor in Dickens County. We look forward to being a good neighbor in McGregor in the years ahead. Read the full announcement here: https://lnkd.in/dP8HyTUg

Excited to collaborate with K3 Capital, Monad, AUSD and Accountable on bringing institutional credit onchain.

In this week's edition, Alex Thorn discusses the final push to pass the Clarity Act; Will Owens digs into the Bitcoin industry's quantum preparation efforts; and Thaddeus Pinakiewicz explains the latest episode of AI models behaving badly.