Galaxy Digital signs protocol, planning to convert its 800-megawatt mining capacity into high-performance computing

Jinse Caijing reported that Galaxy Digital, based in New York, stated in its third-quarter financial report that it has signed a non-binding list of terms with an unnamed US hyperscale company, which can convert all of its 800 megawatts (MW) of power capacity into high-performance computing (HPC). Hyperscale companies specialize in providing a large amount of computing power for large data centers. This comes as the BTCHalving has led to a decline in profits for the company and the entire mining industry. Galaxy’s Helios mining facility in western Texas has been approved for a total power capacity of 800MW, of which 200MW is currently operational. According to the statement, the facility has another 1.7 gigawatts (GW) of power capacity under review, pending potential permits. Despite a total Hash Rate or Mining capacity increase of 11% due to Halving, increased Mining Difficulty, and seasonal operational cutbacks, Mining revenue still decreased by 23% from the previous quarter, according to Galaxy.