Galaxy Digital Wins Conditional ERCOT Clearance for 4.2 GW Texas Data Centers

New York – September 12, 2026 -- Galaxy Digital Inc. (Nasdaq: GLXY) said five of its Texas data center projects have received conditional classifications under the Electric Reliability Council of Texas (ERCOT) Batch Zero large load interconnection process, covering approximately 4.2 gigawatts (GW) of gross power capacity.

ERCOT splits Galaxy's projects into base load and studied load categories

Helios I (800 MW) and Helios II (830 MW), both at Galaxy's Helios data center campus, were classified as Batch Zero Base Load, meaning they are modeled in the system-wide study but not subject to further capacity allocation. Helios II's capacity was approved by ERCOT in January 2026, ahead of the March 4 study validation-check date, and forms part of more than 1.6 GW already approved at the Helios site. The project remains on schedule to energize in 2028, and Galaxy said leasing at Helios is not impacted by the process.

Three expansion projects face capacity allocation as Studied Load

Caspian (700 MW), Selene (900 MW) and a 1,000 MW load request under Helios III were conditionally classified as Batch Zero Studied Load, subjecting them to capacity allocation within ERCOT's study. Galaxy noted it had submitted Caspian as Base Load, but the project was reclassified as Studied Load in the conditional review.

Texas regulators granted ERCOT authority to audit large load queue

Following an August 3, 2026, directive from the Texas Governor, the Public Utility Commission of Texas on August 20 granted ERCOT good cause exceptions permitting conditional classification while it audits data center projects in its interconnection queue. ERCOT expects the audit and community impacts review to take several months, with no replacement date yet set for delivery of final Batch Zero study results. Galaxy said it will comply with any additional requirements arising from the directive.

Pipeline expands past 5.7 GW across four Texas sites

Galaxy's data center development pipeline now totals more than 5.7 GW of potential power capacity across four sites, including a second 1,000 MW load request at Helios and a new campus, Merlin, in McGregor, Texas, with potential for 500 MW of gross power capacity. As developer, owner and operator of these projects, Galaxy will hold all retail electricity service agreements, with power costs folded into broader hosting or lease arrangements with clients.