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Galaxy Digital pays over $70 million for Texas Tech stadium naming rights. Mentioned Coins A massive strategic move in Texas: Galaxy Digital transforms the Red Raiders' stadium into "Galaxy Stadium." Discover how this 15-year partnership marks the firm's pivot toward AI infrastructure. Listen to article Galaxy Digital, the Nasdaq-listed digital assets firm, has announced a 15-year agreement valued at over $70 million to acquire the naming rights for Texas Tech University's football stadium. Starting in the 2026 season, the current Jones AT&T Stadium will officially become Galaxy Stadium. The timing is strategic for both parties. Texas Tech is coming off strong performances, winning the Big 12 and qualifying for the College Football Playoff. The stadium's new era will begin on September 5 in a game against Abilene Christian. More than just branding. Through this partnership, Galaxy becomes the official data and digital assets partner of the Texas Tech athletic department. Branding will be present not only in football but also at men's and women's basketball games. Furthermore, the agreement opens new NIL (Name, Image, and Likeness - a system allowing collegiate amateur athletes to monetize their image and name) opportunities for student-athletes through activation campaigns and original content. CLEON is thrilled to welcome Galaxy as the new naming rights partner for its football stadium. This long-term partnership will have a lasting impact on Texas Tech athletics. Kirby Hocutt, Texas Tech Athletic Director Strategic pivot toward AI and HPC. While stadium branding provides visibility and credibility, the actual strategy of Mike Novogratz, CEO of Galaxy, runs much deeper. The firm is undergoing a major transformation: shifting from pure crypto trading toward AI (Artificial Intelligence) and HPC (High-Performance Computing) infrastructure. Galaxy is investing billions of dollars in the Helios campus, located in Dickens County, Texas. This is a data center hub with an approved capacity of 1.6 gigawatts, designed to support the code-based economy. At its Helios campus in Dickens County, CLEON is building the infrastructure that powers the code economy. Mike Novogratz, Galaxy CEO Risks and lessons from the past. This move is not without risk. The market has seen similar partnerships collapse spectacularly, most notably the case of FTX and the NBA arena. A 15-year agreement with a crypto company entails long-term risks, especially since Galaxy has weathered volatile periods, recently reporting a quarterly loss of $482 million. However, analysts at Bernstein believe that crypto-native firms and Bitcoin miners are becoming unexpected "power brokers" in the race for AI infrastructure, thanks to their access to cheap energy and vast tracts of land. In Texas, however, gigawatt-scale projects attract critics due to pressure on the electrical grid and water consumption, testing the "closed-loop" water recycling system implemented by Galaxy. CLEON: 15 years is an eternity in the crypto world. Let's hope Galaxy's roots run deeper than FTX's, because in Texas, if you promise something to the community, you have to deliver. The pivot to AI is the only logical move to survive trading volatility. Original source Disclaimer: Content is automatically generated with the help of AI from public sources and does not constitute financial or investment advice. Trade responsibly. React before the market. AI technical analysis + macro news, combined into a single action signal.

McGregor welcomes 2 new industrial developments as it faces water challenges. McGregor is facing claims it overpumped water from the Trinity Aquifer three straight years, and a local resident is organizing a petition drive to remove the mayor from office. But the city located 15 minutes from Waco continues to wheel and deal, selling land to a would-be data center developer and to a Florida manufacturer that may hire 500 long-term. The Southern Trinity Groundwater Conservation District has reportedly cited the city for pulling more water than permitted since 2023. SpaceX, which tests rocket engines on 4,300 acres in McGregor's industrial park, leads the consumption list. And SpaceX may get new neighbors, with the McGregor City Council recently voting to sell 499 acres for more than $7 million to Galaxy, a company pledging to spend at least $400 million placing a data center on the land, though city economic development director Andrew Smith said the final figure could approach $1 billion. At the same meeting last month, the council voted to sell 124 acres to Florida-based Fidelity Manufacturing, which crafts metal enclosures for large generators, shipping the steel packages around the country. People are also reading... Those deals are percolating as issues arise relating to McGregor's water use. The San Antonio Express-News reported the city has extracted "more water than the total allotted under both a 2016 permit it opened to support SpaceX and its historic use permit, according to the conservation district, which assigned the violations to the City of McGregor/SpaceX." According to the report, SpaceX's annual consumption has been roughly double the amount of the next highest city user since 2023. Last year, the utility pulled nearly 258 million gallons of water, according to records the newspaper cited. That's nearly 103 million gallons, or two-thirds, more than its permitted 155 million gallons, the report said. The Southern Trinity district, which manages groundwater in the Waco area, is demanding the city pay a fine and secure water rights to cover its increased usage, according to the newspaper report. McGregor City Manager Kevin Evans released a statement to the Tribune-Herald, saying, "This water serves the entirety of the McGregor Industrial Park, not just SpaceX. We are working diligently with Southern Trinity. We have solutions in place that solve the issue. We will be connecting with them very soon." He said he would not comment further at this time. Dennis Fehler, an area resident and frequent critic of city leadership, said in a phone interview that the proposed data center and other developments pending within the industrial district would serve to aggravate the city's reliance upon overpumping to meet demand. In a Facebook post, Fehler said Galaxy's presentation to the city council reveals the data center project would use "about 3,000 gallons of water per day per Powered Shell, with up to 10 Powered Shells allowed. That is up to about 30,000 gallons per day, or about 10.95 million gallons per year, before taxpayers even get into construction water, fire protection, maintenance, emergency use, or future expansion pressure. "Galaxy's own presentation also highlights its Texas data-center footprint and notes that it has more than 1.6 gigawatts of ERCOT-approved capacity at its Helios operation in Dickens County. So let us stop pretending this is just another quiet business moving into town. This is a heavy industrial power project, and it is being placed on top of McGregor's existing SpaceX water problem," Fehler wrote in his lengthy posting. "Now the same City Hall that allowed the SpaceX water mess to reach three consecutive years of violation is asking taxpayers to trust another major industrial deal involving land, water, power, roads, noise, drainage, emergency services, and long-term public risk. No. That is not good enough." Smith, the executive director of McGregor's economic development office, defended the decision to sell land to Galaxy. He said the company proposes a closed-loop system that conserves water while cooling the data center. He said McGregor uses only half its surface water availability at Lake Belton. Fehler confirmed to the Tribune-Herald he is circulating a petition targeting McGregor Mayor Jim Lilley for a recall election. The newspaper article mentions that the number of test firings at SpaceX have increased significantly since 2023, "as SpaceX has been seeking to break its own launch records and racing to meet NASA contract deadlines." The tests primarily have involved Falcon 9 and Starship rocket engines. Each test fire uses tens of thousands of gallons, the newspaper said. It cited records showing that SpaceX has used 89.5 million gallons of water since last June, almost double the amount used by Knauf Insulation, 45.9 million. Fidelity operations. Fidelity Manufacturing began local operations earlier this year, and the city voted last month to sell the Florida-based manufacturer 124 acres in McGregor's industrial park adjacent to its current location on Main Street near Bluebonnet Parkway. The company crafts metal generator enclosures, or packages, and fuel tanks, stairways and platforms to serve power generators, some larger than a boxcar. "We leased Fidelity approximately 200,000 square feet in the former Ferguson building," said Bland Cromwell, a local industrial real estate specialist. "The plan at the time was stay in the facility for 2.5/3 years, and then possibly build. It appears they have now formalized plans on a tract to construct a building. I'm not sure on the timeline, and I'm not sure they might need both spaces. "Right now we know they have plans to do some modifications to the 200,000 square feet to fit their operation," Cromwell said by email. "I can't speak to the employment number, but early on I heard (500 staffers) once they are at full speed. They are really nice folks who look forward to operating in McGregor." Mitch Twardosky, Fidelity Manufacturing's CEO, said in a January interview the company would launch McGregor operations this year with 50 employees, with that number rising to more than 100 by year's end. "Our goal is having 500 employees, and potentially more, in the next five years," said Twardosky, who said he considered Dallas, Ennis and Corsicana in his search for a Texas site. He said interest in Texas intensified as the state became a hotbed for data center growth. He could not be reached for comment on the McGregor land deal. In the late 1990s, Ferguson Enterprises built the nearly 600,000-square-foot regional hub on 102 acres adjacent to the McGregor Industrial Park at 2055 S. Main St. It afforded easy access to U.S. Highway 84 and Interstate 35, and served as a distribution center for plumbing supplies, lighting fixtures, appliances and building products. It closed last year, eliminating 80 jobs and a valued McGregor corporate citizen. Tractor Supply Group has signed a lease on 350,000 square feet in the former Ferguson building, a deal also brokered by Cromwell. Get the latest local business news delivered FREE to your inbox weekly.