Galaxy Digital Inc. said on July 22, 2026, that Galaxy Helios Data Centers II LLC, an indirect wholly owned subsidiary, plans to launch a private debt offering to raise $3.507 billion in aggregate principal amount of senior secured notes due 2031. The proposed notes offering is subject to market conditions and other factors, and Galaxy cautioned that there is no assurance the transaction will be completed, or completed on the terms described. The securities are expected to be offered privately to qualified institutional buyers under Rule 144A and to non-U.S. persons outside the United States under Regulation S of the Securities Act. Galaxy said the issuer intends to use the net proceeds to fund part of a major data-center development in Dickens County, Texas, as well as to fund debt service reserves. The project is planned for an approximately 260-acre site and would include two buildings containing eight data halls. The facilities are expected to have a combined 400 megawatts of utility capacity and 260 megawatts of critical IT capacity. The company also furnished illustrative financial and project information related to the development in connection with the contemplated offering. The disclosure was made under Item 7.01, Regulation FD Disclosure, with Exhibit 99.1 containing the illustrative financial information; Item 9.01 lists the exhibits. Galaxy emphasized that the information is being furnished, not filed, and that the announcement is not an offer to sell or a solicitation to buy securities. The filing includes standard forward-looking statement cautions, noting that the size, timing, completion and terms of the proposed notes offering remain uncertain. Galaxy also warned that market conditions, interest rates, closing conditions and business risks could affect whether the offering is consummated and whether the proceeds are applied as currently planned. The report was signed by Chief Financial Officer Anthony Paquette on July 22, 2026.