Texas keeps saying "y'all want some land?" and crypto keeps saying "yes, 1,700 acres please" 🤠

Crypto firms Galaxy Digital and MARA Holdings announced separate Texas land acquisitions on Tuesday, deepening a wave of AI, high-performance computing (HPC) and Bitcoin mining infrastructure buildouts in the state. Galaxy Digital, a crypto financial services and infrastructure company, said it acquired a 500-acre site in McGregor, Texas, where it plans to construct its second AI and HPC data center campus in the state. The project is expected to launch with 74 megawatts of power capacity before expanding in later phases.

MARA Holdings, a Bitcoin miner and digital infrastructure company, separately disclosed an agreement to acquire a 1,200-acre powered site in Matagorda County with access to up to 2 gigawatts of power capacity. The company said it intends to develop the site for AI and HPC workloads as well as bitcoin mining.

The two announcements came the same day Meta Platforms outlined plans for a $14 billion AI data center campus in El Paso, underscoring the scale of infrastructure capital flowing into Texas. Texas has become a focal point for data center and crypto infrastructure projects because of its large power market, relatively low electricity costs and the availability of land suitable for large-scale developments. The state's independent ERCOT grid has also drawn developers seeking access to substantial power capacity.