Galaxy Provides Update on ERCOT Batch Zero Large Load Classifications

NEW YORK, Sept. 8, 2026 /CNW/ -- Galaxy Digital Inc. (Nasdaq: GLXY) ("Galaxy" or the "Company") today announced that five of its Texas data center projects received conditional classifications under the Electric Reliability Council of Texas ("ERCOT") Batch Zero large load interconnection process, covering approximately 4.2 gigawatts of gross power capacity.

ERCOT's Batch Zero process groups qualifying projects into a single, system-wide study that allocates available transmission capacity. Base Load projects are modeled in the study and are not subject to further capacity allocation, while Studied Load projects are subject to capacity allocation as part of the study. ERCOT has released conditional classifications as part of the on-going audit and community impacts review process.

Galaxy Projects Approved Prior to the Batch Zero Process:

• Helios I -- 800 megawatts (MW) at the Helios data center campus, classified as Batch Zero Base Load. 
• Helios II -- 830 MW at the Helios data center campus, classified as Batch Zero Base Load. The capacity received ERCOT approval in January 2026, before the March 4 study validation-check confirmation date, and is part of the more than 1.6 GW already approved at Helios. The project remains on schedule to energize in 2028, and leasing is not impacted by the process. As the developer, owner and operator of this project, Galaxy will hold all retail electricity service agreements as part of its operations, with power costs included in broader hosting or lease arrangement with clients.

Galaxy Batch Zero Expansion Projects:

• Caspian -- 700 MW of gross power capacity, classified as Batch Zero Studied Load. Galaxy submitted Caspian as Base Load; the project has been conditionally classified as Studied Load.
• Selene -- 900 MW, classified as Batch Zero Studied Load.
• Helios III -- a 1,000 MW load request at the Helios campus, classified as Batch Zero Studied Load.

Following the Governor's August 3, 2026, directive, the Public Utility Commission of Texas on August 20th granted ERCOT good cause exceptions permitting conditional classification while it audits the data center projects in its interconnection queue, a process ERCOT expects to take several months. Galaxy will comply with any additional requirements that result from the directive. As the developer, owner and operator of these projects, Galaxy will hold all retail electricity service agreements as part of its operations, with power costs included in broader hosting or lease arrangement with clients.

Galaxy's data center development pipeline now totals more than 5.7 GW of potential power capacity across four sites. This includes a second 1,000 MW load request at Helios, also progressing through ERCOT's interconnection process, and Merlin, a new campus in McGregor, Texas, with the potential for 500 MW of gross power capacity.

About Galaxy

Galaxy Digital Inc. (Nasdaq: GLXY) is a global leader in digital assets and data center infrastructure, growing the economy that runs on code. Galaxy delivers the onchain infrastructure that connects institutions to digital assets, including trading, advisory, asset management, staking, self-custody, and tokenization. Galaxy also develops and operates data center infrastructure to power AI and HPC workloads. Anchored by its Helios campus in Texas, Galaxy is building a multi-gigawatt pipeline of more than 5.7 GW of potential capacity, positioning it among the largest and fastest-growing data center developers in North America. The Company is headquartered in New York City, with offices across North America, Europe, the Middle East, and Asia. Additional information about Galaxy's businesses and products is available at www.galaxy.com.

CAUTION ABOUT FORWARD-LOOKING STATEMENTS

The information in this document may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended and "forward-looking information" under Canadian securities laws (collectively, "forward-looking statements"). Our forward-looking statements include, but are not limited to, statements regarding our or our management team's expectations, hopes, beliefs, intentions or strategies regarding the future, including statements regarding the classification, verification, study, interconnection, energization timing, capacity and leasing of our Texas data center projects. Statements that are not historical facts are forward-looking statements. In addition, any statements that refer to estimates, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements contained in this document are based on our current expectations and beliefs concerning future developments and their potential effects on us taking into account information currently available to us. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks include, but are not limited to: (1) the conditional nature of the Batch Zero classifications described above and the possibility that a classification is modified, withdrawn or not confirmed; (2) the outcome, scope and duration of the verification and audit being conducted by ERCOT and the Public Utility Commission of Texas, and the risk that a project is removed from Batch Zero; (3) the absence of a replacement date for delivery of Batch Zero study results and the resulting uncertainty in interconnection timelines; (4) delays or failures in permitting, regulatory approvals, construction, power interconnection, or commissioning; (5) our ability to secure tenants and execute leases for uncontracted capacity on expected terms or timelines, or at all; (6) changes in applicable laws or regulations and adverse regulatory or legislative developments, including in Texas; (7) changes or events that impact the AI/HPC and digital asset industry, including potential regulation, that are out of our control; (8) the risk that our business will not grow in line with our expectations or continue on its current trajectory; (9) liquidity or economic conditions impacting our business; (10) technological challenges, cyber incidents or exploits; and (11) those other risks contained in filings we make with the Securities and Exchange Commission (the "SEC") from time to time, including in our Quarterly Report on Form 10-Q, available at www.sec.gov/edgar.

Should one or more of these risks or uncertainties materialize, they could cause our actual results to differ materially from the forward-looking statements. Except as required by law, we assume no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements. You should not take any statement regarding past trends or activities as a representation that the trends or activities will continue in the future. Accordingly, you should not put undue reliance on these statements.

^© Copyright Galaxy Digital 2026. All rights reserved.

SOURCE Galaxy Digital Inc.

Investor Relations Contact: Jonathan Goldowsky, [email protected]; Media Relations Contact: Michael Wursthorn, [email protected]