PANews reported on March 28 that according to The Miner Mag, under a new 15-year hosting agreement with CoreWeave, Galaxy Digital will reduce its Bitcoin mining output in the coming quarters as it transforms its Texas data center into an AI and HPC facility.

In its fourth-quarter earnings report, Galaxy disclosed that it mined 977 BTC in 2024, with mining revenue of $22.1 million and expenses of $11.9 million after deducting production reduction subsidies. The marginal cost per Bitcoin in the fourth quarter was less than $38,000, and the average cost for the whole year was about $26,000. However, Galaxy expects its managed hash rate and overall BTC production to decline as it reallocates resources from Bitcoin mining to AI infrastructure that supports CoreWeave.