Galaxy Digital appoints former Xerox CEO Steven Bandrowczak as independent director for AI data center expansion

Galaxy Digital just added a serious operator to its board. The firm appointed Steven Bandrowczak, former CEO of Xerox Holdings, as an independent director, bringing decades of large-scale technology infrastructure experience to a company that’s rapidly evolving beyond its crypto roots.

Bandrowczak led Xerox from August 2022 until stepping down in March 2026, overseeing one of America’s most storied technology companies. Now he’s joining Galaxy at a pivotal moment: the company is in the middle of building out its Helios campus in West Texas, a project with a projected investment exceeding $15 billion.

From Bitcoin mining to AI powerhouse

Here’s the thing about Galaxy’s Helios campus. It started life as a Bitcoin mining facility. Now it’s being transformed into one of the largest AI data center hubs in the country, with more than 1.6 gigawatts of approved power capacity.

Phase I of the project hit a major milestone in early July 2026, delivering 133 megawatts of energy to CoreWeave under a long-term 15-year lease agreement. CoreWeave is one of the most prominent GPU cloud computing providers in the AI space.

The financial scaffolding supporting this transformation is substantial. Galaxy secured a $1.4B project financing facility back in August 2025 and raised an additional $460 million in equity specifically earmarked for the expansion.

Why Bandrowczak matters

Bandrowczak spent roughly three and a half years running Xerox before joining Galaxy’s board. The skill set maps directly onto the challenges of building and operating a multi-gigawatt data center campus.

The appointment also serves as a credibility marker for institutional investors who might be skeptical about a crypto firm’s ability to execute a $15 billion infrastructure project. Having a former Fortune 500 CEO on the board helps bridge that trust gap.

For Galaxy Digital shareholders, the company now trades on NASDAQ under the ticker GLXY, giving it access to a much broader investor base than most crypto-native firms.

Investors should keep an eye on execution risk. The 133 MW Phase I delivery to CoreWeave is encouraging, but scaling from 133 MW to 1.6 GW is a fundamentally different challenge. Building and delivering the infrastructure on time and on budget will be the real test.

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