Shares of Galaxy Digital jumped after the company said it received approval to expand its data-center campus in West Texas and it issued a tokenized collateralized loan obligation.

Shares closed up 13.5%, to $31.99 on Thursday. The stock has risen 62% in the past year.

The data-center-infrastructure and digital-assets company said Thursday that it got approval from the Electric Reliability Council of Texas to expand its Helios data-center campus to add 830 megawatts of computing capacity after completing a Large Load Interconnection Study.

The company said it remains on track to deliver initial power early this year, adding that the approval expands its development runway.

"Securing this additional 830 MW approval from ERCOT is a watershed moment for Galaxy and affirms our position as an operator capable of executing hyperscale AI data center development," Galaxy Chief Executive Officer Mike Novogratz said.

The company said it is considering additional power and land opportunities, both in Texas and outside the state.

Galaxy also said Thursday that it had closed the issuance of Galaxy CLO 2025-1, the company's first issuance of a tokenized collateralized loan obligation.

The CLO, which is tokenized on the Avalanche blockchain, would be used to finance an uncommitted credit facility to crypto lending platform Arch Lending. The company said it has financed $75 million so far, and that the CLO may scale up to $200 million.

The transaction closed with a $50 million anchor allocation from Grove, a credit-infrastructure protocol within the Sky ecosystem.