Data Centre Danny @datacentredanny

@BitcoinAIGuy @ColeMacro Let’s gooooo I’m long $ASST

The stock I'm most bullish on right now is $GLXY I just raised my price target to $97, a 4.2x from here I built a SOTP valuation for Galaxy breaking down 3 parts of the business: - AI data centers - Crypto brokerage - Balance sheet Here's the break down: 1. The AI data center business (Helios+) CoreWeave signed a 15 year lease on 526MW of Helios (plus two 5 year extensions). That's $1.2B+ of average annual revenue at 90%+ margins, over $30B across the full term Phase I (133MW) is already online and paying ~$80M a quarter. Phase II starts delivering Q2 2027, Phase III in 2028 Fully built, that's ~$950M a year of EBITDA from ONE tenant. At 10-20x (where data center landlords trade) that's $9.5B to $19B. Galaxy's entire market cap is $8.9B right now, so everything I discuss below is currently priced at FREE Then there's Helios II: another 830MW that ERCOT classified as Base Load on Sept 8, while Texas has paused new data center interconnections. Helios II gets a pass, many others do not There's no tenant signed yet, but power is THE bottleneck right now and this is one of the only big blocks available for 2028. If Galaxy signs it at $2.2M/MW the finished building is worth $13B. At $2.5M/MW (what I think this scarcity gets them) it's $21B There still no tenant announced for this which is why $GLXY still trades like shit, but thats the opportunity. For one, its not going to be hard to find a tenant and two, the longer they wait the higher premium they get ad demand continues to grow On top of that there's 4.9GW more in the pipeline (Merlin, Caspian, Selene) that I give almost no value to right now but will bring some optional value later next year 2. The crypto business Everyone forgets Galaxy made $505M of gross profit and $247M of EBITDA from trading, lending and asset management in 2025, when BTC averaged a price of $100K This year with BTC <$70K it's roughly breakeven. That's the whole point, this business is a call option on the crypto bull market, which I now believe we are in based on recent price action If BTC goes to $125K-$150K in 2027 like I expect (could be much higher FYI), I have this at $280M-$470M of EBITDA. At 13-15x that's $4B-$8B of value the market is paying ~zero for today Also, if this happens, then the profit can be used to reduce dilution for the data center capex. 3. The balance sheet Galaxy holds $2.5B of cash and stablecoins plus ~$1.2B of crypto and investments (including an Etched stake). Against that, ~$3.5B of debt plus the $3.5B of notes it raised in July to build Phase II So net debt is roughly a wash today, and it grows to ~$5B as Helios II gets built in 2027 The biggest risk right now from the market is CoreWeave. It's the only tenant and the market is pricing its credit risk (its CDS traded at ~50% implied default odds in July). That's why my bear case uses 10x, but I think thats irrational bc CoreWeave has never missed a payment, its backlog is $129B, and if its credit normalizes the multiple goes to 20x (or more). That one multiple is worth ~$20/share on Helios I alone (my god Galaxy is so under priced) So here's where it lands (bear / base / bull): EOY 2026: $15 / $34 / $67 EOY 2027: $23 / $52 / $97 Even my BEAR case for 2027 is at today's price and that assumes no Helios II tenant, BTC at $85K and the lowest multiple in the group. The risk/reward here is unlike any stock on the market $GLXY is one of my largest holdings in my Milk Road PRO portfolio and I've been adding to it all year on dips. For more calls like this and to see what else is in my portfolio, check out PRO here: link.milkroad.com/t5837z

Kyle Reidhead | Milk Road @KyleReidhead

2 months ago

There is no stock out there like $GLXY and its flywheel for a re-rate just kicked off! Here's what the market is missing about Galaxy Galaxy sits in one of the most in-demand products globally right now: Land, Power, Shell (LPS) And it funded this from its crypto business,

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Henry Ford’s factory workers earned $5/day salary. At the time that salary bought 5oz of gold per month. Henry Ford paid his factory workers~$20k/month salary in today’s dollars. We don’t need a minimum wage, we need hard money.

Q3 is in the books and @galaxyhq delivered financially 🚀 I) Helios had its first full quarter recognizing revenue on the $CRWV contract, generating more than $70m of EBITDA II) $GLXY will likely report a large gain on its ETCHED investment (~$85m after liquidity/minority discounts) III) $BTC, $ETH, $SOL, and $HYPE increased by 40%, 66%, 56%, and 35% respectively in Q3, driving more than $200m in crypto treasury gains. Galaxy did not report a net long position in $ETH at 6/30 but I would be surprised if they didn’t acquire any throughout the quarter to benefit. IV) Rising crypto prices and activity should boost revenue across the platform including trading, lending, staking and asset management. V) Announced partnerships with BNY, MS, and Bank of Leumi. Mike @novogratz has said that if this business line were broken out investors would be pleased with the profitability. Time to whip it out boss? VI) Launched GOFR benchmark for institutional lending VII) Expanded product offerings within GalaxyOne VIII) Raised $3.5B in senior secured notes to finance Helios buildout Excluding any one-time charges, my best guess is $GLXY will report Net Income in the $325m range for Q3, well above WS estimates. Potential catalysts on the horizon in Q4 include signing the elusive 2nd tenant at Helios, crypto momentum, and calming nerves around Super Intelligence, Interest Rates, and Midterms. The stock price and messaging from management has been absolutely abysmal, but hopefully that improves with the new head of IR and putting a muzzle on the CEO. Cash flow solves a lot of problems and if management can deliver on any of its promises the stock should reach fair value over time 🤞. NFA/DYOR

@FormerDrJeff Goku gifs when price went from $8,000 to $8,400

Really good framework here for valuing AI/data center names. The biggest takeway: separate contracted MW, approved/unleased MW, and early-stage pipeline then assign value based on how de-risked each bucket is. Apply that to $GLXY and the setup gets very interesting. • 526 MW of critical IT load is already contracted to CoreWeave, supporting $1.2B+ of average annual revenue at 90%+ lease-level EBITDA margins. • Another 830 MW at Helios II is approved but unleased. It should not receive full contracted value today, but it also shouldn’t be valued at zero. • The remaining multi-GW pipeline deserves only heavily probability-weighted optionality. Using that framework, I get to roughly ~$36/share for $GLXY today without assuming full value for the pipeline. And if Helios II gets leased to another hyperscaler, the upside moves materially higher. That’s why the next Helios lease matters so much. The market still largely treats Galaxy as a crypto company with a data center asset. I think the better framework is increasingly the opposite.

TheBigBerbowski @TheBigBerbowski

2 weeks ago

x.com/i/article/2103…

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@stefanvanderlux @galaxyhq Doing gods work for the plebs on X

@BitcoinAIGuy Move out of my moms basement

@ncbtrades Ripping cigars back to back weekends 🚬🚬🚬

How I feel watching @galaxyhq build out the digital and AI infrastructure of the future while not worrying about the daily $GLXY stock price. The fundamental tailwinds are abundant. - Tokenization going mainstream and financial institution partnerships growing - Demand for compute rising rapidly while Galaxy holds 830mw available for highest bidder - Crypto asset prices rising, strengthening our balance sheet materially - GalaxyVentures keeps printing winners and building out the flywheel It’s not a matter of if, but when the stock price will catch up 🚀

Ruben @rdominguezibar

2 weeks ago

founders check the stock price like employees check the news, Bezos says that habit misleads you Amazon's fundamentals improved monthly during its worst crash build weight over votes

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i asked opus 5.5 to make a 3 min video about the history of bitcoin i told claude to rely on data from my local 1.8 tb postgres database of bitcoin data (coins, blocks, hacks, attribution, everything) here’s what opus made in 1 hour 22 mins on max effort with a 10 line prompt

@benjamincowen You provide alpha but at the end of the day people need to make their own decisions Stop your apology tour and continue with the charts You will never make everyone happy on the internet

@cognitive_cap @01CuriousGeorge Toronto marathon next year

@moonlanding321 Call the CEO of bitcoin bc no one cares about anything you just said

Hi friends I’m bullish bitcoin and $GLXY Long and strong 🫡

@GrindeOptions There was a reverse stock split…. Great buys and the trade is just getting started

@intangiblecoins @LORD_WETTE @jvisserlabs

@jvisserlabs hey jordi — come on the galaxybrains.io pod! would love to have you. rich is right, we would have a great convo