GregxWhite

Day / Swing trader, i like to share my vision of things on X.

Proud Shareholder, $GLXY

[Nicolas Flamel @NicolasFlamelX]

“I’M PRETTY CERTAIN IT WILL BE THE LARGEST DATA CENTER IN THE UNITED STATES THAT’S NOT BEING BUILT BEHIND THE METER AND THAT’S PART OF THE GRID”

— Novogratz on Helios. $GLXY

[GregxWhite @GregxWhite]

@novogratz Congratz guys !!

[Galaxy @galaxyhq]

Compute capacity and the runway to build it is increasingly scarce. Helios, our AI data center in West Texas, is delivering both — 1.6GW, on schedule.

[OrangeGroveCapital @OGCapital25]

Some napkin math on $GLXY.

It's market cap is around $12B.

$GLXY has three core businesses:
> its crypto balance sheet, currently around $3-4b;
> its crypto Investment Banking type business;
> its data centre business.

Essentially, $GLXY already has 800MW approved and leased to $CRWV and has another 800MW approved (@novogratz said we'll learn of the tenant by July hopefully).

If you apply the same margins as their $CRWV deal, that is 2.4B in revenue and 2.16B in EBITDA (90% EBITDA margins). Say you slap a 15x P/ EBITDA, that's $32B on its data centre business alone. Say 1.6GW comes online 2028? So since market is forward looking, that's a FY 2027 price.

It also seems very likely that $GLXY can have 3.5GW come fully online by 2031/2032. Applying the same metrics, that's $5.25b in revenue and 4.725b in EBITDA in 2031/2032 just from the data centre business alone. At15x P/EBITDA that's $70b ($170 per share) in 7 years.

It's crypto IB business is another beast altogether, but I think it can conservatively be valued at $5B (bull $20B).

Conservatively, $GLXY should at least be $5B (IB Business), $30B (data centre, accounting also for 1.9GW more in study), and $3B crypto balance sheet.

That adds up to $38B. $GLXY is trading at $12B now.

I am long $GLXY.

[Jonathan Goldowsky @jonathan_mg27]

$GLXY is building the infrastructure that will underpin two of the most powerful forces reshaping the global economy: the proliferation of AI and the digitization of financial services.

AI Infrastructure
The future of digital innovation will depend on the development and expansion of AI data centers. $GLXY owns a 1,500+ acre campus in Texas with 1.63 GW of approved power capacity and the potential to scale to 3.6 GW, making it one of the largest data center campuses in the world. We're also actively evaluating a pipeline of new sites across the U.S. and I expect we will be discussing a multi-campus portfolio within the year.

Digital Infrastructure
As blockchains increasingly become the rails for moving, settling and storing value, the world's largest financial institutions are recognizing the need for the technology, infrastructure and expertise to operate in this new environment. Over the past 8+ years, $GLXY has built a full blockchain infrastructure stack spanning wallet infrastructure, private key management, staking, tokenization and more. We've used this infrastructure internally at scale and now provide it to institutions through custom deployments, white label solutions and managed services.

The next decade will be defined by exponential growth in compute and the continued digitization of the economy. $GLXY is positioned at the center of both.

[Nicolas Flamel @NicolasFlamelX]

$GLXY is quietly turning from a “trade” into an “investment”

The float used to be held by people playing crypto cycles

Now it’s slowly moving into the hands of institutions with multi-decade time horizons

[Nicolas Flamel @NicolasFlamelX]

@KARLW0LF @SullyWoodCM I am no longer excited by $100 $GLXY

Time horizon increased

Targets went up

[Zero Bias @walley_1]

$GLXY looks in the 3rd wave on the daily
targeting: 37 — 43 — 54.

Structure is clean, this move has room. Watching how price develops into each level.

Anyone else in this name?

[Galaxy @galaxyhq]

@NicolasFlamelX #WeAreNotStopping 🏗️

[Rich LoPresti @RichLoPresti]

Soon 👇🏼 $GLXY

Galaxy Digital Holdings (GLXY / NASDAQ: GLXY) is expected to be added to the Russell 1000 Index as part of the June 2026 semi-annual reconstitution.
Key Details:
• Preliminary Confirmation: GLXY appears on FTSE Russell’s preliminary additions list for the Russell 3000 Index (released May 22, 2026, with updates through mid-June).
• Russell 1000 Likelihood: At the April 30, 2026 rank date, its market cap (~$11.55 billion per early reports) exceeded the large-cap breakpoint (around $5.7 billion separating Russell 1000 from Russell 2000). Multiple sources explicitly note it as positioned/qualified for Russell 1000 inclusion alongside other large-cap entrants.
• Timing: Changes take effect after the market close on Friday, June 26, 2026 (effective for trading on Monday, June 29). This is the first semi-annual reconstitution under the new schedule.
Context and Impact:
• This is part of broader additions (62 expected to the Russell 1000), with strong representation from technology, industrials, and financials—including several crypto/AI-related names.
• Index inclusion typically boosts visibility and liquidity due to passive fund flows (ETFs and index trackers), though the exact price impact depends on market conditions and implementation.
FTSE Russell publishes final/updated lists periodically leading up to June 26—check their reconstitution page for the latest. Note that market caps and eligibility can shift slightly before the effective date, but current indications are strongly positive for GLXY’s Russell 1000 entry. This aligns well with Galaxy’s growth in digital assets and data centers/AI infrastructure.

[Nicolas Flamel @NicolasFlamelX]

"GALAXY IS BUILDING WHAT WILL BE THE LARGEST SINGLE CAMPUS DATA CENTER IN AMERICA"

"KNOCK ON WOOD, BY THE 4TH OF JULY WE WILL HAVE LEASED OUT — OR CERTAINLY BY SUMMER’S END WE WILL HAVE LEASED THE FULL 1.6GW" $GLXY

[Rittenhouse Research @RHouseResearch]

Morgan Stanley's Global Head of Thematic Research Stephen Byrd discussing how Galaxy Digital $GLXY is overlooked by investors with respect to the "Bitcoin Miner to AI Data Center Developer" trade..

"That stock (Galaxy $GLXY) has been overlooked because it has so many other businesses. But Galaxy has a fantastic opportunity, mostly in Texas, that is ignored by investors, who tend to go to the more pure plays, like the Hut, like Cipher, and they've overlooked Galaxy. Galaxy has a phenomenal growth outlook..

In dialogue everyday with investors, I just don't hear Galaxy come up as much as it should, I think that will change, especially given their Texas position."

$GLXY

[GalaxyOne @galaxyoneapp]

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[Franchise @Franchise9494]

CNBC just pumped $GLXY. Finally. Excellent segment. @novogratz you did well, as Kelly Evans specifically brought up the company because of you. Keep on trucking guys! Congrats on the hard work @jonathan_mg27

[Data Centre Danny @datacentredanny]

I’ve been waiting for this point in the market since 2024

In the middle of a bear market you are trying to survive and preserve capital

The past 12 months I knew Bitcoin would correct and I would be ready for it

The way to create real wealth is buy during bear markets and hodl

$GLXY is positioning itself to be a major player in the crypto market for institutional investors along with retail, while building a state of the art AI data centre is Texas

Clarity Bill will pass and AI is not going away

DCA $GLXY for the remainder of the year and set yourself up for life

NFA but opportunities like this don’t come very often

[Galaxy @galaxyhq]

@MerlijnTrader Big things ahead!

[Rich LoPresti @RichLoPresti]

This is a way bigger deal than anyone is crediting $GLXY for @brian_wright21 @cferraro06 @novogratz @intangiblecoins - I think a @galaxy__brains podcast is warranted… 👇🏼

[Rittenhouse Research @RHouseResearch]

I don’t get the constant HUT hysteria. HUT has signed two hyperscaler deals in the last 6 months totaling ~600MW and $1.1B of annual avg. EBITDA. Both of their sites supporting these contracts are expected to come online in 2027. If you factor in HUT’s debt, cash and investments, and required future financings, it’s valued somewhere around ~18x - 20x annual contracted EBITDA.

Galaxy has a comparable amount of contracted EBITDA with CoreWeave, some portion of which isn’t coming online until 2028. If you factor in debt, crypto investments (assuming 1x book for DA business), phase II and III financings, and cash and stablecoins, it’s trading in the 12x - 13x ballpark as a multiple of their contracted EBITDA. (Of course we can debate what the value of the DA biz is but for simplicity sake 1x book for a financial services company seems a reasonable proxy).

I don’t think there is anyone on Twitter who has talked more positively about CoreWeave than myself, but I would obviously value a $ coming from Google more than a $ coming from CRWV. I would also value a $ coming in 2027 more than a $ coming in 2028. Taken altogether, based on their existing contracts, I think Galaxy trading at a discount to HUT (on the basis of a multiple of contracted EBITDA) is actually pretty reasonable .

The likelihood of GLXY signing another lease which doubles contracted EBITDA to $2B+ seems pretty high. If / when this happens, I would expect a re-rating, just like how HUT re-rated after contracting $1B+ of annual EBITDA with hyperscalers. At the same time, as incremental progress is made towards the remainder of the CRWV build-out, the value of that contract should also increase. Could be looking at a scenario where the majority of the 526MW for CRWV is online in mid to late 2027, and GLXY immediately then gets to work on building out another 500MW+ for AWS/MSFT/GOOG/META.. Not to mention the additional development sites mgmt. has alluded towards. Seems extremely promising. Multiple tenants across multiple sites should translate into a higher multiple.. 20x $2B+ of EBITDA is close to $100/shr (after backing out debt).

It would be much more concerning as someone holding GLXY if HUT didn’t re-rate following the exceptional progress they’ve made. And I’ll be the first to admit that a year ago, I would have put the odds of HUT having 2 hyperscaler leases for $1B+ of EBITDA at zero. Ironically, they probably benefitted from the fact that they were unable to sign a lease in 2024, before the data center market really heat up in the second half of 2025, and HUT CIFR etc. all got their first deals. In any case, HUT’s outperformance seems fair, and hopefully a sign of what’s to come for those that also sign great deals with hyperscalers.

Given the characteristics of the Helios site + Galaxy’s experience and know-how from building Phase I + the breadcrumbs around Galaxy’s procurement of labor (e.g the 1k bed “man-camp” being built by Target) + plus the insane market demand for DC capacity + Galaxy’s mgmt. signaling (“another lease for the 830MW will be biggest de-risking event in company history”, “multiple sites at LOI stage”) + other hints (if you’ve been following Galaxy’s job board or Afton, TX posting in general).. I am very confident they are doing everything in their power to replicate HUT’s execution (and share price performance).

[Mike Novogratz @novogratz]

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[Galaxy @galaxyhq]

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