$GLXY
Alright folks, hear me out. You know how they guided signing a lease some time by the end of the year because this power was for 2028, and that Hyperscalers are still focused on earlier power?
The only reason I can think of for $GLXY to sign so quick, is because the terms they received for this lease must be absolutely insane. There's no other reason why Galaxy wouldn't otherwise just wait it out. Just speculation though
A quick recap on Galaxy Digital's $GLXY Helios data center campus:
- 1.63GW (gross) of fully ERCOT approved, front-of-the-meter power.. An incremental 1.8GW sits in ERCOT's approval queue, which if approved as expected, would scale the site to 3.4GW... "The largest single campus data center in America:"✅
- 800MW gross, 526MW IT load contracted to CoreWeave for $1B+ of annual revenue over a 15 year lease, with the first phase of the project on-time, on-budget, and now generating revenue (execution chops:✅)
- 830MW gross, ~550MW IT load to be leased out "by the time Fourth of July comes around, or certainly by the summer ends" (tenant diversification: 🔜)
- 1,500 construction workers currently on-site, which "will max out to 2,500" (labor procurement: ✅)
- Located in Afton, TX, a remote town with a population of only ~200 people.. "Very business friendly.. a part of the country, and a part of Texas, where you can build data centers without a lot of community problems. We're in the middle of nowhere, we got lots of spare electricity out there, so were not driving electricity prices up for the local community... (no) noise pollution. Texas is one of the best places for data centers, (and) we've looked at other cities, and states." (optimal location: ✅)
"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