Crypt0st0ries

🇳🇱 -- Crypto enthusiast since 2017 --
$BTC $GLXY $Tsla

[Crypt0st0ries @Crypt0st0ries]

@sunxliao What do you think about $GLXY?

[Sky @TheSkayeth]

The last time $GLXY flashed a blue diamond, the price rallied +72%.

(Blue diamonds represent big whale buy ins.)

I think we are about to see this blue diamond show again VERY soon while still in the blue/purple zones.

I'll let you know AS SOON AS the diamond appears.

[Duncan @FloodCapital]

$GLXY @ $13.6B market cap (aggressively loading more calls, IMO insanely cheap)

Galaxy has a >$4B balance sheet, assigning ~$9.6B of equity value to the Crypto & Data Center businesses...

In Q3 the crypto business did $500M in net income (part of this was from venture book mark ups) but lets be conservative and say $250M net income that quarter. It was a blow out quarter but if they can achieve this consistently as the crypto market grows it would be $1B/year in net income...

That alone could justify the $9.6B...

Now the Data Center business. They have 800MW of approved power at Helios and another 2.7GW understudy.

For the first 800MW they have contracted it out to $CRWV and will be generating $1.2B/year in average revenues (@ 90% EBITDA margins) ~$1.08B in EBITDA which will be fully online in 2028 (starts coming online Q1 2026).

In addition to that management is expecting another 800MW of power to be approved by EOY. With the fury of deals we've seen with $ALPD, $WULF, $CIFR, and $IREN it seems like big tech is desperate for more power.

If Galaxy can contract this next 800MW out on similar terms to the first 800MW + implement a similar or accelerated timeline we could be looking at >$2.1B in EBITDA by 2028.... (+ the have a large part of the equity component on the balance sheet to fund this build out after their $1.3B exchangeable note raise).

>$2.1B in EBITDA * any sort of multiple 15-25x makes the stock look insanely cheap here + this assigns now value to the remaining 1.9GW they will still have understudy at Helios!

Building out the entire 3.5GW site and leasing it at the same economics as $CRWV would generate Galaxy >$4.5B in EBITDA per year!

In no world does the $13.6B valuation make any sense what so ever.... Especially as these other data center plays are ripping.

I am expecting a rapid repricing on the announcement of the next 800MW + signing a big tech tenant.

[Neil Bhatia @neilsbhatia]

@TheSkayeth $GLXY buy in advance/anticipation. The last report compels and the story warrants. The next move goes materially higher.

[Crypt0st0ries @Crypt0st0ries]

$GLXY

[Beav53 @Beav53]

@TheSkayeth Falling wedge inside mega phone should break up to test upside resistance

[Nicolas Flamel @NicolasFlamelX]

People buying and holding $GLXY since the beginning of the cycle probably outperformed every single person that tried to trade it and I don’t see that changing soon

[Mitchell Martan | TLI @MitchMartan98]

Incase you haven’t noticed yet, $GLXY ‘s management team knows what they’re doing.

[Nicolas Flamel @NicolasFlamelX]

From KavaStocks on Stocktwits:

$GLXY "This offering makes complete sense and is actually bullish if you understand the structure and context.

Galaxy is raising $1.0 billion (potentially $1.15 billion with the greenshoe) through exchangeable senior notes due 2031. These aren't convertible bonds in the traditional dilutive sense. They're exchangeable notes where Galaxy can choose to settle in cash, stock, or a combination at their discretion. The exchange happens at Galaxy’s option, not forced conversion.

The company just posted $505 million in net income and $629 million in adjusted EBITDA for Q3 alone. They have $1.9 billion in cash and stablecoins on the balance sheet. They secured a $1.4 billion project financing facility that fully funds Phase I of Helios. They just got a $460 million strategic equity investment from a major asset manager. The balance sheet is fortress-level strong with $3.2 billion in equity.

So why raise another $1.0 billion through debt? Because the opportunity set is massive and the cost of capital is cheap relative to the returns they can generate. They explicitly state the proceeds will "support growth across its core operating businesses" and may include refinancing their existing 2026 notes. Translation: they’re term-extending their debt maturity profile while rates are still reasonable and using the capital to accelerate growth initiatives.

The structure is favorable. Notes don't mature until 2031. They're not callable until November 2028, and even then only if the stock is trading at 130% or more of the exchange price for a sustained period. That means Galaxy locks in long-term capital at what will likely be a low single-digit coupon given current market conditions and their credit profile, and they only face dilution if the stock absolutely rips higher.

Think about the context: CoreWeave has committed to the full 800 MW at Helios with revenue expected to exceed $1.0 billion annually across 15 years. They have 2.7 GW of additional power under study for expansion. The digital assets business is printing money with record trading volumes. Asset management pulled in $2.0 billion of net inflows in Q3 alone. GalaxyOne just launched to capture retail market share.

They're raising capital from a position of strength, not desperation. Companies raise debt when they have visibility into revenue-generating opportunities that will produce returns exceeding the cost of capital. Galaxy sees a massive buildout opportunity in AI infrastructure, continued growth in digital assets, and expanding asset management flows. They're using cheap debt to fund growth without meaningfully diluting shareholders, while maintaining the flexibility to settle in cash if the stock performs well.

The timing also makes sense. They just printed record earnings and they likely got favorable pricing on the deal. The $1.0 billion raise is meaningful but not overwhelming relative to their $3.2 billion equity base. It's accretive leverage if deployed into Helios expansion or growth initiatives that generate the kinds of returns they're seeing in the core business.

Does it increase financial risk? Marginally, but from an extremely strong starting position. Does it create near-term dilution? No, not unless the stock goes parabolic and they choose to settle in shares. Does it fund growth that compounds shareholder value? Almost certainly, given the contracted revenue pipeline and execution track record.

This is exactly the kind of financing you want to see from a growth company with a fortress balance sheet and massive opportunity set. They're levering up intelligently to capture market share while competitors struggle with capital constraints."

[Crypt0st0ries @Crypt0st0ries]

$GLXY

[Ryan @fusco_financial]

$GLXTY daily looking crazy

[Crypt0st0ries @Crypt0st0ries]

@galaxyoneapp @galaxyhq Delivering fast, you must be so proud of your Team at Galaxy!

[Mike Novogratz @novogratz]

Today, we launch GalaxyOne. The next step in bringing Galaxy’s institutional strength to individual investors. Proud of the team. Big things ahead as we expand our reach and unlock the next phase of growth.

[Crypt0st0ries @Crypt0st0ries]

@StockSavvyShay @FuturumEquities $GLXY makes them look like peanuts

[Crypt0st0ries @Crypt0st0ries]

@wliang And $GLXY ofcourse

[Crypt0st0ries @Crypt0st0ries]

@ncbtrades Thats an amazing $GLXY bull 🙌

[AuxReignots @Reignots]

If a REIT shell with 5,000 leased acres and zero functional assets is worth $20B, what is 800MW contracted, 800MW imminent, 3.4GW total, and the Goldman Sachs of crypto worth? Certainly more than $12B… @novogratz $GLXY $FRMI

[Nicolas Flamel @NicolasFlamelX]

$50 CAD is an all time high if you’ve been following and holding https://t.co/GW53sNfikg for years

But look at this chart… price discovery has yet to happen

All eyes on $GLXY

[Sky @TheSkayeth]

$GLXY #GLXY closing the month strong.

1. Closed outside bollinger band.
2. Closed above 0.886 fib level.

Government shutdown aside, this might be setting up for $80-120 by end of year.

[Cantonese Cat 🐱🐈 @cantonmeow]

$GLXY closed the month back above 0.886 which favors pushing to new highs soon.

[Yano 🟪 @JasonYanowitz]

NEW POD

The man the myth @novogratz

1) Are markets frothy
2) Running a public company
3) Galaxy’s AI opportunity
4) Tokenizing Galaxy stock
5) The IPO window
6) The art of trading

And importantly, how to raise kids who aren’t spoiled.

Enjoy my friends.

[Duncan @FloodCapital]

$GLXY