Data Centre Danny retweeted
$GLXY Right now in Dickens County the crews are working. 133 MW is live and drawing power. The rent gets paid whether or not anyone on this app is having a good week. Phase II has both buildings going up and the substation on schedule. None of that stopped on Friday when the chart broke.That's the part worth holding onto when the screen is red.
You don't own a line on a chart. You own a piece of 2,200 acres in West Texas with a 345 kV substation on it, a fifteen-year lease, and 830 MW of approved power that management decided was worth too much to hand over cheap.
The price is a daily vote. The asset is a fact.
It might get worse before it gets better. And But 4 years ago this was a bitcoin mine and a trading desk and today it's a campus delivering critical IT load to one of the biggest AI companies in the world.
And while everyone argues about whether the crypto side is a distraction; last week @galaxyhq applied for a national trust bank charter and it's building digital asset infrastructure for BNY, who custody $62 trillion. Assets under stake are up 64% in a quarter.
They're still building. So am I.
Rome was not priced daily.
Data Centre Danny retweeted
In today’s AI buildout everyone has been diluting shareholders with equity raises and convertible notes. I am only aware of one company ($GLXY) who has been actively buying back their stock this year. They exhausted the $200m buyback earlier this month and the board authorized another $200m program.
This says i) Galaxy is well capitalized with a strong balance sheet and ii) they believe their stock is not trading at fair value and have drawn a line in the sand.
If you can’t understand the asymetric trade here and are one of the 35m shares short I can’t help you.
I’m anticipating a number of insider purchase disclosures in the coming weeks as well.
Long and strong 💪
Data Centre Danny retweeted
$GLXY is a fat pitch here. data center stuff will continue mature, and the value will continue to become more obvious, and accrue to those willing to invest now, as milestones are passed. Helios is a phenomenal asset, and they stole it, got control, and own it for peanuts. at the end of the day that one investment is what will enable a series of long term financial wins. the team that is executing on this asset is very solid. the tailwinds on crypto, dollar debasement, will continue to allow a melt up of all that they own and control and are building. the best part is you are well aligned, they have skin in the game right along side you. the $CRWV situation will inform future decisions, and im willing to bet, the future deals they sign will be with even more clear line of sight to the cash flow. In any event. great job on that call. they took questions for over an hour. the haters and fear fud spreaders are alive and well, and u need them to have a great return. i understand why $GLXY equity got smashed 50% in the past month, but its a great oppy. normally you cant buy assets of this quality in a nice liquid format like this. officially on the Helios bandwagon.
Data Centre Danny retweeted
$GLXY today $15 is helios at half (ish) price, and the rest for free, according to my "analyst" claude. Claude is not good at drawing conclusions. but if you give him the right filings to read he can sorta cobble together some stuff. $CRWV print be a caty for $GLXY too. imagine if that goes "better than feared" somehow
Data Centre Danny retweeted
$GLXY @galaxyhq #GalaxyDataCenters #Helios
Guys, one present from me to you ahead to the ER tomorrow.
Galaxy has registered HEL05 (133MW critical, last tranche to $CRWV) with the Texas Comptroller. This means Galaxy works currently on three 133MW data center facilities at the same tame. No slack, maximum efficiency💪
I expect a filing with the TDLR within the next few weeks. Stay tuned.
$GLXY @galaxyhq #GalaxyDataCenters #Helios
Based on my research and sauces I can say with confidence that the current construction progress on HEL03 and HEL04 is in time with the time schedule, probably even ahead of schedule.
Regarding HEL03 the ground foundation work for diesel gens and chillers is currently at a very advanced stage. I expect the concrete work to start within the next few days, probably they have already begun with that.
Will all of this be a factor to save the earnings report? TBH, probably not - but it does calm my mind a little bit.
Tomorrow I will post e a new DD post regarding the construction progress, which will contain a little positive surprise. Stay tuned 🤝
Stay safe fellas!
Data Centre Danny retweeted
$GLXY Galaxy has been very proactive in their acquistion of mineral rights waivers including these 28 in the last year in Dickens county alone for Helios. Their team in Afton lead by @austorms is top notch. Contrast this with other companies who claim to be building in west Texas but have no such filings give you an idea of who's really building and who's pretending.
@grok how does @galaxyhq fare based on this analysis? Will @novogratz and team be able to execute on time?
Data Centre Danny retweeted
$GLXY
Let me add more context to this thesis, which could still be wrong (!):
During construction of Phase 1 a PUE of 1.4 was assumed and therefore contracted as that with $CRWV (see screenshot 1).
But on the S&P global bond rating for Phase 2 (HEL03 & HEL04) it was identified that the current PUE is 1.27 (see screenshot 2).
If the updated PUE of 1.27 could be applied to the full 800MW interconnect of the Cottonwood switching station, Galaxy could have more MWs of critical load which could be leased as well.
Please retweet this post in order to increase the likelyhood that analysts who cover $GLXY see this. There might be a chance this issue will be addresed on Tuesday's earnings call. Thank you for your support.
$GLXY
Getting extra MW (critical load) based on a PUE drop (efficiency gains) is indeed possible. This might also explain why Galaxy has skipped the HEL02 data hall for now. They skipped it on purpose in order to use all "extra critical load MWs" for this particular data hall
Data Centre Danny retweeted
Mastercard, Stripe and Coinbase have all paid billions for crypto plumbing. Galaxy owns one too.
Look at the price tags. Mastercard closed its BVNK deal in August for up to $1.8B. Stripe paid $1.1B for Bridge. Coinbase paid $2.9B for Deribit, and Ripple paid $1.25B for Hidden Road. This week Visa was reported to be in talks for Fireblocks at about $2.5B, which Fireblocks denies. Big payment companies and banks keep paying $1-3B for crypto infrastructure with recurring fees and institutional clients.
Now apply that to Galaxy. Leave Helios out, and Galaxy still runs a trading and lending desk with over 1,700 counterparties, plus $7.1B in assets it manages or stakes. BlackRock and Morgan Stanley both picked it as a validator for their staked ETH funds, and BNY signed it up as a design partner for staking. Last quarter, that business made about $66M in gross profit, about $17M of it from fees, staking, and custody.
Here's where it gets interesting. Run that business for a full year, and it makes roughly $160-195M of gross profit from trading and lending, plus about $70M from fees, staking, and custody. Put about 5x on the trading side and 8x on the fee side, in line with the deals above, and you get roughly $0.8-1B plus about $0.55B. That's about $1.3-1.5B in total.
One broker says the stock gives the crypto business "effectively no value", because everyone is staring at the data center campus.
For context, they still bled $9M last quarter and crypto deal flow slowed in Q3. But earnings hit Tuesday, and I’m betting the crypto segment finally turns profitable and catches the market off guard.
Galaxy is still my largest position on Milk Road PRO. See my portfolio here: link.milkroad.com/Martin
Galaxy fell 30% in two weeks on CoreWeave fears. It now costs less than one of its data centers alone.
What are you truly getting for today’s price?
Let’s break Galaxy down to the bones: what you’re actually paying for, what Helios is worth on its own, and what that leaves for the rest of the crypto operation. We’ll start with the price.
Market cap: ~$6.1B
Plus debt: ~$6.9B
Plus building Helios Phase III: ~$2B (my estimate, not raised yet)
Minus cash and stablecoins: ~$2.5B
Minus its crypto holdings: ~$1.4B
That's ~$11.3B for the business and what it's building.
Next: what that ~$11.3B buys. 🧵
Last time I played golf with @ncbtrades it was 25 days ago
$GLXY trading at $25
We are -40% since that round
We are rocking again tomorrow….
What will the $GLXY price be in 25 days?
Data Centre Danny retweeted
Digital assets aren’t disrupting finance.
They’re being integrated into it.
Custody → clearing → lending → derivatives → infrastructure.
And $GLXY is at the forefront.
Golfing with @ncbtrades tomorrow
Both gonna shoot low while figuring out the next 100x
Shorts are in trouble
$GLXY
$CYPH
