Stock jumps on Helios leasing update Galaxy Digital ($GLXY) shares surged on Monday, combining a broader crypto market recovery with fresh optimism over the company's pivot toward AI data cen
Galaxy Digital ($GLXY) shares surged on Monday, combining a broader crypto market recovery with fresh optimism over the company's pivot toward AI data center infrastructure. Shares were up roughly 17.88% at $29.63 at the time of publication, according to Benzinga Pro data.The total crypto market cap gained 2.81% to reach $2.19 trillion, with Bitcoin pushing up 2.58% and Ethereum gaining 2.99%, compounding the bullish momentum for digital asset equities.
Speaking on All Things Markets with Anthony Scaramucci, Galaxy (@galaxyhq) founder and CEO Mike Novogratz (@novogratz) said the company expects to have the entire 1.6 GW Helios campus leased by July 4, or by the end of the summer at the latest.Galaxy is building what is expected to be the largest single-campus data center in America.
Galaxy Digital has officially delivered its first data center hall at the Helios campus in West Texas to AI hyperscaler CoreWeave, providing the company with a new $1 billion-plus revenue stream from a long-term AI compute lease expected to pay out over 15 years.CoreWeave has committed to the full 800 MW of approved power capacity at the Helios datacenter campus.
Galaxy closed a $1.4 billion project financing facility to support the continued development of the Helios campus, with the debt facility fully funding the initial retrofit and expansion to deliver the first phase of power for AI and high-performance computing operations under its long-term agreement with CoreWeave.
In addition to the 800 MW of gross power capacity already approved at the current Helios substation, Galaxy has an incremental 1.7 gigawatts of power capacity under various stages of load study, allowing the company to expand its capacity to support additional AI and HPC data center infrastructure. That puts the site's total potential capacity at around 3.5 GW, according to the company.
A separate catalyst also emerged Friday, when Morgan Stanley Wealth Management and Galaxy announced a new referral capability under which eligible clients can lend cryptocurrency directly to Galaxy and receive shares of spot crypto exchange-traded products, including the Morgan Stanley Bitcoin Trust.
Sources:Benzinga: Why Galaxy Digital Stock Is Surging On MondayYahoo Finance: Galaxy Digital Delivers First AI Data Center at Helios CampusPR Newswire: Galaxy Closes $1.4 Billion Project Financing Facility
