Galaxy Digital: An Undervalued AI Infrastructure Target, Market Misjudgment Creates Investment Opportunities
The current market still views Galaxy Digital (GLXY) as a cryptocurrency company, overlooking the core fact that it has successfully transformed into an AI computing power infrastructure operator.
This perceptual gap constitutes a significant investment opportunity.
▋ Core of Transformation: AI Power Giant
Galaxy's Helios supercomputing center has 800 megawatts of approved power and can be expanded to 3.5 gigawatts, becoming an important partner for AI giants like CoreWeave.
Power is a scarce resource in the AI era, and Helios occupies a leading position due to its scale and locational advantages.
▋ Valuation Undervalued: AI Business Supports Current Price
It has a 15-year long-term agreement with CoreWeave, with expected annual revenue of $720 million and an EBITDA margin of 90%;
The basic valuation of Helios alone has reached $24 per share, which is on par with the current stock price;
This does not yet account for its traditional cryptocurrency business (which is still profitable) and future expansion potential.
▋ Three Major Advantages, Distinguishing from Ordinary Mining Company Transformations
Financial Stability: Net cash exceeds $1.8 billion, with no significant debt;
Strategic Focus: Completely exited Bitcoin mining, fully committed to AI infrastructure;
Reliable Execution: Management has extensive experience in infrastructure delivery.
▋ Expectation Gap Will Drive Value Reassessment
As Helios's subsequent capacity comes online and more tenants sign contracts, the market will gradually recognize the value of Galaxy's AI infrastructure.
The current stock price does not reflect the substance of its transformation; reassessment is merely a matter of time.
