Galaxy Digital Highlights $65M Buyback and Helios 800MW Capacity Ramp
GLXY•Galaxy Digital repurchased $65 million of stock under a $200 million authorization, signaling management’s view that its crypto and AI data-center operations are undervalued. The Helios campus is generating initial revenue, with phase one set to complete by end-Q2 and up to 800 megawatts of capacity coming online next year.
1. Management Emphasizes Undervaluation
Galaxy Digital executives argue the market misprices the company by separating its crypto and data-center units rather than viewing them as a unified business. CEO Mike Novogratz highlighted underappreciated growth potential in AI infrastructure and future crypto regulatory tailwinds as key value drivers.
2. $65M Share Repurchase
CFO Anthony Paquette noted that Galaxy repurchased $65 million of Class A shares in Q1 under a $200 million buyback program designed to offset dilution from stock-based compensation. Management views the buybacks as evidence that shares trade below intrinsic value while maintaining balance-sheet flexibility.
3. Helios Campus Revenue Ramp
The Helios data-center campus in West Texas has begun generating revenue following the delivery of its first data hall, with phase one on track for end-Q2 completion. Phases two and three are expected to add up to 800 megawatts of gross power capacity next year, with approvals for over 1.6 gigawatts on site and a 1.8-gigawatt pipeline under evaluation.
