Galaxy Digital Valued at $9.3M per MW as Texas Helios Campus Gains Power Approval
Rosenblatt assigns Galaxy Digital an EV of $9.3 million per active megawatt, ranking it above Hut 8’s $5.2 million and below Cipher’s $9.8 million. Galaxy’s Helios data center campus in Texas secured additional ERCOT-approved power capacity in January.
1. Rosenblatt EV Valuation
Rosenblatt analyst Chris Brendler values Galaxy Digital at $9.3 million enterprise value per active megawatt, positioning it above Hut 8’s $5.2 million and below Cipher’s $9.8 million in peer rankings.
2. Helios Campus Power Approval
Galaxy’s Helios data center campus in Texas received ERCOT approval for additional power capacity in January, bolstering its infrastructure for AI/HPC workloads.
3. Pivot to AI/HPC
The analyst note highlights a broader industry shift from cryptocurrency mining to AI/HPC development, which offers long-duration cash flows and higher margins compared to SHA-256 mining operations.