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Not long ago, a bitcoin mine. Today, Helios is an operational AI data center. First data hall delivered to CoreWeave at Helios — Galaxy's data center campus in West Texas, approved to support up to 1.6GW of capacity and one of the largest developments of its kind in North...

1,822,996 次观看 • 3 个月前 •via X (Twitter)

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Galaxy plays landlord to the largest single data center in America and the rent just started flowing (save this). "It's the largest single campus data center in America, 1.6 gigawatts. We've already leased out half of that." - CEO, Mike Novogratz. The opportunity = the vast majority of the investing world still sees Galaxy as a crypto trading firm (and that misunderstanding makes the trade). Phase I of the Helios campus in West Texas is complete: 200MW of gross power delivered, 133MW of critical IT load handed to CoreWeave, on budget and on schedule. Rent commenced in Q2 2026, which means Helios revenue hits the P&L as early as next earnings report. That will be the first time Wall Street sees this cash flow in actual reported numbers instead of projections. And the full CoreWeave commitment runs well beyond Phase I. CoreWeave has committed to 526MW of critical IT load across Phases I through III, on 15-year leases with two five-year extension options, expected to generate over $1 billion in average annual revenue. Phase II, another 260MW, is already in greenfield development with data hall deliveries targeted for the first half of 2027. This business model is the part the market is yet to process. Galaxy builds the shell and delivers the power, then hands the building to the tenant, who installs their own chips. Galaxy never buys a single GPU, never takes hardware depreciation risk, and collects contracted rent for 15 years. (That's insane.) Novogratz says this business is probably worth more than half of Galaxy's value today, and it barely existed on the income statement until this quarter. The location is a moat of its own. Helios sits in the middle of nowhere in West Texas, with spare electricity, no community friction, and no noise complaints (all while data center politics turn hostile in nearly every other state). The runway behind it is enormous: over 2,200 acres, approved capacity expanded to 1.63 gigawatts, with the potential to scale to 3.6 gigawatts. So let's stack the catalysts... Half the campus is already leased, and Novogratz expects the full 1.6 gigawatts leased out by the end of summer. The next tenant announcement comes from a position of proven execution, because CoreWeave signed when Galaxy still had to prove it could build, and the on-time delivery changes that negotiating leverage entirely. Galaxy is now a contracted power landlord for AI compute with a crypto business attached, and the stock moved just 3.3% on the news, on a day the Nasdaq was already up 1.4%. Long story longer: the market has not done the work yet. Our PRO team called $HYPE (+55.8%), $HOOD (+63.7%), and $MU (+217%), all before they ran. They've been doing the same with $GLXY (and are continuing to buy). Don't miss their next entry. Milk Road PRO is 33% off for the next 7 days. (That’s 33% off monthly and annual plans for the next year.) Join Milk Road PRO - link in bio: Milk Road

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39,268 次观看 • 1 个月前