Scarce power available for 2028 delivery and rising demand for that capacity favor Galaxy Digital, IREN and Cipher Mining. XCapitalMgmt highlights Galaxy management's report of delayed competing projects, stronger demand from hyperscalers and AI firms for 2028 capacity, and more selective financing. Galaxy has over 800 MW secured at Helios II but is still evaluating tenants and deal terms. x.com 

Galaxy Digital may be the market's most undervalued stock because its $6.5B value overlooks Helios I's contracted rent and $6.6B in cash, Treasuries, digital assets and investments. Its first full Helios I Phase I quarter delivered $69M of data-center adjusted EBITDA. Novogratz said Galaxy rejected a Helios II lease as power tightened; a higher-priced tenant is still prospective. Galaxy expects $800-850M in annualized leasing by end-2027, and the stock should quickly reach $30+ by year-end. … Show more

Contracted AI compute demand makes four AI infrastructure stocks worth buying at 52-week lows. Applied Digital has a $36B backlog and expects 600+ MW online within 12 months; Cipher Mining has $8.5B+ in AI leases with payments ramping; CleanSpark has a 20-year $6.6B lease and 1.8+ GW power portfolio; CoreWeave has a $104B backlog and raised its year-end ARR target to $18.5-19.5B. x.com  x.com 

Galaxy Digital's landlord position gives it a meaningfully higher floor than CoreWeave as a way to bet on a CoreWeave rebound. Even if CoreWeave restructures, an energized ERCOT lease is one a debtor would fight to keep; in the worst case, Galaxy still owns the land, buildings and grid interconnect. Galaxy is noisier quarter to quarter, but CoreWeave carries more risk of permanent capital loss. x.com 

Galaxy Digital's Helios leases are becoming operating capacity, supporting its AI infrastructure opportunity alongside institutional digital assets. It has delivered 133 MW of critical IT capacity to CoreWeave and contracted 526 MW across three 15-year phases, with about $1 billion in anticipated annual lease revenue once fully delivered. CoreWeave's widening credit spreads and Galaxy's exposure to that customer remain risks; a breakout above resistance in the $30s is still conditional. x.com 

Applied Digital's AI and high-performance computing data centers could expand substantially as demand grows. It is a high-risk upside bet: construction costs, financing needs and dependence on large customers could impede that expansion. x.com 

Galaxy Digital's emerging AI infrastructure business is the real story, yet most investors still see it as a crypto company, leaving the disconnect rarely wider. It is developing 1.6 GW of data center capacity, and CoreWeave is a key part of the thesis, adding another layer of upside. An announcement of a signed data center tenant could be a near-term catalyst. It is a buy on every pullback. x.com 

Deep drawdowns and extreme pessimism are making the long-term risk/reward more attractive for AI-infrastructure names such as Cipher Mining, CoreWeave, Eos Energy, Galaxy Digital, IREN Limited and T1 Energy. After 50-90% drawdowns, many trade at bear-market discounts and near major support, making downside easier to define. This depends on believing their long-term fundamentals and growth; not every name will be a winner. x.com  x.com 

Galaxy Digital is in no man's land as a stock for now. Its core trading business probably breaks even, worth maybe $5 a share, its CoreWeave HPC deal still has a long ramp before cash flows arrive, and its approved Texas capacity has only 50/50 odds of getting power assigned, so hyperscalers won't commit. That tempers @SimonSaysBTC's math on Helios, including about $1.2B of annual revenue from the 800 MW CoreWeave contract. x.com 

Galaxy Digital is shifting from a pure crypto play to an AI data center stock, which could earn it a tech valuation and insulate it from crypto swings. It is repurposing low-cost mining power at its 1.6 GW Helios campus in Texas into high-margin AI and HPC capacity. Its full digital asset business, from trading and advisory to asset management, staking and tokenization, collects tolls from institutions entering crypto. Mark-to-market swings had pushed its price-to-sales ratio near 0.07. x.com