Galaxy Digital (NASDAQ:GLXY) may have stumbled into one of the most lucrative AI infrastructure deals in the sector after acquiring the Helios mining facility from distressed Bitcoin (CRYPTO: BTC) miner Argo Blockchain.
The $4.5 Billion Deal, But Identity Crisis In an X post on June 23, investment firm Arca's Chief Investment Officer Jeff Dorman highlighted that Galaxy's transformation accelerated after it signed a 15-year hosting agreement with CoreWeave (NASDAQ:CRWV) valued around $4.5 billion.
CoreWeave has since exercised expansion options that utilize the site's entire currently approved 800 MW power capacity.
Galaxy expects the facility to generate more than $1 billion in annual revenue on average over the contract term, with lease-level EBITDA margins approaching 90%.
Despite the Helios success, Galaxy’s stock has significantly lagged other AI infrastructure and HPC-focused companies.
