Novogratz anticipates that there’s going to be a “big fight” over who will be providing digital services to a tokenized world are policy regulations take shape in the U.S. and globally.
Galaxy Digital (GLXY) CEO Mike Novogratz said the digital asset company must be “radically different” by 2030 as it aims to become a dominant player in both on-chain credit and global data infrastructure.
“If we’re not a radically different company by 2030, we will have lost,” he told Stocktwits.
He anticipates that there’s going to be a “big fight” over who will be providing digital services to a tokenized world are policy regulations take shape in the U.S. and globally. “We’re gonna do on-chain credit. We better win on-chain credit,” he said.
Novogratz cited the recent regulatory developments as a turning point. “Banks can’t not bank us just because we’re crypto,” he said, calling this a “green light” moment for institutional participation.
Galaxy Digital’s stock edged 0.33% lower in afternoon trade. However, on Stocktwits, retail sentiment around the company was in the ‘bullish’ territory.
Other than “winning” on-chain, Novogratz said the plan is to make Galaxy Digital one of the biggest providers of data center services in the world. Its physical infrastructure already includes up to 3.5 gigawatts (GW) of data center capacity being developed near its Helios facility in Texas.
He added that Galaxy Digital bought another 1 GW of capacity, but is waiting on approval from the authorities in Texas. “Assuming they approval all of it, which we think will happen in time, we’ll be a top 3 data center in the world, size wise,” he told Stocktwits.
Novogratz said the company won’t be buying any more land until after the pending approvals come in. “But we’re also looking at other places. At one point you want some geographic diversification,” he said, explaining that the company’s second quarter (Q2) revenues next year will be a good signal to judge whether the data center segment is a growth business.
Galaxy Digital reported Q2 results on Tuesday, with earnings per share (EPS) of $0.08 on $9.06 billion in revenue, missing Wall Street expectations of $0.15 per share and $12.51 billion in revenue. However, Novogratz noted that July was the company’s strongest month ever touting the addition of nearly $2 billion in fee-generating assets and the execution of a single $9 billion crypto trade — performance not captured in the Q2 results, which ended in June. “Crypto got its legs, literally in July,” Novogratz said.
He pointed to the rise of treasury companies trying to replicate Strategy’s (MSTR) balance sheet model for the inflow. Novogratz said the company saw strong institutional demand for both staking and structured crypto products, which he believes could become a long-term source of recurring revenue. “It will grow if the crypto prices and these balance sheets grow,” he said.
So far in 2025, Galaxy Digital’s stock has gained more than 56%. Over the past 12 months, the stock has jumped nearly 230%.
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