The company secured approval for an additional 830 megawatts of power at its Helios data center campus in Texas and completed its first-ever tokenized collateralized loan obligation.
- Galaxy said that ERCOT approval effectively doubles the data center’s capacity, taking it to over 1.6 gigawatts.
- Construction is underway under the company’s long-term lease with CoreWeave, with initial power delivery expected in early 2026.
- The company also announced the completion of its first-ever tokenized collateralized loan obligation, Galaxy CLO 2025-1, on the Avalanche blockchain platform.
Galaxy Digital Inc. (GLXY) stock jumped 10% on Thursday as investors reacted to two major developments, including an approval for an additional 830 megawatts (MW) of power at its Helios data center campus in Texas, positioning the company for significant expansion in AI and high-performance computing infrastructure.
The stock is on track to close in the green for a fourth successive session. GLXY was also among the top trending tickers on Stocktwits at the time of writing.
ERCOT Approval
Galaxy said that the approval by the Electric Reliability Council of Texas (ERCOT) effectively doubles the data center’s previously approved power capacity, taking it to over 1.6 gigawatts (GW).
Galaxy signed a service agreement with AEP Texas for the new capacity, with Wind Energy Transmission Texas (WETT) serving as the transmission interconnection provider.
The company said that construction is underway under the company’s long-term lease with CoreWeave, with initial power delivery expected in early 2026. Galaxy added that it is exploring additional power and land opportunities in Texas and beyond.
Tokenized CLO Execution
In a separate release, the company announced the completion of its first-ever tokenized collateralized loan obligation (CLO), Galaxy CLO 2025-1, on the Avalanche blockchain platform.
The CLO supports a flexible credit line for Arch Lending, a crypto-backed consumer loan platform. It gradually buys loans backed by Bitcoin, Ethereum, and other crypto assets, and can grow up to $200 million as more loans are issued.
“By uniting our strengths in debt capital markets, blockchain technology, and asset management, we’re opening a new avenue for institutional engagement in credit markets—one that benefits from greater efficiency, transparency, and expanded collateral flexibility through onchain execution,” said Chris Ferraro, President and Chief Investment Officer at Galaxy.
Retail Reaction
Retail sentiment on Stocktwits trended in the ‘extremely bullish’ territory at the time of writing, while message volumes were at ‘extremely high’ levels.
One user was bullish about the ERCOT approval, stating it gives Galaxy a major advantage in AI and HPC infrastructure.
Another user saw the power expansion news as “massive” and expects the stock to climb to $50, a near 40% upside to the current price of $30.4.
Over the past year, GLXY stock has gained over 60%.
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