GM. This is Milk Road PRO – your portfolio’s best friend!
(Like ‘save a seat for you at lunch even though the table is nearly full and the cafeteria is packed’ kinda best friend.)
Are you bullish on crypto? Great, so are we.
But let’s be honest: picking the winning tokens is tough.
Will it be Bitcoin? Ethereum? Maybe something newer like $HYPE or a wildcard like $XRP? No one really knows.
That’s why getting exposure to a group of top tokens, all in one move, could be a smart idea.
What if I told you there’s a publicly traded company that lets you do exactly that?
And this same company also runs a range of revenue-generating services that aren't tied to daily price swings — think custody, staking, lending to institutions, and more.
Oh, and get this...
This company is also tapping into one of the biggest tech shifts of our time – Artificial Intelligence – by building one of the world's largest data centers to power the AI wave.
👉 So they’re not just offering big upside in crypto — they’re also positioned to ride the explosive growth of AI.
Sound like an investment you might be interested in?
Good – in that case, we won’t keep you guessing any longer: the company is Galaxy ($GLXY).
And here's their chart.
$GLXY has been on fire lately, up nearly 200% since April – and after a run like that, today’s pullback might just be the breather it needed.
But zoom out and the bigger picture starts to feel oddly familiar.
Two big peaks in 2021…a rough crash in 2022…then a quiet, sideways 2023…followed by a slow climb in 2024, building momentum to go after all-time highs in 2025.
It’s almost a mirror chart of the overall crypto market cap. Coincidence? Maybe…maybe not.
👉 That kind of pattern suggests most people still treat this stock like a straight-up crypto bet. But that’s no longer the case and it’s exactly where the opportunity lies.
To figure out whether this is truly a good opportunity or not, we’ll be diving into:
- Why Galaxy struck a jackpot back in 2022
- Why every bitcoin miner is eyeing a pivot to AI data centers
- What gives Galaxy the edge over the big players
- How they locked in a tenant paying $1B a year for the next 15 years
- What we see ahead for their crypto business
- And finally – our price prediction
We’re here to take you through the full story of our research.
You'll see how we look at this company and get all the key info you need to decide whether or not you want $GLXY in your portfolio.
And stay with us — there's something spicy waiting at the end.
Let’s start with a quick look at Galaxy.
GALAXY INTRODUCTION
Galaxy Digital ($GLXY) was founded in 2018 by Michael Novogratz, a former hedge fund manager at Fortress Investment Group, and a well-known Wall Street investor.
It started out as a merchant bank focused on crypto and blockchain technology, then expanded into trading, asset management, venture capital, and now data center infrastructure for AI and high-performance computing (HPC).
Galaxy was first listed on the Toronto Stock Exchange (TSX) in August 2018 under the ticker $GLXY.
But in May 2025, Galaxy completed a direct listing on Nasdaq (also ticker $GLXY) – and since that’s where the biggest players and the majority of capital are, it makes a huge difference.
These are some of the key numbers that define Galaxy’s business today:
- 🌐 Market Cap: ~$9.3B
- 🌍 Employees: 600+ worldwide
- 💰 Balance Sheet: ~$2.1B (in digital assets, excluding stablecoins and cash)
- 📈 Q2 2025 Profits: $211M
- 🏦 Assets Under Management (AUM): ~$9B
- 🤝 Institutional Clients: 1,400+ served
- 🏦 Institutional Loans: $1.1B issued
- ⚡ Data Center Capacity: 800 MW approved for their data center
If you're not sure what all the numbers mean or why they matter, no stress. We’re going to break them down in detail.
But at a high level, Galaxy’s business is split into three main areas.
1/ The Balance Sheet: This is basically what Galaxy owns. Right now, their assets (mostly crypto like $BTC, $ETH, $SOL, etc…) are worth around $2.1 billion. If crypto prices keep rising, that number will go higher as well.
2/ Digital Asset Operations: This is the core of their crypto business. It includes things like trading, lending, asset management, custody, blockchain validation, staking, and more.
3/ AI Data Center Business: Galaxy is doubling down on this part of the business. Their plan is to expand data centers tailored for AI and lease them out to hyperscalers.
Not sure who hyperscalers are? Don’t worry — we’ll walk you through their role in the AI supply chain in just a moment.
And since the AI data center business is the most exciting piece, let’s dive into that next.
GALAXY’S PIVOT
Before we get into how this business works, we have to tell you a funny story about how this whole pivot happened almost by accident.
Back in 2022, Galaxy was looking to expand into Bitcoin mining. And it was around the time when Bitcoin was crashing.
So they found one Bitcoin mining company that was in serious trouble, facing bankruptcy, and looking for a way out.
Galaxy stepped in and bought their data center, Helios, for $65 million.
The deal officially closed in December 2022. Why does that timing matter? Because OpenAI launched ChatGPT just a month earlier, in November 2022.
And back then, they weren’t even thinking about turning that Bitcoin mining operation into an AI data center.
But as AI adoption accelerated and the world began running into an energy crunch to power these massive models, the idea of pivoting became harder to ignore.
Studies show that operating an AI data center is 6 to 9 times more profitable than running a Bitcoin mining operation — and that doesn’t even include the far greater scaling opportunities.
Bitcoin mining is unpredictable at best. Everything depends on forces outside your control: Bitcoin’s price, the halving cycle every four years, and the global hash rate. It’s a constant rollercoaster.
Data centers, on the other hand, are steady and predictable. Selling space and energy access makes forecasting revenues far easier, and it opens the door to secure financing for future growth.
For Galaxy, the decision was obvious: pivot into AI and high-performance computing data centers.
So when CEO Mike Novogratz talks about hitting the jackpot, he’s really pointing to the Helios deal — scooping it up at just the right time and at a bargain price.
Because as you’ll learn later in this report, Helios is truly a hidden gem.
We also mentioned hyperscalers and the AI supply chain earlier but haven’t explained any of it just yet — so let’s clear that up.
AI DATA CENTER BUSINESS
The AI data center business is quickly becoming the obvious path forward — not just for existing Bitcoin miners, but for new entrants and established players who are eager to grab a share of this fast-growing, highly lucrative market.
There’s a great diagram that lays out the entire chain of this market, making it much easier to understand how everything connects.
At the very top, you’ll find AI apps — the front-end tools we all interact with, like ChatGPT.
Behind those apps are large language models (LLMs), like the one built by OpenAI that powers ChatGPT.
But running or training these models takes serious computing power. That’s where cloud computing comes in, provided by massive tech companies known as hyperscalers.
These hyperscalers buy high-performance GPUs from Nvidia to handle the heavy lifting.
To run those GPUs, they either rent space in data centers or build their own.
And to keep everything powered, data centers work directly with utility providers to supply the energy needed for all those chips and servers.
So now you can see the whole chain in action. And we guess, you’ve probably heard people saying that GPUs are the biggest bottleneck, but that’s not the full story.
They’re not the only bottleneck. The real choke point is energy.
For decades, electricity demand barely grew, so utility providers weren’t prepared for the massive AI-driven surge we’re seeing now. And they’re struggling to add enough new capacity to keep up.
As a result, getting approval for a new grid connection on a fresh development site can take more than 36 months – and that’s before construction even begins.
Which means demand is massively outpacing supply right now – giving massive advantage to data centers with pre-existing power contracts or applications that are further along in the approval process.
And that brings the story back to Helios — the data center Galaxy snapped up.
Uh, Oh… 😧 The rest of this report is exclusive to Crypto PRO members!
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WHAT’S LEFT INSIDE? 👀
- How Galaxy could become a global leader in AI infrastructure
- Pricing in Galaxy’s crypto business and analyzing its risks
- Our 2028 price forecast for $GLXY
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