Galaxy's AI Business Booms Amid Decreased Crypto Exposure

Galaxy's (GLXY) Q2 results revealed strong growth in its AI data center business, generating $26m in revenue, including $18.9m from leasing to CoreWeave.

The company's net crypto exposure fell by 15% quarter-over-quarter to $1.2b, with BTC remaining the largest holding at 34.5%, while Galaxy sold its entire ETH position in Q1.

Helios, a part of Galaxy's infrastructure, has contracted 526 MW of power capacity, expected to generate over $1.2b annually at high lease-level adjusted EBITDA margins once fully operational.