On August 11, Galaxy Digital Holdings Ltd. rose 8.04% in pre-market trading, trading at approximately $21.01/share, with turnover of $537,200. The rally was driven by the company's strong data center business guidance, which refocused market attention on its high-certainty recurring revenue trajectory.

The company disclosed that with Phase I of its Helios campus now fully operational at 133 megawatts of critical IT load delivered to CoreWeave under a 15-year lease, quarterly rental revenue starting Q3 is expected to reach approximately $80 million, with adjusted project-level EBITDA margins exceeding 90%. This represents a significant ramp from Q2, when the data center segment contributed $20 million in adjusted gross profit and $11 million in adjusted EBITDA.

Additionally, Galaxy Digital has completed the pricing of $3.51 billion in senior secured notes to finance construction of eight data halls totaling 260 MW of critical IT capacity, and acquired 500 acres in Texas for a second campus targeting initial power delivery in 2028. The market appears to have digested the Q2 revenue miss of $8.56 million versus the $8.92 million estimate, pivoting instead toward the forward-looking data center growth story.

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