Why Wall Street values some crypto firms for AI power, not just crypto
Cointelegraph 2026-06-25 15:00:00
Context: Galaxy Digital's stock surge in June 2026 indicates a shift in how investors value crypto firms, with some companies being rewarded for their AI infrastructure rather than just their digital asset exposure. This change is driven by the growing demand for artificial intelligence and the need for infrastructure to support AI models. As a result, investors are focusing on crypto companies that control power supplies, grid connections, and large computing sites.
Key Facts
- Galaxy Digital's recent share price increase was driven by investors' focus on its Helios campus in Texas, a major data center project being developed for artificial intelligence and high-performance computing.
- The company's Helios campus, acquired from Argo Blockchain in 2022, is being shifted toward high-performance computing and AI data center services, with AI cloud provider CoreWeave entering into agreements tied to the site.
- The rapid growth of artificial intelligence has created a new bottleneck, with the main challenge being securing enough computing capacity to train and run AI models, which require large numbers of GPUs, specialized networking equipment, advanced cooling systems, and huge amounts of electricity.
- Some crypto firms, such as Galaxy Digital, are well-positioned to provide AI infrastructure due to their existing investments in sites built for high power demand, including land, power supply agreements, and advanced cooling systems.
- Long-term AI infrastructure agreements can create steady revenue streams that are easier to forecast than income from crypto trading, making businesses tied to AI infrastructure more attractive to public market investors with potentially higher valuation multiples.