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StoneX Keeps $57 Galaxy Digital Target as CoreWeave Debt Draws Focus

CoreWeave is the sole tenant for 800 MW of gross power under contract at Galaxy’s Helios campus and has committed to 526 MW of critical IT load across three phases.

By Enna Lee
Published
Data center buildings sit beside a West Texas electrical substation / TokenPost.ai (macro)
Data center buildings sit beside a West Texas electrical substation / TokenPost.ai (macro)

StoneX reaffirmed a Buy rating and $57 price target for Galaxy Digital on Oct. 19, saying the company’s current valuation understates its AI data center business and assigns no value to its digital asset operations.

Investors are focused on CoreWeave’s rising borrowing costs and its end-of-June debt balance of $35.6 billion.

CoreWeave is the sole tenant for 800 MW of gross power under contract at Galaxy’s Helios campus in West Texas. Its commitment covers 526 MW of critical IT load across three phases.

Galaxy delivered the first 133 MW of critical IT load to CoreWeave in July under a 15-year lease. A previous Citi upgrade of Galaxy also focused on Helios as part of the company’s AI infrastructure plans.

Enna Lee

Reporter

Enna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.

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