Galaxy Digital Inc. (NASDAQ:GLXY) on Thursday completed ERCOT interconnection studies and secured approval for additional power capacity.
Galaxy Digital stock is moving in positive territory. Why is GLXY stock trading higher?
Additional 830 MW Secured at Texas Data Center Campus
Galaxy said it completed a Large Load Interconnection Study and received approval from the Electric Reliability Council of Texas for an additional 830 megawatts of computing demand at its Helios data center campus in West Texas.
In connection with the approval, the company also executed a service agreement with AEP Texas for the additional capacity. Galaxy said Wind Energy Transmission Texas facilitated the interconnection studies.
The approval brings Galaxy's total ERCOT-approved and utility-contracted power capacity at Helios to more than 1.6 gigawatts, effectively doubling the campus's approved power capacity.
Galaxy said the additional capacity supports the continued development of Helios into a multi-gigawatt, multi-tenant data center campus designed to support artificial intelligence and high-performance computing workloads.
The company said construction is underway to support the first phase of Helios under its long-term lease agreement with CoreWeave, with initial power delivery expected in early 2026.
Galaxy also said it is evaluating additional power and land opportunities in Texas and beyond.
Earnings Around The Corner
The company is scheduled to report fourth-quarter and full-year 2025 financial results before the opening of the Nasdaq and the Toronto Stock Exchange on Feb. 3.
Analysts anticipate a loss of 24 cents per share along with revenue of $13.67 billion.
Technical Analysis Of Galaxy
The stock is currently trading 30.7% above its 20-day simple moving average (SMA) and 9.1% above its 100-day SMA, demonstrating strong short-term momentum. Over the past 12 months, shares have increased by 40.31%, positioning them closer to their 52-week highs than lows, which indicates a robust longer-term trend.
The RSI is at 69.71, considered neutral, suggesting that the stock is not yet overbought. Meanwhile, the MACD is above its signal line, indicating bullish momentum, which could attract more buyers into the stock.
The combination of a neutral RSI and bullish MACD suggests mixed momentum, but the overall trend remains positive.
Benzinga Edge Rankings
Below is the Benzinga Edge scorecard for Galaxy Digital, highlighting its strengths and weaknesses compared to the broader market:
- Momentum: Bullish (Score: 83/100) — Stock is outperforming the broader market.
- Value: Risk (Score: 55.98/100) — Trading at a premium relative to peers.
The Verdict: Galaxy Digital’s Benzinga Edge signal reveals a classic ‘High-Flyer’ setup. While the Momentum (83) confirms the strong trend, the Value score warns that the stock is priced for perfection—investors should ride the trend but use tight stop-losses.
GLXY Price Action: At the time of writing, Galaxy stock is trading 3.42% higher at $33.08, according to data from Benzinga Pro.
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