Galaxy Digital Upsizes Public Offering to Fund Data Center Expansion

Galaxy Digital ( (TSE:GLXY) ) has shared an announcement.

Galaxy Digital Inc. announced the pricing of its upsized public offering of 31,600,000 shares of Class A common stock at $19.00 per share, marking its first underwritten public offering as a listed company on the Nasdaq Global Select Market. The proceeds from the offering will be used to expand its artificial intelligence and high-performance computing infrastructure at its Helios data center campus in West Texas, supporting the company’s growth and operational capabilities in the digital assets and data center sectors.

The most recent analyst rating on (TSE:GLXY) stock is a Buy with a C$23.00 price target. To see the full list of analyst forecasts on Galaxy Digital stock, see the TSE:GLXY Stock Forecast page.

Spark’s Take on TSE:GLXY Stock

According to Spark, TipRanks’ AI Analyst, TSE:GLXY is a Outperform.

Galaxy Digital Holdings is well-positioned with strong profitability, a robust balance sheet, and strategic growth initiatives in AI and digital assets. The upcoming Nasdaq listing and UK expansion are significant positives. However, revenue volatility, cash management issues, and recent crypto market challenges weigh on the score. The technical analysis indicates potential near-term volatility, and the valuation reflects both optimism and inherent risks. Overall, while the company has a solid foundation for future growth, investors should remain cautious of market volatility and regulatory challenges.

To see Spark’s full report on TSE:GLXY stock, click here.

More about Galaxy Digital

Galaxy Digital Inc. is a global leader in digital assets and data center infrastructure, providing solutions that enhance progress in finance and artificial intelligence. The company offers a digital assets platform that includes institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. Additionally, Galaxy invests in and operates advanced data centers.

Average Trading Volume: 1,319,994

Technical Sentiment Signal: Strong Buy

Current Market Cap: C$10.39B

See more insights into GLXY stock on TipRanks’ Stock Analysis page.