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Galaxy filed its inaugural annual report as a U.S.-listed company on the Nasdaq--not just a milestone, but a declaration that the digital economy is real, it is here, and we're positioned to lead it: from onchain financial rails for some of the world's largest banks, to Helios, our AI data center in West Texas, approved for over 1.6 GW of capacity. @galaxyhq has been on this journey for eight years. We have navigated bull markets and bear markets, regulatory uncertainty, industry crises, and moments of genuine doubt about whether the broader world would ever catch up to what we saw coming. The answer, increasingly, is yes. This is the beginning of the next chapter, and we have never been more bullish. The most consequential shift in this industry right now is the move from narrative to infrastructure. Stories alone don't build an economy. The future digital economy will be built on regulated rails, trusted custody, and tokenization platforms that turn promise into practice. Infrastructure and regulation are converging, and that can unlock the next wave of institutional capital moving onchain. Which brings me to our Data Center Platform. AI is reshaping every industry and the power and scale required to run it are in critically short supply. Helios, our flagship AI data center in West Texas, is the most tangible expression of our ambitions. The first 800 MW leased to @CoreWeave represents over $7.5B of capital investment alone. Combined with our newly approved 830 MW, Helios likely represents well north of $15B in long-term digital infrastructure investment. Our broader ambition: a multi-hundred-billion-dollar portfolio diversified across geographies, tenants, and technologies. Demand for compute is not a cycle. It is a structural condition. $GLXY intends to meet it. Read the full letter here: galaxy.com/newsroom/2025-…





























