NEW YORK, Jan 17, 2026, 08:41 EST — The market has shut down for the day.
- Galaxy Digital (GLXY) closed Friday at $34.31, gaining 7.25%.
- Galaxy announced ERCOT has greenlit an additional 830 MW of load for its Helios data center campus, pushing total approved capacity past 1.6 GW.
- The company also sealed a $75 million tokenized CLO, pushing deeper into onchain credit.
Galaxy Digital (GLXY) shares climbed 7.25% Friday, closing at $34.31 on Nasdaq after fluctuating between $32.38 and $34.73. On Thursday, the stock finished at $31.99, with volume dropping to roughly 15.5 million shares from around 20.6 million the previous day. 1
Galaxy followed up with an update on its Helios data center campus in West Texas, revealing that ERCOT, the grid manager, has greenlit an extra 830 megawatts of computing demand—a key measure of electrical load. This boosts Helios to over 1.6 gigawatts of ERCOT-approved, utility-contracted capacity for AI and high-performance computing (HPC). The move coincides with a service pact involving AEP Texas and Wind Energy Transmission Texas as the transmission interconnection provider. CEO Mike Novogratz described the approval as a “watershed moment,” noting that demand for “AI-ready” capacity in Texas is now “unprecedented.” 2
Power access is becoming the bottleneck in data center construction, and the market sees Helios as Galaxy’s ticket to expand beyond crypto trading and lending. Bitcoin last hovered near $95,305, with ether around $3,301 on Saturday—levels that could influence crypto-linked stocks once U.S. markets reopen. U.S. stock exchanges are closed Monday for Martin Luther King Jr. Day, reopening Tuesday. 3
Galaxy announced it closed Galaxy CLO 2025-1, a collateralized loan obligation tokenized on the Avalanche blockchain, backed by roughly $50 million anchored by Grove, part of the Sky ecosystem, formerly known as MakerDAO. This deal funds an uncommitted credit facility for Arch Lending, whose consumer loans are overcollateralized with bitcoin, ether, and other digital assets. So far, about $75 million has been financed, with the structure capable of scaling to $200 million. Galaxy president and CIO Chris Ferraro called it “opening a new avenue” for institutional credit, while Grove Labs co-founder Sam Paderewski highlighted the move as bringing securitization onchain “without compromising institutional standards.” 4
The backdrop remains messy. Crypto-linked stocks often fluctuate alongside token prices, risk appetite, and liquidity. Galaxy continues to be caught in that blast radius even as it works on expanding its infrastructure.
As Nasdaq reopens, traders will watch closely for momentum beyond the recent two-day spike and any new info on customer demand and timing linked to Helios. Typically, the next move needs more than just a headline to gain traction.
The downside is clear: Helios remains a build-and-connect project, so any hold-ups in construction or interconnection could push back timelines and drive up costs. On the financing end, private-credit setups face risks if collateral values fall or borrowers run into trouble—especially since these loans are linked to volatile digital assets.
Galaxy plans to release its fourth-quarter and full-year 2025 earnings on Feb. 3, ahead of the market open. Management will hold a conference call at 8:30 a.m. ET. Investors will focus on any updates regarding Helios customers, spending outlooks, and signs that onchain credit is impacting fees and balance-sheet figures. 5
