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Data Centers @galaxyhq Opinions are my own.

Faro, Portugal
Joined August 2022
Photo by samellkay (@samellkay)
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🎉 Celebrating @galaxyhq as they officially join the @NasdaqExchange family! 💫
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Some of the smartest, best people I’ve ever worked with are @GalaxyHQ teammates. Let’s goooooo!!
Big milestone for @GalaxyHQ! Our registration statement is now effective with the SEC. We’re on track to list on Nasdaq shortly after our shareholder vote on May 9, contingent on completing our reorganization. Let’s go! hubs.li/Q03ghz5_0
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The extended wait times for large data centers to connect to the grid highlight the growing importance of seasoned Bitcoin miners who’ve proven they can develop, operate, and scale at pace. As connection timelines stretch to as long as seven years, it’s clear that #Datacenters and #compute companies will lean on partnerships with established teams who can deliver quickly and reliably. This gives public #Bitcoin miners a significant edge, as they’ve already shown they can execute on a large scale, positioning them as essential players in powering the future without the delays that newcomers will face. And #Texas? We're just getting started. Rooted in a business #culture that values grit, innovation, and a permissionless approach, Texas is on track to become the flexible compute capital of the world. Our @ERCOT_ISO grid, built on the spirit of #entrepreneurship, invites bottom-up solutions from those ready to take on the challenge. Bitcoin miners, in partnership with ERCOT leadership, research institutes, and forward-thinking policymakers, are laying the groundwork for a future where #AI data centers requiring gigawatts of power can scale effortlessly. This isn't just about keeping up—it's about setting the pace. Texas is all about accelerating energy abundance, creating jobs, and leading the charge to safely push the boundaries of what's possible. We’re on the path to deliver more jobs, spark greater innovation, and ensure reliable, affordable power for all. The best is yet to come.
$IREN Dominion Energy expects the time it takes to connect large data centers to the electric grid to increase by one to three years amid a surge in requests, bringing the total wait time to as long as seven years. The longer wait time applies only to large data centers that need more than 100 megawatts of electricity and won’t affect projects that have already been evaluated, according to a letter the company’s transmission arm sent its regulated utility as well as co-ops and local utilities.
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4/ The Power Play Miners with power assets are now positioned as attractive targets. With the likes of hyperscalers willing to pay premiums for power capacity, driving up miner valuations. AWS's purchase at $677K per MW exemplifies this trend.
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3/ Business Consolidation & Reverse Mergers Legacy fixed-rate agreements are no longer viable, leading to widespread consolidation. Reverse merging being a strategic option as miners seek economic stability and scalability.
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2/ Vertical Integration: The New Norm Miners are acquiring power access and sites to control costs and optimize operations, especially as post-halving hashprice hits record lows. Over 1.1 GW of power access has changed hands.
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1/ Bitcoin Mining M&A in 2024: A Strategic Shift 2024 has seen over $460M in M&A transactions in #Bitcoin mining. Miners are focusing on vertical integration and strategic acquisitions to enhance operational control and efficiency.
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Hey all! Check out our latest bi-annual Mining report below. It’s been a fascinating first half of the year and in the report, we recap some key trends and provide our thoughts on the Mining space for H2 2024. DM me to continue the conversation further! Some highlights from the report below ⬇️ galaxy.com/insights/research…
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Looking for a research analyst to join our team - if you have an interest or experience in bitcoin mining I encourage you to apply. boards.greenhouse.io/galaxyd…
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Another great team effort with @brian_wright21 @hhornblower95 @its__nbd @nonfungibleguy @SimritDhinsa @samellkay and our Helios team!
$GLXY GM average marginal cost to mine of less than $19,500 @austorms
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Transaction fees skyrocketed following the halving. Now that we are a few hundred blocks into the new bitcoin halving cycle, let's observe how things have progressed since block 840,000. A quick 🧵on transaction fees for the first 400 blocks mined post-halving:
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9/ Don’t forget to tune into our twitter spaces today where we'll be discussing the report! @GuerillaV2 @SimritDhinsa @bitcoinbeezy @hiroto_btc
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8/ As we navigate the complexities and opportunities of #Bitcoin mining, hedging and M&A stand out as key strategies for stability and growth. The journey ahead is challenging but filled with potential for innovative and strategic partnerships
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7/ Capacity Crunch & Acquisition Opportunities🔍 Facing full sites and long lead times for new infrastructure, miners are on the lookout for acquisitions to accommodate new hashrate, signaling a busy year for turnkey site deals in 2024.
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6/ The Real Option of a Mining Operation💡 Acquiring energized mining operations can present a strong return opportunity, especially in deregulated energy markets. As sites can be utilized as a proxy for energy arbitrage.
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5/ Attractive Small Caps & Vertical Synergies ✅ Smaller and more vertically integrated miners are prime targets. These moves aim at lowering costs, enhancing operational control, and navigating the halving with resilience.
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4/ M&A: A Strategic Play for 2024♟️ As we approach the fourth halving, M&A could emerge as a crucial strategy for miners. Reducing power costs, achieving vertical integration, and addressing capital needs are top motives that can drive deal flow.
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