When you see “crypto-related stocks,” it’s easy to pull up a BTC chart without a second thought.
But how a company actually makes money may have changed.
In its third-quarter results announced on October 27, Galaxy reported adjusted gross profit of $79 million from its data center business, up from $20 million the previous quarter. The company said this mainly reflected the Helios Phase I leasing business contributing a full quarter of revenue for the first time.
It made me think that relying only on the label “crypto company” really is taking the easy way out.
A data center brings in additional revenue, but also adds risks related to construction, financing, and customer obligations. When you buy its stock, you’re buying the whole company—not simply a copy of Bitcoin’s ups and downs.
Even if they’re all grouped under the crypto label, the businesses inside can be worlds apart.
But how a company actually makes money may have changed.
In its third-quarter results announced on October 27, Galaxy reported adjusted gross profit of $79 million from its data center business, up from $20 million the previous quarter. The company said this mainly reflected the Helios Phase I leasing business contributing a full quarter of revenue for the first time.
It made me think that relying only on the label “crypto company” really is taking the easy way out.
A data center brings in additional revenue, but also adds risks related to construction, financing, and customer obligations. When you buy its stock, you’re buying the whole company—not simply a copy of Bitcoin’s ups and downs.
Even if they’re all grouped under the crypto label, the businesses inside can be worlds apart.
