So 1.5 weeks have now passed. The first gimmicks are over and my Watchlist Pie has returned a total of 4.5% in one week. This has now been sold and I have built up a pie to save for the next 8-10 years. I'm starting with 50€ a week until I've completed the broker's test phase. After that I'll ramp it up to about 1k per month.

There are still a few stocks missing, but the big ones will be scaled down a bit. Among others $IREN (-0,67 %) ....

What do you think of the selection?

$NVDA (-3,33 %)
$GOOGL (+0,59 %)
$MSFT (-3,17 %)
$AVGO (+8,33 %)
$005930
$AMD (-7,23 %)
$TSLA (+2,79 %)
$IBM (-0,15 %)
$RKLB (+5,42 %)
$NU (-1,57 %)
$SMCI (-1,04 %)
$HIMS (+0,15 %)
$ENR (-2,06 %)
$HOOD (-2,19 %)
$PLTR (-2,66 %)
$CSCO (-2,53 %)
$MTX (-1,48 %)
$TTD (-0,52 %)
$QBTS (+0,23 %)
$9866 (-3,48 %)
$CRWV (+1,6 %)

And what of course should not be missing is $SIKA (+1,51 %) These are still weighted at 2% 😉 As a craftsman, I really enjoy using the products myself. The technological progress compared to other products such as StoCretec or others is already enormous, but it would go beyond the scope of this article.

$IREN (-0,67 %)

$IREN (-0,67 %) owns the data centers, the power supply and the property. For maximum performance on a large scale $IREN (-0,67 %) the best choice on the market.

Wall Street is slowly starting to realize this, hopefully soon the big hyperscalers will too 🚀

Current Price: $26.48.

Average Price Target: $35.

Average Analyst Success Rate: 51.81%.

1. the US capacity for energy and computing power is severely limited

2. approval and construction of facilities take years

3. vast amounts of computing power are required for inference (running ChatGPT, Claude, etc.).

3. $IREN (-0,67 %) is a highly regarded, publicly traded Bitcoin miner with massive data centers under construction in Texas.

4. the company has moved away from Bitcoin mining in these new facilities and instead built them out for AI training and inference.

5 Once completed, these facilities are expected to generate approximately $2 billion in new cash flow.

6. even if the AI fails completely, these facilities are extremely valuable as traditional data centers or can be repurposed for Bitcoin mining.

7. the total market capitalization is currently around 5.8 billion US dollars.

🟢 IREN owns the entire stack - land, power, data center infrastructure and GPUs - and can ramp up capacity faster than anyone else.

🟢 They have just doubled their fleet with the latest Blackwell chips from NVIDIA and are ready to scale.

🟢 Ability to ramp up to tens of thousands of GPUs within a few months

$BTC (+0,1 %)
$NBIS (+0 %)
$WULF (+2,23 %)
$CIFR (+0,31 %)
$CRWV (+1,6 %)

From crypto to AI: Galaxy transforms Helios with USD 1.4 billion in project financing

It was assumed that $GLXY (+2,54 %) the adjacent areas of Helios are being prepared for additional AI data centers - this assessment is confirmed by new information.

"They have delayed the quarterly report to August 5 - a very positive sign that they are beating expectations and/or making big announcements."

this assessment is now confirmed:

Satellite images (Credit: u/stefanvanderlux) show initial development work on the neighboring property; in parallel, Galaxy has secured binding, secured project financing in the amount of 1.4 billion USD (80 % loan-to-cost, 36 months), whereby USD 350 million in equity equity has already been contributed and the loan is secured by the assets of Galaxy Helios I.

The financing is for the conversion and expansion of the Helios campus in West Texas into a large-scale AI/HPC infrastructureinfrastructure, the first phase of which will 2026 phase is scheduled to start in early 2026; the maturity date of the current facility is August 15, 2028 dated August 15, 2028.

At the same time, the GPU cloud provider $CRWV (+1,6 %) has drawn its final option and secured a total of 800 MW of approved IT capacity at the site; the agreements include long-term terms of use (15 years) and are the basis for Galaxy estimates of >1 billion USD annual revenue from this deal.

Technically, the facility is designed for high-density AI workloads: planned equipment with $NVDA (-3,33 %)
H100 GPUs, the use of liquid cooling (with up to 40% lower energy requirements compared to conventional systems) and the use of 100 % carbon-free, "onsite" renewable energy are emphasized in the announcements.

The potential of the site is considerable: Helios can generate up to 3.5 GW scalable; 2.7 GW are the subject of load studies and an additional 1.7 GW under construction - making Helios one of the largest AI data center campuses in the USA. In addition to Phase I (already contracted capacity), there is an additional leasing agreement for Phase II for a further 260 MW IT load.

At the same time, a €1.2 billion expansion initiative was announced, in which $GLXY (+2,54 %) with USD 750 million and $CRWV (+1,6 %) with USD 450 million are to be involved - a signal for planned regional expansion beyond Texas and Nevada.

At the governance and management level, Galaxy and CoreWeave are apparently working on a common framework for AI governance (transparency, data protection), which underlines the regulatory maturity of the project. Operationally and financially, Galaxy is underpinning the transformation: the latest quarterly report shows a gross profit of USD 299 million gross profit and a 12-month turnover of approximately USD 3.2 billion;

in addition Matt Friedrich was appointed Chief Legal Officer (taking office on September 8, 2025), which complements the strength of the management board.

To summarize:

The combination of concrete construction activities on adjacent sites, the secured project financing, the full CoreWeave commitment to 800 MW as well as technical and energy alignment makes the earlier assumption about a significant expansion of Helios plausible and verifiable.

For Galaxy, this means a clear strategic realignment from a predominantly crypto-oriented business model to a capital-intensive but contract-based AI infrastructure platform with potentially stable, recurring cash flows.

Important:

The development is promising, but not free of risks

• Construction and schedule risk
• Implementation of the power supply
• Market and demand development for GPU compute

This is not investment advice - just a summary of the facts and what they mean for the Helios transformation.

Sources:

• https://seekingalpha.com/news/4486182-galaxy-digital-secures-14b-financing-to-expand-helios-ai-data-center
• https://cointelegraph.com/news/galaxy-digital-1-4b-coreweave-ai-datacenter
• https://www.cryptopolitan.com/galaxy-digital-secures-1-4-b-helios

$APLD (-3,46 %)

The shares are trading higher after the company announced its financial results for the fourth quarter on Wednesday after the close of trading.

What happened : Applied Digital reported fourth-quarter revenue of $38.01 million, up 41% from a year ago. According to data from Benzinga Pro, total revenue missed the Wall Street consensus estimate of $40.84 million.

The company's revenue came primarily from its data center hosting business, which operates data centers to provide space for crypto mining customers. The company's 106-megawatt and 180-megawatt facilities in North Dakota were fully utilized during the quarter.

Applied Digital said demand for these services remains $BTC (+0,1 %) Bitcoin "robust"

The company reported a loss of 3 cents per share, beating the Wall Street consensus estimate of a loss of 15 cents per share.

The company's revenue for the full fiscal year totaled $144.2 million, up 6% from the previous year. The company reported an adjusted loss of 6 cents per share for the full financial year.

What's next:

The company said it has signed two 15-year leases with $CRWV (+1,6 %) CoreWeave Inc. to provide 250 megawatts of critical IT load from its data center campus in North Dakota.

Applied Digital said these leases are expected to generate approximately $7 billion in contracted revenue over the 15-year term of the leases.

Since the end of the quarter, CoreWeave has exercised its lease option for an additional 150 megawatts.

Together, the updated lease terms will generate approximately $11 billion over the 15-year lease term.

"These long-term leases mark a pivotal moment for Polaris Forge 1, one of North America's most ambitious data center projects," said Wes Cummins, CEO of Applied Digital.

The first 100-megawatt facility is scheduled to go live in the fourth quarter of 2025, with a second 150-megawatt facility scheduled to go live in mid-2026 and a third 150-megawatt facility in 2027.

"We believe Polaris Forge 1 will serve as a launch pad for the future of AI infrastructure."

Cummins said the company is working to build strong relationships with all major hyperscalers to position itself well for future projects.

"We are confident that our multi-gigawatt pipeline and proven design and construction expertise, combined with hyperscalers that appear to be more active than ever in securing land, power and data center capacity, will continue to drive our growth."

Applied Digital's stock is up 9.65% to $11 in after-hours trading, against a 52-week trading range of $3.01 to $15.42.

Source: benzinga.com

Goldman Sachs alumnus as CEO - the billionaire turned crypto wizard: Mike Novogratz.

At first glance, everything appears to be $GLXY (+2,54 %) a crypto relic - the share price hovers around €26 and is largely ignored by the wider market. But beneath the surface, the company is quietly transforming into a key player in the field of AI infrastructure in North America.

This is not just empty talk, but a fundamental growth story that is now gaining serious momentum.

• Already huge BTC treasury. Ranked 8th globally and growing.

Crypto remains part of Galaxy's DNA, managing billions in assets and investing in AI startups, but it is now an optional upside factor rather than the main story.

At its core is a high-margin, low-capital AI infrastructure platform that generates stable, contractually secured cash flows - a value that the market is just beginning to recognize.

The linchpin of Galaxy's transformation is Helios, a massive AI data center campus in West Texas.

Originally built for crypto-mining and then decommissioned, Galaxy has transformed Helios into a next-gen AI compute hub and signed a 15-year contract with $CRWV (+1,6 %) a leading AI cloud provider.

Phase I will deliver 133 megawatts of computing power by 2025 - fully leased.

Phase II will triple the capacity to 393 megawatts by 2027 - also fully contracted.

Helios alone is expected to generate around $700 million in recurring annual revenues with EBITDA margins of over 85%, which corresponds to around $600 million EBITDA. A comparison with competitors suggests that Helios is worth just under $10 billion.

But Galaxy is not standing still. With a pipeline volume of over 1.7 gigawatts of additional AI data centers already in permitting or under contract - i.e. multiple Helios-sized sites - Galaxy could be on track to generate $2 to $2.5 billion in EBITDA annually. This would establish them as the dominant landlord in the AI infrastructure real estate segment.

• A genius on Twitter bought satellite imagery - which all but confirms that they are developing the adjacent HELIOS space into more AI data centers. More data centers = potentially billions more in revenue.

(Credit u/stefanvaderlux on Twitter)

Increased power requirements for their AI data centers have already been applied for in 2022 - putting them ahead of the AI wave and giving them first mover advantage once approval comes.

Value creation opportunity: if maximum capacity is approved, this could create $42 billion in enterprise value for their data center business alone.

• First quarter earnings coming up: they have pushed back the date to August 5 - a very positive sign that they are beating expectations and/or making big announcements.
• Investors are jumping on the Novo bandwagon so much that their most recent venture funding round was crowded: https://www.galaxy.com/newsroom/galaxy-announces-final-close-of-galaxy-ventures-fund-i
• They're a big player in market-making. A Satoshi-era Bitcoin wallet moved 40,000 BTC and sent shockwaves. You can't just sell that much Bitcoin. These were sent for management and sale to $GLXY (+2,54 %) sent to https://cointelegraph.com/news/bitcoin-whale-moves-last-btc-galaxy-digital

This man is so trusted that he is trusted with literally billions.

• There is a very obvious crypto hype cycle going on right now. Just from this alone, we could see movement.

Today, Galaxy is trading at a market capitalization of around $10 billion. With the successful execution of the pipeline, a valuation of $100bn is achievable in the next two to three years - accordingly, the price would be around $260, almost ten times the current level.

GLXY is also already showing technical strength: the breakout above resistance in the € 23-24 range took place on rising volumes.

At a price of ~€26, Galaxy Digital offers an exceptional risk/reward profile - solid long-term prospects combined with exciting short-term momentum drivers. For investors looking to profit from the AI infrastructure boom beyond pure chip manufacturers, Galaxy Digital is a rare insider tip.

Sources:

• https://investor.galaxy.com/news/news-details/2025/Galaxy-Announces-Commitment-with-CoreWeave-to-Host-Additional-Artificial-Intelligence-and-High-Performance-Computing-Infrastructure-at-Helios-Data-Center-Campus/default.aspx
• https://www.galaxy.com/newsroom/building-the-infrastructure-for-an-ai-powered-future
• https://www.sec.gov/Archives/edgar/data/1859392/000185939225000007/glxy-20250331xpressrelease.htm
• https://www.datacenterdynamics.com/en/news/coreweave-leases-another-260mw-capacity-from-galaxy-in-texas
• https://chainbroker.io/funds/galaxy-digital
• www.galaxy.com/newsroom/galaxy-announces-final-close-of-galaxy-ventures-fund-i
• https://cointelegraph.com/news/bitcoin-whale-moves-last-btc-galaxy-digital
• https://www.tradingview.com/symbols/NASDAQ-GLXY

Yesterday evening I increased my investment in $RSGN again, or rather doubled it (~47% remaining profit on total position, i.e. 50% margin of safety).

As the only one keeping an eye on the stock, I am happy to inform you about my reasons:

Block Trades:

ABB's bookmakers placed a large number of shares at just under 20 in May and 1m shares at just under CHF 28 in July. These are probably (no public information available) placements by SPAC sponsors or early shareholders. This increases the free float and makes the company more attractive, as the co-determination rights are distributed. In addition, the CHF 28 mark should now prove to be a significant support.

New investors:

Existing and new investors in RSGN are regularly topping up:

Ameriprise is just the latest example of a relevant player. BUT: Some of these are also corresponding fund investments.

Article in FuW:

The financial magazine "Finanz und Wirtschaft" regularly (weekly?) presents its top picks. The track record of previous picks is impressive - for example $CRWV (+1,6 %) was discovered early on and advised to invest. The attention will certainly help the "small player" to end up on watch lists or attract investments directly. The media attention also helps with private placements.

Negative - or risk:

The stock is currently heading for the top, but I had no patience for a limit order. The support at 29.- does not leave much room for maneuver.

Gameplan:

A sell order is set at CHF 45, over 180 shares. We will see if we see the run. I am convinced of the company in the long term. I may adjust both the number of shares and the trigger price.

The fact is that European equities are still undervalued compared to US equities. The drive towards small and mid-caps is also in tact. Fund inflows and direct investments should continue to help RSGN.

What does $NBIS (+0 %) ? And what do they do differently from the big players like Google $GOOGL (+0,59 %) , Amazon $AMZN (-1,95 %) and new companies like $CRWV (+1,6 %) and $IREN (-0,04 %)?

Many people simply find it difficult to understand the business model. That's why I'll try to explain it in a way that even someone who has nothing to do with technology will understand.

Imagine the computer world as a huge playground where companies build super-fast machines to develop smart robots or cool AI games, for example an AI that paints pictures or can chat with you like a friend. $NBIS (+0 %) is one of these companies, but it is special. Because they build their own slides and swings, i.e. their own infrastructure for AIs, and don't just use old, boring ones from others.

The fact that they build their own playground is VERY IMPORTANT and I'll explain why.

Once they've built this playground, they rent out these super-powerful computer parts - called GPUs (think of them as magical brains for AIs) - to people who want to use them to develop cool AI stuff.

The competition is other "playground builders", but big ones like $AMZN (-1,95 %) (AWS) or $GOOG (+0,47 %) (GCP) who build playgrounds for all kinds of games (not just AI), and smaller ones like $CRWV (+1,6 %) or $IREN (-0,04 %) who also focus on AI but have a different approach.

Like I said: $NBIS (+0 %) builds everything themselves (a kind of "do-it-yourself" kit), unlike most others who buy pre-made parts from third parties. Nebius develops its own computers and software, specifically for AI. As a result, their machines run faster, consume less energy and cost less to rent. This is why Nebius' prices are 30-40% cheaper than AWS or GCP and the reason for these lower prices is important, as explained above. It's like building your own fast bike instead of buying a slow one from the store.

This also allows them to get the latest and greatest GPUs from Nvidia faster than others. Nvidia $NVDA (-3,33 %) is also a partner (i.e. a buddy).

The big competitors like AWS or Google don't just do AI, but also a hundred other things, like storing your vacation photos or running websites for cupcake stores.

$NBIS (+0 %) says: "No thanks, we only do AI!" and that's why their tools are particularly well suited to AI tasks, such as training or efficiently running smart bots.

It's like a store that only sells ice cream and therefore has the tastiest ice cream. Would you rather go there or to a supermarket that sells a thousand other things?

Or imagine a family doctor who can do a little bit of everything compared to a neurosurgeon who specializes in brain surgery. Who do you go to when you need brain surgery? Exactly.

Then you ask: What about $CRWV (+1,6 %) and $IREN (-0,04 %) ?

Imagine building your own playground, which costs a little more - but you also sell cupcakes, juices and summer drinks on the weekends. So you have a lot of savings and additional revenue streams to rely on if your playground ever needs more money. $NBIS has over $1 billion in cash and three other growing businesses, as well as 28% in a fourth company to fund their AI computing. This ability to raise capital quickly and without dilution is extremely important.

They build themselves.

They build efficiently.

They build faster.

They build cheaper.

They charge less money.

And they have enough money to build even more.

$IREN (-0,67 %)

A large part of the investment thesis of $IREN (-0,67 %) is linked to the company's ambitious expansion into the fast-growing AI/HPC sector.

While $IREN (-0,67 %) Bitcoin mining yields remain exceptional, performance in this segment is heavily influenced by factors outside of the company's control - namely price, network difficulty and ASIC prices. $BTC (+0,1 %) -price, network difficulty and ASIC prices.

Today's demand for AI computing power is only a fraction of what will be needed.

The reasons are:

- AI switches from text to real-time video, 3D and full scene understanding

- AI co-pilots integrated into every productivity and development tool

- Autonomous robots, vehicles and smart factories

- AI-generated content on a large scale: ads, movies, virtual worlds

- Constant retraining of boundary models, 100 times more computationally intensive

Access to AI computing power and related infrastructure will be critical for major tech companies to defend and grow their multi-billion dollar valuations. These players are outbidding each other, not only to secure capacity, but also to prevent others from obtaining it. Whoever controls the most computing power capacity and supporting infrastructure will gain a massive advantage over the other.

We have already seen this in the race for $NVDA (-3,33 %) chips, the biggest bottleneck in the AI value chain today. But this bottleneck is shifting as computing capacity becomes increasingly constrained by access to AI-optimized energy infrastructure.

And here, in my opinion $IREN (-0,67 %) that has more than 3 GW of AI-optimized infrastructure will benefit. It takes time to build, contracts for infrastructure and power connection contracts are becoming more difficult, and the land and locations required are becoming more expensive, $IREN (-0,67 %) has recognized this early on.

Increase in hash rate since 2023:

$IREN (-0,67 %) available today with $IREN (-0,67 %) AI Cloud has $NVDA (-3,33 %) H100 and H200 GPU clusters.

These clusters are powered 100% by renewable energy.

$MARA (-0,69 %)
$CLSK (+0,77 %)
$BTC (+0,1 %)
$MSTR (+1,33 %)
$RIOT (-0,62 %)
$CRWV (+1,6 %)
$META (-0,3 %)
$AMZN (-1,95 %)
$GOOGL (+0,59 %)
$NVDA (-3,33 %)
$MSFT (-3,17 %)
$WULF (+2,23 %)
$CIFR (+0,31 %)
$CORZ (-0,21 %)
$BTDR (+1,69 %)