Sadly, Our Only Bitcoin Play.
Our original theory is was there might be ‘something’ behind this Bitcoin stuff. We didn’t know what (or cared what) but just something. Before 1999 we (older Wall Street guys) were low price to earnings, low price book value and low price to sales investors/speculators. There always had to be something to hang our hat on. If you bought a stock at $12 and it fell to $10 (which happened to be book value) you didn’t sell. You might even buy more.
But then we discovered Internet Stocks and Biotech stocks. Most which had NO revenues, forget profits. And we did well. Real well. Up $30 billion in the past 10 years alone. Example: Bavarian Nordic (BVRNY) $12.25, gains 149% After Adding to Watch Lists.
But if a company with no revenues falls from $12 to $10, then what? You’re holding on why? Ditto with Bitcoin and anything crypto.
Anyway, we don’t have much to say about Bitcoin, since aside from adding Galaxy to the Watch List – like many others, we’ve watched this EPIC party from the sidelines. Galaxy was up from $1.00 (to $5.00), six months before adding it to the Watch List- but we thought we’d throw a dart.
We looked at it as a back-door into Bitcoin, since we didn’t have any intention (and still don’t) of having a Bitcoin ‘wallet.’ Galaxy went up 516%, we launched a Bitcoin site, then it went down 91.8%. And we shut down the Bitcoin site lol. Thanks for playing, come again!
Adding Galaxy Digital (GLXY) $5.19 to Watch List.
Our thesis that it would trade parallel with Bitcoin however, was spot on. Both down and up.
We’re looking for, let’s call them digital ideas, so send them if you have them. A few friends have been doing very well lately with companies that do a raise, with a pledge to take the proceeds and invest a good portion to hold in treasury, IN Bitcoin.
Thumzup Media Corporation (TZUP) $15 is a good example. Read the ‘progression‘ of news releases. It’s similar with other plays. When we met them at an investment conference, its was trading (not trading) a couple thousand shares a day around $3.00 – $4.00. Then the news starting dribbling out:
First, last October ,some Investment Banking friends of ours at Dawson James, do a small $7M raise and uplists them to NASDAQ. Thumzup Media Corp Lists Shares on Nasdaq and Prices Upsized Public Offering of Shares of Common Stock to $7,125,000
Then in November the Board of Directors approved the purchase of up to $1 million in Bitcoin. Hmm. The CEO says “As demand for Bitcoin increases and it gains recognition as a leading asset class, we believe it will serve as a robust reserve asset for our treasury.” Well alrighty then. Thumzup Board of Directors Approves Bitcoin as Treasury Reserve Asset
Then in January they buy $1 million in Bitcoin and announce intention to hold up to 90% of its liquid assets in BTC. Hmm.
Thumzup Buys $1 Million in Bitcoin to Diversify Liquid Assets
Then in June they announce a $6 million (via above shelf registration) raise via Dominari Securities LLC. Thumzup Media Corporation Announces $6.5 Million Financing at $6.00 Per Share
We’ll end the story with this 21 days ago, Thumzup Media Corporation’s Board of Directors Authorizes Company to Hold up to $250 Million in Cryptocurrencies
Oh did we mention the stock went from dormant to…FANTASTIC!
CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS
This press release and the accompanying conference call may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and “forward-looking information” under Canadian securities laws (collectively, “forward-looking statements”). Our forward-looking statements include, but are not limited to, statements regarding our or our management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. Statements that are not historical facts, including statements about Galaxy’s business plans and goals, including with respect to the lease with CoreWeave, and the parties, perspectives and expectations, are forward-looking statements. In addition, any statements that refer to estimates, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this document are based on our current expectations and beliefs concerning future developments and their potential effects on us taking into account information currently available to us. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks include, but are not limited to: (1) the inability to maintain Nasdaq’s listing standards; (2) costs related to AI/HPC plans, the transactions, operations and strategy; (3) changes in applicable laws or regulations; (4) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (5) changes or events that impact the cryptocurrency and AI/HPC industry, including potential regulation, that are out of our control; (6) the risk that our business will not grow in line with our expectations or continue on its current trajectory; (7) the possibility that our addressable market is smaller than we have anticipated and/or that we may not gain share of it; (8) the possibility that there is a disruption or change in power dynamics impacting our results or current or future load capacity; (9) any delay or failure to consummate the business mandates or achieve our pipeline goals; (10) technological challenges, cyber incidents or exploits; (11) risks related to retrofitting our existing facility from mining to AI and HPC infrastructure, including the timing of construction and its impact on lease revenue; (12) any inability or difficulty in obtaining financing for the AI/HPC financing on acceptable terms or at all; (13) changes to the AI/HPC infrastructure needs and their impact on future plans at the Helios campus; (14) any delay in, or failure to close, the acquisition of the additional land and power adjacent to the Helios campus currently under contract; (15) risks associated with the leasing business, including those associated with counterparties; and (16) those other risks contained in filings we make with the Securities and Exchange Commission (the “SEC”) from time to time, including in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, filed with the SEC on August 5, 2025 and available on Galaxy’s profile at www.sec.gov/edgar (our “Form 10-Q”). Factors that could cause actual results to differ materially from those described in such forward-looking statements include, but are not limited to, financing and construction terms and conditions, a decline in the digital asset market or general economic conditions; the possibility that our addressable market is smaller than we have anticipated and/or that we may not gain share of the stated addressable market; the failure or delay in the adoption of digital assets and the blockchain ecosystem; a delay or failure in developing infrastructure for our business or our businesses achieving our mandates; delays or other challenges in the mining and AI/HPC infrastructure business related to hosting, power or construction; any challenges faced with respect to exploits, considerations with respect to liquidity and capital planning; and changes in applicable law or regulation and adverse regulatory developments. Should one or more of these risks or uncertainties materialize, they could cause our actual results to differ materially from the forward-looking statements. Except as required by law, we assume no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements. You should not take any statement regarding past trends or activities as a representation that the trends or activities will continue in the future. Accordingly, you should not put undue reliance on these statements.
This press release and our earnings call contain certain preliminary information about our performance in the third quarter of 2025. This information is preliminary and represents the most current information available to management. The Company’s actual consolidated financial statements may differ materially as a result of the completion of normal quarterly accounting procedures and adjustments or due to other risks contained in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2025. Although the Company believes the expectations reflected in this press release are based upon reasonable assumptions, the Company can give no assurance that actual results will not differ materially from these expectations.
