Galaxy Digital Holdings (GLXY) is projected to reach over $250/share within 2-5 years, with a bull case suggesting a potential range of $250-$500. This valuation is based on GLXY executing on 3.5GW power contracts, which could generate $5.4B in annual revenues and $4.86B in EBITDA, leading to a $237.5/share valuation from this segment alone, excluding its crypto business and further expansion. The analysis assumes continued strong performance in the crypto market and successful expansion of GLXY's power pipeline and data center expertise.