Rubin Pitches A Crypto-Company Data Center Play At Sohn New York 2026

(MENAFN- ValueWalk) Jacob Rubin, Founder and Managing Member of Philosophy Capital Management, used his 4:00 PM solo slot at the 2026 Sohn New York Conference to pitch a data center business hidden inside a crypto company, framing it as“a value investor's attempt to play the biggest capex boom in the history of humanity.” The thesis rests on a flagship data center site in West Texas, where the company controls 1.6 gigawatts of ERCOT-approved power and 800 megawatts already contracted to CoreWeave for fifteen years at roughly $1 billion annually. Rubin set a bull case of $75 per share against a current price of approximately $29, implying upside of 150 percent or more if Galaxy executes phased data center delivery and signs incremental hyperscaler contracts. He called the pitch“phase 3” of an evolving thesis that started with Talen Energy's distressed bonds and moved through ProPetro in Texas before landing on the crypto-company-turned-data-center operator.

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The Helios thesis: one-of-a-kind power and execution in West Texas Valuation: $29 current price covers contracted CoreWeave cash flows, everything else is upside Catalysts: index inclusion, hyperscaler deal, Hut 8 comp Nokia: the party favor

Rubin opened with“The Sohn Optimization Problem,” a four-variable framework for choosing a pitch: liquidity, conviction, sex appeal, and thematic relevance. His three finalists, presented in reverse order: third was a“looksmaxxing” basket (Proton, peptides, attractiveness-enhancing products, pitched as a joke rather than the real pick); second was a peace-and-rebuilding basket (dry bulk shipping, a Ukrainian telecom called Kyivstar trading at four times recently listed in the United States); first was Galaxy Digital. He also tucked in a secondary pitch on Nokia (NOK), arguing that the Finnish telecom's Infinera acquisition and scale-across optical networking position it to capture the AI data center build-out at a 60 percent discount to peers.

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