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Galaxy Digital posts $85M net loss as crypto prices slump
Galaxy Digital reported second-quarter revenue of $8.7 billion, down 15% from the prior quarter, and shares fell about 6.2% in premarket after the results missed estimates.
Galaxy Digital reported an $85 million net loss for the second quarter of 2026, citing declines in digital asset prices during the period. The company said the loss translated to a $0.09 loss per share.
Revenue came in at $8.7 billion, down 15% from $10.2 billion in the first quarter. Analysts had forecast $12.7 billion, according to estimates compiled by Yahoo Finance.
Galaxy’s shares were down 6.2% in premarket trading to $20.70 on Wednesday. The company also pointed to a broader market drop, with total crypto market capitalization falling nearly 15% during the quarter to $2 trillion as of June 30.
Despite the slump, Galaxy reported adjusted gross profit of $66 million and adjusted EBITDA of $11 million, with adjusted gross profit up 34% quarter over quarter. It also said it generated $20 million in adjusted gross profit from AI data centers, as it ramped capacity delivery to CoreWeave, and expects $1 billion in annual revenue from a 15-year partnership, after securing $1.4 billion to expand its Texas Helios AI data center in August 2024.