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Financial Results and Corporate Updates from Galaxy Digital

On August 5, 2026, Galaxy Digital Inc. (Nasdaq: GLXY) released its financial results for the second quarter and first half of 2026. The report reveals a net loss of $85 million, showcasing the impact of declining digital asset prices on the company's financial performance.

Key Financial Highlights

• - Net Loss: Galaxy reported a net loss of $(85) million and a diluted adjusted earnings per share (EPS) of $(0.09). The downturn has primarily stemmed from the depreciation of digital assets.
• - Adjusted Gross Profit: The company reported an adjusted gross profit of $43 million with an adjusted EBITDA loss of $(77) million.
• - Overall Equity: As of June 30, 2026, total equity was $2.7 billion, with cash and stablecoin holdings amounting to $2.5 billion.

Despite these challenges, the performance of Galaxy’s core operations showed resilience. The digital assets and data center segments generated substantial adjusted gross profits.

Corporate Developments

Galaxy has made significant strides in its data center operations, particularly through strategic acquisitions to expand its infrastructure. Notably, the company acquired three new sites in Texas dedicated to AI data centers, further enhancing its total power pipeline which now surpasses 5.7 GW.

Expansion Efforts:

• - A development agreement for 500 acres in McGregor Industrial Park aims to support the construction of the Merlin campus, with an initial capacity of 74 MW expected to expand to as much as 500 MW.
• - Additional acquisitions include the Caspian and Selene sites, which offer potential power capacities of approximately 700 MW and 900 MW, respectively.
• - The Helios data center campus in West Texas completed its first phase delivery of 200 MW gross power, 133 MW of which is critical IT load leased to CoreWeave.

Sector Performance Insights

Digital Assets

The digital asset segment generated adjusted gross profit of $66 million despite a challenging trading environment, reflecting a 34% quarter-over-quarter increase. Trading volumes might have deflated, but Galaxy's robust business model has adapted, showing less reliance on market fluctuations.

Key Performance Metrics:

• - Average Loan Book Size: Notable increase to $1.4 billion.
• - New Initiatives: Introduction of OTC Prediction Markets for institutional clients presents an innovative approach to risk management in dynamic markets.

Data Centers

In the data centers sector, Galaxy achieved its first revenue-generating quarter, producing an adjusted gross profit of $20 million and an adjusted EBITDA of $11 million. The first phase's successful capacity delivery indicates a positive outlook moving forward, with expectations of significant quarterly revenue growth.

Future Outlook

As Galaxy Digital continues to navigate the digital assets landscape while expanding its data center capabilities, the company faces both challenges and opportunities for growth. The strategic moves in Texas illustrate Galaxy's commitment to scaling its operations to support increasing demands, especially around AI capacities.

An investor call held on August 5, 2026, will provide further insights into Galaxy's strategy moving forward as they respond to market dynamics. The company remains a key player in shaping the future landscape of digital assets and data center infrastructure within North America and beyond.

Conclusion

As Galaxy Digital Inc. strives to enhance its position in the market, stakeholders will be watching closely to see how effectively the company can capitalize on its current challenges and the rapid growth in AI and digital asset sectors.