#United States #New York #Galaxy Digital #Helios Data Center #Q1 2026

Galaxy Digital Inc. Releases Q1 2026 Financial Results

Galaxy Digital Inc. (Nasdaq: GLXY), a key player in the digital asset and data center sectors, announced its financial results for the first quarter ending March 31, 2026. This period was challenging for the company, marked by a significant decline in digital asset prices, which deeply affected its financial metrics.

Financial Overview

In the first quarter of 2026, Galaxy reported a net loss of approximately $216 million, which translates to a diluted adjusted earnings per share (EPS) of $(0.49). This downturn was largely attributed to the ongoing depreciation in digital asset values, with the total crypto market capitalization experiencing a staggering reduction of around 20% during the quarter.

Key Financial Metrics

• - Adjusted Gross Loss: $(88) million
• - Adjusted EBITDA: $(188) million
• - Total Equity: $2.8 billion
• - Cash and Stablecoins: $2.6 billion as of March 31, 2026

Despite these setbacks, Galaxy's digital asset segment managed to sustain an adjusted gross profit of $49 million, indicating resilience in operational income amidst adversity. Their strategy seems focused on managing expenses efficiently, narrowing the adjusted EBITDA loss from previous quarters.

The company anticipates that revenue from its data centers will begin to increase in the upcoming quarters, spurred by the recent delivery of the first data hall to CoreWeave under Phase I of its campus lease agreement.

Corporate Updates

Notable progress has been made in the development of the Helios Data Center campus. Galaxy has successfully transitioned one of its data halls to operational status, signifying a crucial step toward revenue generation. Additionally, the company received ERCOT approval for a substantial increase in power capacity, doubling the Helios campus's total approved capacity to over 1.6 gigawatts.

Significantly, Galaxy repurchased 3.2 million shares of its Class A common stock for $65 million within its share repurchase program, effectively mitigating dilution from employee stock-based compensation issued the previous year.

The management team also reported further corporate updates, including the consolidation of its stock listings, moving entirely to Nasdaq after voluntarily delisting from the Toronto Stock Exchange.

Segment Performance

Galaxy's Digital Assets segment has witnessed flat trading volumes quarter-over-quarter amidst an industry-wide downturn. However, the firm's asset management division noted net inflows of $69 million, showcasing organic growth despite adverse market conditions. There was a 20% decline in the average loan book size due to significant price depreciation in digital assets.

The Data Centers segment generated an adjusted gross profit of $3.1 million, although it saw a notable decrease of 33% compared to the previous quarter. Moving forward, Galaxy is optimistic about scaling its data center operations, expecting improved figures in Q2 2026 as revenue starts to accumulate more evenly across its facilities.

Future Strategy

Looking forward, Galaxy Digital intends to enhance its service offerings within the digital asset sector, particularly exploring new technological innovations and expanding their infrastructure to accommodate the growing demand for data processing, particularly related to AI and high-performance computing workloads.

In conclusion, while Galaxy Digital has faced a challenging market environment during Q1 of 2026, ongoing initiatives to bolster their operational efficiency, combined with progressive developments in their data center projects, position the company for potential recovery in the near future. Investors will closely monitor the outcomes of these strategic efforts in subsequent quarters.

For more detailed insights and updates on future performance, Galaxy Digital will host an investor conference call today, April 28, 2026, at 8:30 AM ET.