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Galaxy Digital Reports Financial Performance for Q4 and Full Year 2025

Galaxy Digital Inc. has recently disclosed its financial results for the fourth quarter and the entire year of 2025. As one of the leading entities in the digital asset ecosystem, Galaxy's performance during this period illustrates the impact of market fluctuations and strategic adjustments made by the company.

Financial Summary

In Q4 2025, Galaxy reported a net loss of $482 million, with a diluted earnings per share (EPS) of $(1.08). This stark decline corresponds to the depreciation of digital asset prices, which affected many players in the cryptocurrency sector. For the full year, the company recorded a net loss of $241 million, indicating a tough year with similar challenges, particularly marked by approximately $160 million attributed to one-off costs throughout the year.

Despite these setbacks, Galaxy showcased some positive indicators; the full year's adjusted gross profit reached $426 million, while adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to $34 million. Notably, as of December 31, 2025, Galaxy’s total equity stood at an impressive $3 billion and cash, along with stablecoin holdings, were reported at $2.6 billion.

2025 Highlights

Strategic Developments

During 2025, Galaxy underwent significant transformations, including the successful reorganization into a Delaware-incorporated entity which allowed it to trade on Nasdaq. This strategic move marks an essential step towards enhancing its operational efficiency and market visibility.

In Global Markets, Galaxy achieved record trading volumes and advisory fees, including executing one of the largest notional bitcoin transactions in history. In its Asset Management segment, the company saw total assets on its platform climaxing at $12 billion, underpinned by a robust inflow of $2 billion, translating to 34% organic growth.

Moreover, Galaxy expanded its staking platform by integrating with five leading global custodians, an essential step in broadening its service offerings and positioning itself as a significant player within the staking sector.

Data Center Advancements

Galaxy's Helios Data Center campus is on track to deliver vital IT load capacity to CoreWeave, as part of its ongoing development. In January 2026, the company announced the successful completion of ERCOT Interconnection Studies, which granted approval for an additional capacity of 830 MW, doubling its total approved power capacity to over 1.6 gigawatts. This elicits confidence in Galaxy’s ability to meet the ever-increasing infrastructure demands of modern digital operations.

Analysis of Financial Metrics

During Q4 performance was notably impacted by a 24% decrease in total cryptocurrency market capitalization, which reflects a broader trend of declining market activity. Specifically, digital asset trading volumes fell by 40% compared to the previous quarter, leading to reduced trading activity from clients.

Despite challenges, the average loan book size maintained marginal growth, suggesting resilient client demand and ongoing business operations.

For the Asset Management division, adjusted gross profit reached $21 million in Q4, despite a decline from the prior quarter due to market conditions. ETF and alternative assets also showed a slight dip, which reiterates the volatility prevalent in the digital assets markets.

Future Outlook

Looking ahead, Galaxy is poised for continued growth. With equity capital increasing by 38% year-over-year and total assets surging by 59%, the company is in a strong position to leverage its core offerings in digital assets and data center infrastructure. This includes anticipated advancements within its staking protocol and ongoing partnerships within the cryptocurrency and blockchain sectors. Moreover, Galaxy has committed to investing in innovative projects that promise to optimize efficiency and elevate its service portfolio.

In conclusion, while 2025 proved to be a challenging year for Galaxy Digital due to changing market dynamics, its strategic maneuvers and robust underlying fundamentals suggest that the company is well-equipped to navigate future market fluctuations and emerge stronger from the industry’s ongoing evolution.