Galaxy Digital posts $85M Q2 loss as crypto rout hits revenue hard. Verified 36 votes Distributed & Cloud Computing Updated 7 hours ago Galaxy Digital had a rough quarter. The firm posted an $85 million net loss for Q2 2026, driven almost entirely by falling cryptocurrency prices that hammered valuations across its digital asset holdings. Revenue came in at $8.7 billion - a miss by any measure, given Wall Street had penciled in $12.7 billion. Discover more Brokerages & Day Trading Politics (Right) The numbers landed Wednesday. Revenue dropped 15% from $10.2 billion in Q1, and the net loss worked out to $0.09 per share. Analysts weren't kind about it. The gap between the $12.7 billion estimate and the actual $8.7 billion print is pretty hard to spin, and the market didn't bother trying. Galaxy shares fell 6.2% in premarket trading, hitting $20.70. That's on top of a near 10% slide already logged over the prior month. Not a great run. Merchant Services & Payment Systems Crypto market dropped 15% by June 30. The broader crypto market didn't help. Total market capitalization fell nearly 15% during the quarter, sliding from $2.35 trillion on April 1 to roughly $2 trillion by June 30. That kind of move hits a firm like Galaxy hard when a chunk of its balance sheet is tied to digital assets whose prices basically set the floor for earnings. But it's not all bad. Galaxy did manage an adjusted gross profit of $66 million for the quarter, and adjusted EBITDA came in at $11 million. The gross profit figure was actually 34% higher than the previous quarter - which is a strange thing to say about a quarter with an $85 million net loss, but that's kind of where Galaxy is right now. The company has been pushing hard to separate its profitability story from the day-to-day swings in crypto prices, and the adjusted numbers suggest that effort isn't totally failing. Digital Currencies Galaxy's own framing leaned into that point. The company said its business model is less dependent on market volatility than the headline loss makes it look. Whether investors buy that framing is another question - the premarket drop says plenty. CoreWeave deal and the Texas Helios bet. The clearest sign of where Galaxy wants to go is its AI data center push. The company pulled in $20 million in adjusted gross profit from AI data center operations in Q2 alone, as it ramped up capacity delivery for CoreWeave. And the numbers attached to that partnership are big. Galaxy is projecting $1 billion in annual revenue from the 15-year CoreWeave deal. That's the kind of recurring, long-duration revenue stream that looks very different from riding Bitcoin up and down every quarter. Discover more Financial Markets News Currencies & Foreign Exchange To back that up, Galaxy secured $1.4 billion to expand the Texas Helios AI data center. The scale of that commitment is worth sitting with for a second - $1.4 billion is a serious infrastructure bet, and it's aimed squarely at building out the physical capacity needed to meet AI compute demand. CoreWeave, for its part, is a significant player in the GPU cloud and AI infrastructure space, so the partnership isn't a stretch. It probably makes sense for both sides. The Helios expansion fits into a pattern. Galaxy has been quietly building an argument that it's not just a crypto firm anymore - it's an infrastructure company that happens to also trade digital assets. The AI data center revenue, still relatively small at $20 million in adjusted gross profit for the quarter, is meant to grow into something that can cushion the blow when crypto prices drop 15% in a single quarter. Merchant Services & Payment Systems That cushion isn't fully built yet. The Q2 loss makes that clear. Still, the trajectory on the AI side seems to be moving in the right direction. Capacity delivery to CoreWeave is expanding, the 15-year contract gives long-term revenue visibility that's basically absent on the crypto trading side, and the $1.4 billion secured for Helios means the infrastructure buildout has funding behind it. Whether the timeline lines up with what investors want to see is unclear, and no one gave a specific date for when AI revenue would become large enough to offset a bad crypto quarter. The $20 million in Q2 AI gross profit is a start. But $20 million against an $85 million net loss is still a gap. Digital Currencies Galaxy's Q2 report is basically two stories running at the same time. One is a crypto firm getting hit by a market-wide downturn, missing revenue estimates by a wide margin, and watching its stock slide. The other is an infrastructure company slowly building a data center business that could, eventually, change how the whole earnings picture looks. Right now, the first story is louder. Adjusted EBITDA for the quarter: $11 million. Adjusted gross profit: $66 million, up 34% from Q1. AI data center adjusted gross profit: $20 million. Net loss: $85 million. Revenue: $8.7 billion. Frequently asked questions. What caused Galaxy Digital's $85 million net loss in Q2 2026? How much does Galaxy expect to earn from its CoreWeave partnership? Community Trust Index High Confidence Real89% 11%Fake 36 community signals Post Views: 31

Galaxy Digital (GLXY) stock: falls over 13% as Q2 net loss overshadows AI data center growth. Galaxy Digital stock fell over 13% after Q2 results as an $85M net loss offset Helios data center revenue and AI expansion. Tldr. * Galaxy Digital stock dropped more than 13% after reporting an $85 million second-quarter net loss. * Helios Phase I generated its first revenue and is expected to deliver $80 million quarterly from Q3. * Digital assets adjusted gross profit rose 34% despite a 7% decline in trading volume. * Galaxy raised $3.5 billion to fund Helios Phase II and expanded its AI pipeline to 5.7 GW. * CEO Mike Novogratz said the Helios campus is now generating cash flow as leasing discussions continue. Galaxy Digital (GLXY) shares fell more than 13% after the company reported second-quarter results that included an $85 million net loss. Despite weaker digital asset prices, the company posted stronger operating performance and generated revenue from its Helios data center business for the first time. Galaxy reports narrower loss as digital assets business improves. Galaxy Digital reported an $85 million net loss for the second quarter, improving from a $216 million loss in the previous quarter. The adjusted diluted loss narrowed to $0.09 per share from $0.49, beating analyst expectations of a $0.28 loss per share. The company said weaker digital asset prices weighed on treasury and corporate results, which posted a $42 million adjusted gross loss driven by unrealized losses on digital assets and investment positions. Adjusted EBITDA also improved to a loss of $77 million compared with a $188 million loss in the first quarter. Galaxy's digital assets segment delivered stronger operating performance despite softer market conditions. Adjusted gross profit from the business rose 34% quarter over quarter to $66 million, even as trading volume declined by 7%. Shares reacted negatively following the earnings release, with the stock falling more than 13% during the trading session to close near $19.07. Investors appeared to focus on the quarterly loss and the absence of additional data center lease announcements. Helios Data center generates revenue as AI expansion continues. Galaxy's Helios campus in West Texas generated revenue for the first time after Phase I entered commercial operations. The business produced $20 million in adjusted gross profit and $11 million in adjusted EBITDA during the quarter after delivering 200 megawatts of gross power, including 133 megawatts of critical IT capacity, to CoreWeave under a 15-year lease. The company expects Helios Phase I to generate approximately $80 million in quarterly leasing revenue beginning in the third quarter. CEO Mike Novogratz said, "This quarter, both sides delivered. The [Helios] campus is now generating cash flow." Novogratz also stated, "Crypto bear markets are the best time to build," while noting continued institutional demand for AI and digital asset infrastructure. Galaxy expanded its AI infrastructure pipeline by acquiring three additional development sites in Texas. The company said these projects increase its potential power capacity to more than 5.7 gigawatts. Financing supports next Phase of expansion. Galaxy recently completed a $3.5 billion private offering of senior secured notes through its subsidiary, Galaxy Helios Data Centers II LLC. The proceeds will fund construction of Helios Phase II and support continued expansion of its AI infrastructure business. The financing increased Galaxy's total debt to more than $6 billion. The company also said discussions continue with prospective tenants for another 830 megawatts of approved capacity at the Helios campus, although no new lease agreements were announced during the quarter. Bloomberg previously reported that CEO Mike Novogratz expected the remaining capacity at the Texas campus to be leased before the end of the summer. Galaxy confirmed that negotiations with potential customers remain ongoing while continuing construction and site development. The company said its operating businesses generated $86 million in adjusted gross profit and $1 million in adjusted EBITDA during the quarter. Management added that the business is becoming "less dependent on the overall direction of the market," as AI infrastructure contributes a larger share of earnings alongside its digital asset operations. Stop guessing and start investing with confidence. KnockoutStocks gives you the AI insights, market intelligence, and stock research you need to spot opportunities, cut through the noise, and make smarter investment decisions - all in one powerful platform. Simply use coupon code SPECIAL50 at checkout to claim your exclusive discount. Limited Time Offer Get 3 free stock ebooks. Discover top-performing stocks in AI, Crypto, and Technology with expert analysis. * Top 10 AI Stocks - Leading AI companies * Top 10 Crypto Stocks - Blockchain leaders * Top 10 Tech Stocks - Tech giants

Galaxy Digital (GLXY) stock plummets 13% despite data center revenue milestone. Key highlights. Table of Contents * GLXY shares dropped 13.46% following an $85 million quarterly deficit. * The digital asset firm recorded an $85 million net loss amid declining crypto valuations. * New data center revenue from Helios emerged, though crypto headwinds dominated results. * Phase I of Helios is projected to deliver approximately $80 million in quarterly leasing income. * Strategic acquisitions in Texas pushed Galaxy's data center power capacity pipeline past 5.7 GW. Shares of Galaxy Digital tumbled 13.46% to close at $19.16 following consecutive morning declines. The firm disclosed an $85 million net deficit for the period as weakening digital currency valuations pressured its treasury holdings. Galaxy operates across digital asset services and data infrastructure, with the latter delivering inaugural revenue contributions this quarter. Quarterly deficit narrows from prior period. Galaxy disclosed an $85 million second-quarter net deficit, marking an improvement from the $216 million shortfall recorded in the preceding quarter. Adjusted EBITDA came in at negative $77 million, while adjusted gross profit climbed to $43 million. The firm also posted diluted and adjusted earnings per share of negative $0.09. Overall assets expanded 9% sequentially to reach $10.84 billion as of June 30. Total equity contracted 2% to $2.72 billion over the same timeframe. Holdings in cash and stablecoins decreased 6% to $2.46 billion. The Digital Assets division delivered $66 million in adjusted gross profit, marking a 34% sequential increase. Global Markets produced $49 million despite trading volumes slipping 7% from the previous quarter. Average lending balances edged higher to $1.44 billion, while active trading counterparties grew 3% to 1,741. Helios campus delivers initial infrastructure revenue. Galaxy's Data Centers division produced $20 million in adjusted gross profit throughout the second quarter. The segment also generated $11 million in adjusted EBITDA after posting a modest deficit in the opening quarter. These figures represent the division's inaugural period with operational revenue streams. Galaxy provisioned 133 megawatts of mission-critical computing infrastructure to CoreWeave at its Helios facility. The firm completed this initial phase according to schedule under a 15-year lease arrangement. Galaxy anticipates roughly $80 million in quarterly lease payments from this phase starting in the third quarter. The company also projects project-level adjusted EBITDA margins exceeding 90% from the operational capacity. The Treasury and Corporate segment registered a $42 million adjusted gross deficit. Unrealized losses spanning digital currencies and equity investments fueled that division's negative $78 million adjusted EBITDA. Strategic Texas acquisitions broaden data center footprint. Galaxy amplified its Texas data infrastructure pipeline following quarter-end through strategic acquisitions. The firm secured three development locations and elevated its potential power capacity pipeline beyond 5.7 gigawatts. These initiatives address escalating demand for hyperscale computing and premium infrastructure solutions. At McGregor Industrial Park, Galaxy is developing the Merlin campus spanning 500 acres. Current agreements support 74 megawatts, with potential transmission enhancements enabling expansion to 500 megawatts. Galaxy additionally secured the Caspian and Selene properties, featuring potential capacities of 700 and 900 megawatts respectively. Galaxy initiated construction on Helios Phase II, targeting an additional 260 megawatts of critical computing infrastructure. The firm anticipates beginning data hall deliveries in the second quarter of 2027. Galaxy also secured $3.5 billion through senior secured notes to finance subsequent construction phases. Limited Time Offer Get 3 free stock ebooks. Discover top-performing stocks in AI, Crypto, and Technology with expert analysis. * Top 10 AI Stocks - Leading AI companies * Top 10 Crypto Stocks - Blockchain leaders * Top 10 Tech Stocks - Tech giants