Galaxy reports $85M net loss amid Q2 crypto market slump
Galaxy Digital reported an $85 million net loss driven by falling digital asset prices and $8.7 billion in revenue that missed Wall Street estimates.
Galaxy Digital posted a $85 million net loss for Q2 2026 due to falling digital asset prices, despite generating $8.7 billion in revenue – a 15% decrease from the prior quarter. Analysts had forecast a higher revenue of $12.7 billion for the period. The company's shares dropped 6.2% in premarket trading, marking a nearly 10% decline over the past month.
Cryptocurrency valuations declined throughout the quarter, leading to a $0.09 loss per share. Despite the loss, Galaxy reported $66 million in adjusted gross profit and $11 million in adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), marking a 34% quarter-over-quarter increase. This growth suggests the company's business model is less reliant on digital asset prices.
The company also generated $20 million in adjusted gross profit from its AI data centers, driven by capacity expansion for CoreWeave. Galaxy anticipates $1 billion in annual revenue from its 15-year partnership with CoreWeave, having secured $1.4 billion to expand its Texas Helios AI data center.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
