Galaxy Digital has recorded a net loss of $85 million for the second quarter of 2026, mostly as a result of falling cryptocurrency prices. Galaxy cited expansion in its AI data centre and digital asset activities as evidence that its business model is becoming less dependent on cryptocurrency pricing and more diverse.
Source: investor.galaxy.com
The drop in bitcoin values between April and June was the fundamental reason for the company’s $0.09 per share quarterly loss.
LATEST: 📊 Galaxy Digital posted an $85M net loss in Q2 as crypto prices fell, with revenue of $8.7B missing Wall Street’s $12.7B estimate. pic.twitter.com/ipzqF8prqS
— CoinMarketCap (@CoinMarketCap) August 6, 2026
In the first quarter of 2026, Galaxy’s revenues dropped 15% to $8.7 billion from $10.2 billion. This was also less than experts’ average estimate of $12.7 billion, according to Yahoo Finance. As investors considered the impact of reduced digital asset prices on the firm, Galaxy’s shares fell 6.2% in pre-market trading to around $20.70, adding to a nearly 10% decrease over the previous month.
Despite the overall defeat, Galaxy showed several encouraging outcomes. For the quarter, its digital asset division generated an adjusted gross profit of $66 million and an adjusted EBITDA of $11 million. Despite a tougher market, the company’s core businesses remained robust, as seen by the adjusted gross profit, which increased by 34% over the prior quarter.
According to the firm, these findings demonstrate that its profits are becoming less reliant on fluctuations in bitcoin values and more diverse. This performance was referred to by management as evidence of the effectiveness of its overarching business plan.
A significant contribution outside of cryptocurrency trading came from Galaxy’s expanding artificial intelligence infrastructure business. As it continues to supply cloud computing business CoreWeave with additional capacity, the company recorded $20 million in adjusted gross profit from its AI data centre activities this quarter.
As the need for AI infrastructure grows, Galaxy has been making large investments in this field.
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