Galaxy Digital Reports $85M Q2 Loss Amid Crypto Market Decline

Galaxy Digital reported an $85 million net loss for the second quarter of 2026 as cryptocurrency valuations declined during the period. The company posted a $0.09 loss per share on Wednesday, which Galaxy attributed to the depreciation of digital asset prices during the quarter. The total crypto market capitalization fell nearly 15% during the quarter, to $2 trillion on June 30 from $2.35 trillion on April 1, according to CoinMarketCap data.

Galaxy Digital Posts $85M Q2 Loss on Crypto Decline

Galaxy Digital's revenue reached $8.7 billion for the second quarter of 2026, down 15% from $10.2 billion in the first quarter of 2026. Analysts had forecast a consensus of $12.7 billion, according to estimates compiled by Yahoo Finance. Galaxy's shares fell 6.2% in premarket activity on Wednesday to $20.70, set to extend a nearly 10% decline over the past month.

Despite the quarterly loss, the company reported that digital assets generated adjusted gross profit of $66 million and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of -$11 million, marking a 34% quarter-over-quarter increase in adjusted gross profit. Galaxy stated this reflects the "resilience of our business model and further demonstrates that our earnings are becoming less dependent on the direction of digital asset prices."

AI Data Centers Generate $20M Adjusted Gross Profit

The company reported generating adjusted gross profit of $20 million from AI data centers during the quarter, as it ramped up capacity delivery to CoreWeave. Galaxy expects $1 billion in annual revenue from its 15-year partnership with CoreWeave. The company secured $1.4 billion to expand its Texas Helios AI data center in August 2024.

FAQ

What was Galaxy Digital's financial performance in Q2 2026? Galaxy Digital reported an $85 million net loss for the second quarter of 2026, with a $0.09 loss per share. Revenue reached $8.7 billion, down 15% from $10.2 billion in the first quarter of 2026.

Why did Galaxy Digital report a loss in Q2 2026? Galaxy attributed the loss to the depreciation of digital asset prices during the quarter. The total crypto market capitalization fell nearly 15% during the quarter, to $2 trillion on June 30 from $2.35 trillion on April 1.

How much revenue did Galaxy Digital generate from AI data centers? Galaxy reported generating adjusted gross profit of $20 million from AI data centers during the quarter, as it ramped up capacity delivery to CoreWeave. The company expects $1 billion in annual revenue from its 15-year partnership with CoreWeave.