Galaxy Digital Cuts Second-Quarter Net Loss to $85.31 Million as Data Center Unit Turns Profitable

Galaxy Digital reported a second-quarter 2026 net loss of $85.31 million, narrower than the $216.3 million loss in the first quarter, mainly due to falling digital asset prices. According to Foresight News, adjusted EBITDA was a loss of $77.26 million, while total equity reached $2.72 billion and cash and stablecoin holdings totaled $2.459 billion as of June 30.The digital assets division reported adjusted gross profit of $65.71 million, up 34% quarter over quarter, with counterparties rising to 1,741. Average loan balances were $1.438 billion, broadly unchanged from the prior quarter, while new loan origination increased. The company also launched an OTC prediction market product for institutional clients to execute multi-asset hedging strategies tied to event-driven markets.In asset management, assets under management and staked assets fell 12% quarter over quarter to $7.1 billion at the end of the second quarter. The company launched the Galaxy Fintech Fund, a long-short hedge fund, and a tokenized private liquidity fund called SWEEP with State Street.The data center unit posted its first profitable quarter, with adjusted gross profit of $20.14 million and adjusted EBITDA of $11.49 million. The first phase of the Helios data center campus, with 133 MW of critical IT load, was fully delivered to CoreWeave, and Galaxy expects it to generate about $80 million in quarterly lease revenue starting in the third quarter. Project-level adjusted EBITDA margins are expected to exceed 90%.On July 28, Galaxy issued $3.5 billion of senior secured notes through a subsidiary to fund the second phase of Helios. After the quarter ended, the company acquired three new sites in Texas, Merlin, Caspian and Selene, with a combined potential capacity of about 2.1 GW. Galaxy said its overall power pipeline now exceeds 5.7 GW. The company also signed a multi-year agreement with BNY to support staking services on BNY's digital asset custody platform.