Galaxy Digital in Focus After Q2 Miss, New $125 Million Sharplink Partnership

Galaxy Digital Inc. ) stays in the spotlight Monday as investors weigh its $125 million onchain yield fund alongside Sharplink, coming on the heels of its second-quarter earnings report .Galaxy Digital stock is moving in positive territory. Galaxy, Sharplink Roll Out Institutional Onchain Yield FundGalaxy Digital and Sharplink Inc. launched the Galaxy Sharplink Onchain Yield Fund, a first-of-its-kind institutional investment vehicle designed to deploy capital into decentralized finance and onchain yield strategies. The fund launched with $125 million in committed capital, including $100 million backed by Sharplink’s staked ETH treasury and $25 million from Galaxy. The fund is managed by Galaxy and represents the first institutional grade, scaled onchain strategy on the company’s asset management platform.“We’re entering a new phase of institutional adoption, with capital moving from passive ownership to active participation in blockchain-based markets,” said Mike Novogratz, Founder and CEO of Galaxy. “This Fund reflects that shift by pairing Sharplink’s substantial ETH treasury with Galaxy’s institutional investment platform to access opportunities across the onchain economy through a disciplined investment approach.”Galaxy Q2: $85M Net Loss on Crypto Slide; Data Center Hits $20M Gross ProfitGalaxy reported second-quarter adjusted loss of 9 cents per share, in line with the consensus estimate. Revenue came in at $8.557 billion, missing the consensus estimate of $11.628 billion. The company posted a net loss of $85 million, driven primarily by the depreciation of digital asset prices during the quarter.Total equity stood at $2.7 billion, with cash and stablecoin holdings of $2.5 billion as of June 30. Data center operations posted their first revenue-generating quarter, with $20 million in adjusted gross profit following delivery of 133 megawatts of critical IT load to CoreWeave at the company’s Helios campus. Read Also: Galaxy Share Price ActivityGLXY Price Action: At the time of publication, Galaxy shares are trading 0.40% lower at $20.09, according to data from Benzinga Pro.Image via Shutterstock