Galaxy Digital posts Q2 net loss

OverviewUS digital asset and data center operator reported Q2 net loss, driven by digital asset price declinesCompany expanded Texas data center footprint with three new site acquisitions after quarter-endCompleted $3.5 bln senior secured note offering to fund Helios campus Phase II constructionOutlookGalaxy expects Helios Phase I to generate $80 mln in quarterly leasing revenue from Q3 2026Galaxy advancing construction on Helios Phase II, with data hall deliveries expected to begin Q2 2027Result DriversDIGITAL ASSET PRICE DECLINES - Co said Q2 net loss was driven primarily by depreciation of digital asset pricesDATA CENTER LEASING RAMP-UP - Data Centers generated revenue as capacity delivery to CoreWeave ramped throughout the periodUNREALIZED LOSSES - Treasury & Corporate segment posted losses mainly from unrealized losses on digital assets and investment positionsCompany press release:Key DetailsMetricBeat/MissActualConsensus EstimateQ2 Adjusted Loss Per Share$0.09Q2 Net Loss$85 mlnAnalyst CoverageThe current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"The average consensus recommendation for the investment banking & brokerage services peer group is "buy"Wall Street's median 12-month price target for Galaxy Digital Inc is $40.00, about 80.7% above its August 4 closing price of $22.14Reuters Recommended ReadsAug 3 - Trump brothers-backed American Bitcoin swings to second-quarter lossAug 4 - AI data-centre race builds $1 trillion lease burden for Big TechAug 5 - Iron Mountain Q2 revenue beats on strong data center demandFor questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .