Galaxy Stock Drops on Disappointing Q2 Revenue Despite Data Center Momentum

Galaxy Digital Inc ) shares retreating Wednesday after the digital asset and data center company posted second-quarter revenue that came in below what analysts had anticipated. Here’s .Galaxy Digital stock is showing notable weakness. Wide Revenue Miss Drives Sell-OffSecond-quarter revenue of approximately $8.56 billion came in 26.4% beneath the $11.63 billion consensus estimate and represented a 1.2% contraction from the $8.66 billion the company generated in the comparable period a year earlier.Net loss for the quarter totaled $85 million, resulting in an adjusted loss per share of 9 cents, a figure that matched the analyst estimate but marked a dramatic reversal from the 8 cent per share profit delivered in the second quarter of 2025.Weakness in digital asset valuations throughout the period was the primary force behind the deterioration, with the Treasury and Corporate segment absorbing an adjusted gross loss of $42 million and adjusted EBITDA of negative $78 million as unrealized losses on cryptocurrency and investment holdings accumulated.Galaxy Accelerates Its Data Center BuildoutThe company moved aggressively to expand its infrastructure footprint in the weeks following quarter’s end. Three new Texas sites were acquired for AI data center development, lifting Galaxy’s total power pipeline to more than 5.7 gigawatts. One of the acquisitions, a 500-acre parcel at the McGregor Industrial Park designated as the Merlin campus, secured initial support for 74 megawatts of capacity with a contractual pathway to reach 500 megawatts.Two additional sites, named Caspian and Selene, carry potential power capacities of approximately 700 megawatts and 900 megawatts respectively, contingent on ERCOT’s interconnection review.Galaxy’s data center business generated $20 million of adjusted gross profit and $11 million of adjusted EBITDA in the second quarter.“Q2 marked the segment’s first quarter of revenue-generating operations, as Phase I data hall delivery ramped throughout the quarter, with all 133 MW of critical IT load under the Phase I lease in service by quarter end. With the full 133 MW now delivered, due to contracted payments, Galaxy expects Phase I to generate quarterly leasing revenue of approximately $80 million and expected quarterly project-level Adjusted EBITDA margin of over 90% beginning in Q3 2026,” the company said.GLXY Shares Are TumblingGLXY Price Action: were down 12.42% at $19.39 at the time of publication on Wednesday, according to Benzinga Pro. Read Also: Blue Owl Taps Ex-Barclays Executive to Accelerate Japan Private Markets Push Image: Shutterstock