Galaxy Digital reported the best quarter in its history, with profit surging 1,546% to $505 million as record trading volumes and treasury gains combined with momentum in its artificial-intelligence infrastructure business.
Core earnings nearly tripled to $629 million from $211 million in the previous quarter, with total assets up 27% to $11.5 billion, according to Tuesday’s report.
Founder and CEO Mike Novogratz said the results capped eight years of building across both crypto markets and physical infrastructure. “We’re half a data-center company and half a digital-assets company,” he told investors. “Helios is the cornerstone of our future.”
Galaxy’s 800-megawatt Helios campus in Texas was once among North America’s largest bitcoin mines, and is now in the process of being refitted for artificial-intelligence workloads under a long-term lease with CoreWeave. The firm closed $1.4 billion in project financing to fully fund its first-phase build and, earlier this month, raised another $460 million to accelerate the conversion.
The move came ahead of last week’s $40 billion BlackRock-Nvidia acquisition of Aligned Data Centers, which valued power capacity about 160% higher than comparable bitcoin miners, a deal that effectively validated Galaxy’s pivot from mining to AI infrastructure.
‘Breakout quarter’
Galaxy’s digital assets division delivered $318 million in adjusted gross profit, driven by a 140% jump in trading volumes and a single $9 billion bitcoin transaction executed for a client. Asset-management inflows also climbed, adding more than $4.5 billion in digital-asset-treasury mandates and pushing total platform assets to $17 billion.
CFO Chris Ferraro called the period “a breakout quarter for Galaxy,” citing record results across the trading and investment business as well as Helios’ progress. Galaxy ended the quarter with $1.9 billion in cash and stablecoins and $3.2 billion in total equity. Revenue from the Helios facility is expected to begin contributing in the first half of 2026, as Galaxy continues to bridge digital-finance infrastructure with the growing demand for AI-compute capacity.
Galaxy shares hit a record high of $44.30 following the results, but have since eased to around $42 according to The Block’s price data. The stock remains up more than 330% since early April, when it traded below $10.
Galaxy Digital stock price. Source: The Block price page
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
