Galaxy Digital posts $216M Q1 loss, expands into AI data centers
6.6 Investments Galaxy Digital posted a $216M Q1 2026 net loss amid a 20% crypto market drop, but beat analyst expectations. The firm expanded into AI data centers and kept strong cash reserves.
Galaxy Digital reported a net loss of $216 million for Q1 2026, primarily driven by a 20% decline in digital asset prices. Despite the loss, the company outperformed analyst expectations, posting a loss per share of $0.49 versus the forecasted $0.59. Revenue fell to $10.2 billion from $12.9 billion year-over-year, and total assets decreased to $10 billion by quarter’s end. The firm maintained stable cash and stablecoin reserves at $2.6 billion, while net digital asset holdings dropped 19% to $1.4 billion. Operating expenses were $147 million, a 7% decrease from the previous quarter. Galaxy Digital delivered its first data hall at the Helios campus in Texas to CoreWeave and received approval to more than double Helios’ capacity to over 1.6 gigawatts, marking a strategic expansion into AI infrastructure. Additionally, the company completed its voluntary delisting from the Toronto Stock Exchange, consolidating its listing on Nasdaq. Preliminary Q2 results suggest an estimated $90 million in adjusted EBITDA, indicating potential improvement ahead.
