Galaxy Digital Inc. (NASDAQ: GLXY), a digital asset and data center infrastructure company, announced on October 27, 2026 net income of $323 million for the third quarter of 2026, compared with a net loss of $85 million in the second quarter. The company also reported its first full quarter of revenue from its Helios data center campus in Texas and approved a new $200 million share repurchase program.

Third Quarter Results

Galaxy reported diluted earnings per share of $0.66 and adjusted earnings per share of $0.83. Adjusted gross profit reached $569 million and adjusted EBITDA came in at $455 million, up from $43 million and a loss of $77 million, respectively, in the prior quarter.

Most of that improvement came from appreciation in the company’s investment portfolio. Its Treasury and Corporate segment, which holds digital assets, equities and fund investments, contributed $419 million of the quarter’s adjusted gross profit. By comparison, net income in the third quarter of 2025 was $505 million.

Total assets rose to $16.4 billion from $10.8 billion at the end of the second quarter, while total equity reached $3.0 billion. In addition, cash, stablecoins and U.S. Treasuries totaled $4.9 billion, nearly double the prior quarter.

Data Centers Contribution

The Data Centers segment generated $79 million in adjusted gross profit and $69 million in adjusted EBITDA. According to Galaxy, the quarter reflected the first full period of revenue under its Helios I, Phase I lease with CoreWeave, which received all 133 MW of critical IT load by the end of the second quarter.

Galaxy completed a $3.5 billion senior secured notes offering to fund Helios I, Phase II, which is under construction. The company expects data hall deliveries to begin in the second quarter of 2027. Meanwhile, it continues discussions with prospective tenants for 830 MW of approved capacity at Helios II that has no tenant yet, and its total gross power pipeline now exceeds 5.7 GW.

The buildout requires heavy spending. Data Centers capital expenditure rose to $757 million in the quarter from $448 million, and the segment’s total liabilities climbed to $5.3 billion.

Digital Assets and Share Repurchases

Digital asset trading volumes grew 12% from the prior quarter, and the average loan book rose 27% to $1.8 billion. Combined assets under management and assets under stake reached $10.4 billion, up 46%. Galaxy also signed a multi-year agreement with BNY to support staking on BNY’s digital asset custody platform.

However, the Digital Assets segment still posted negative adjusted EBITDA of $9 million, compared with negative $11 million in the second quarter.

“Our strategy is centered on two significant opportunities in the global economy: the modernization of financial markets through digital assets and the expansion of AI infrastructure,” said Mike Novogratz, Founder and Chief Executive Officer of Galaxy. The company completed its previous $200 million buyback on October 15 after repurchasing about 9.8 million shares, and its board authorized a new $200 million program on October 26.

Strategic Investment Summary

• Earnings: Galaxy Digital Inc. (NASDAQ: GLXY) reported third quarter 2026 net income of $323 million, compared with a net loss of $85 million in the second quarter.
• Profit Drivers: Adjusted EBITDA reached $455 million, with $395 million coming from the Treasury and Corporate segment.
• Data Centers: The segment produced $69 million in adjusted EBITDA in its first full quarter of CoreWeave lease revenue at Helios.
• Growth Pipeline: Galaxy expects Helios I, Phase II deliveries to begin in the second quarter of 2027, and its total power pipeline exceeds 5.7 GW.
• Balance Sheet: Cash, stablecoins and U.S. Treasuries totaled $4.9 billion, while total equity stood at $3.0 billion.
• Buybacks: The board authorized a new $200 million share repurchase program after Galaxy bought back about 9.8 million shares under its prior plan.

Find out more about the latest corporate developments and financial reports at the Galaxy investor portal.

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