Key Takeaways
- • Galaxy Digital (Nasdaq: GLXY) reported Q3 2026 net income of $323 million, diluted EPS of $0.66 and adjusted EPS of $0.83, versus a net loss of $85 million in Q2 2026.
- • Adjusted EBITDA reached $455 million in Q3 2026, driven largely by Treasury & Corporate adjusted EBITDA of $395 million, while Data Centers adjusted EBITDA rose 498% quarter-over-quarter to $69 million.
- • Galaxy closed Q3 2026 with total equity of $3.0 billion and $4.9 billion in cash, stablecoins and U.S. Treasuries, and its board approved an additional $200 million share repurchase authorization.
- • Galaxy completed a $3.5 billion senior secured notes offering to fund construction of Helios I, Phase II, and expanded its total gross power pipeline to over 5.7 GW.
- • Combined assets under management and assets under stake reached $10.4 billion, up 46% quarter-over-quarter, following the launch of the Galaxy Sharplink Onchain Yield Fund.
Summary
Galaxy Digital Inc. (Nasdaq: GLXY) released its financial results for the three and nine months ended September 30, 2026, in a press release dated October 27, 2026. Founder and Chief Executive Officer Mike Novogratz described the quarter as strong, citing the established Digital Assets franchise, significant appreciation across the investment portfolio, and the growing contribution from the Data Centers business. He framed the company's strategy around two opportunities: the modernization of financial markets through digital assets and the expansion of AI infrastructure.
Q3 2026 net income was $323 million, compared with a net loss of $85 million in Q2 2026. Total assets rose 51% quarter-over-quarter to $16.4 billion, and total equity rose 10% to $3.0 billion. Cash, stablecoins and U.S. Treasuries totaled $4.9 billion, up 99% from $2.5 billion. Adjusted gross profit was $569 million and adjusted EBITDA was $455 million. Galaxy repurchased 9.8 million shares year-to-date, more than offsetting equity-based compensation dilution.
In Digital Assets, adjusted gross profit rose to $71 million from $66 million. Global Markets trading volumes grew 12% quarter-over-quarter, which the company said outperformed the broader spot market, where volumes declined according to The Block data cited in the release. Average loan book size increased 27% to $1.8 billion, driven by demand for the Galaxy Onchain Financing Rate. Asset Management generated more than $160 million of net inflows, aided by the end-of-quarter launch of the Galaxy Sharplink Onchain Yield Fund, an institutional vehicle investing in DeFi liquidity protocols and other onchain yield strategies. Galaxy also entered a multi-year agreement with BNY, which oversees more than $60 trillion in assets under custody, to support staking on BNY's Digital Asset Custody platform and serve as a design partner.
The Data Centers segment generated adjusted gross profit of $79 million and adjusted EBITDA of $69 million, reflecting the first full quarter of revenue-generating operations under the Helios I, Phase I lease with CoreWeave, where all 133 MW of critical IT load was delivered by the end of Q2. Helios I, Phase II is fully financed and under construction, with data hall deliveries scheduled to begin in Q2 2027. Galaxy is in discussions with prospective tenants for the 830 MW of approved capacity at Helios II not yet under lease. Total gross power pipeline expanded to over 5.7 GW. Data Centers quarterly capital expenditure was $757 million.
Q3 2026 net income was $323 million, compared with a net loss of $85 million in Q2 2026. Total assets rose 51% quarter-over-quarter to $16.4 billion, and total equity rose 10% to $3.0 billion. Cash, stablecoins and U.S. Treasuries totaled $4.9 billion, up 99% from $2.5 billion. Adjusted gross profit was $569 million and adjusted EBITDA was $455 million. Galaxy repurchased 9.8 million shares year-to-date, more than offsetting equity-based compensation dilution.
In Digital Assets, adjusted gross profit rose to $71 million from $66 million. Global Markets trading volumes grew 12% quarter-over-quarter, which the company said outperformed the broader spot market, where volumes declined according to The Block data cited in the release. Average loan book size increased 27% to $1.8 billion, driven by demand for the Galaxy Onchain Financing Rate. Asset Management generated more than $160 million of net inflows, aided by the end-of-quarter launch of the Galaxy Sharplink Onchain Yield Fund, an institutional vehicle investing in DeFi liquidity protocols and other onchain yield strategies. Galaxy also entered a multi-year agreement with BNY, which oversees more than $60 trillion in assets under custody, to support staking on BNY's Digital Asset Custody platform and serve as a design partner.
The Data Centers segment generated adjusted gross profit of $79 million and adjusted EBITDA of $69 million, reflecting the first full quarter of revenue-generating operations under the Helios I, Phase I lease with CoreWeave, where all 133 MW of critical IT load was delivered by the end of Q2. Helios I, Phase II is fully financed and under construction, with data hall deliveries scheduled to begin in Q2 2027. Galaxy is in discussions with prospective tenants for the 830 MW of approved capacity at Helios II not yet under lease. Total gross power pipeline expanded to over 5.7 GW. Data Centers quarterly capital expenditure was $757 million.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.