Key Takeaways
- • Galaxy Digital delivered record Q3 2025 results with $505 million net income, $1.01 diluted EPS, and $629 million adjusted EBITDA, driven by exceptional performance in digital assets trading and investment gains.
- • Digital asset trading volumes surged 140% quarter-over-quarter, highlighted by the sale of over 80,000 bitcoin on behalf of a client, with total assets on platform reaching an all-time high of approximately $17 billion.
- • Galaxy secured $1.4 billion in project financing to fully fund the $1.7 billion Phase I build of its Helios data center campus in Texas, with CoreWeave exercising its final option to access an additional 133 MW, bringing total commitment to the full 800 MW approved power capacity.
- • Balance sheet strength reflected in $3.2 billion total equity and $1.9 billion in cash and stablecoins as of September 30, 2025, positioning the company for continued infrastructure expansion and strategic investment.
- • Galaxy launched GalaxyOne on October 6, 2025, a financial technology platform providing U.S. institutional access to digital asset solutions including trading, advisory, asset management, and tokenization technology.
Summary
Galaxy Digital Inc. (NASDAQ: GLXY; TSX: GLXY) announced exceptional third quarter 2025 financial results on October 21, 2025, with CEO Michael Novogratz and management hosting an 8:30 AM Eastern Time investor call to discuss performance and corporate initiatives. The company reported net income of $505 million, diluted earnings per share of $1.01, and adjusted earnings per share of $1.12 for the quarter, representing record profitability driven by strong digital assets operations and gains on investment positions.
The Digital Assets operating business achieved record quarterly results, generating approximately $295 million in adjusted gross profit from healthy trading activity. Digital asset trading volumes increased 140% compared to Q2 2025, reflecting elevated spot and derivatives activity alongside a significant client transaction involving the sale of more than 80,000 bitcoin. Total assets on platform reached an unprecedented $17 billion by quarter-end, underscoring Galaxy's institutional market position and growing client base.
Galaxy's infrastructure expansion accelerated with the execution of a Phase II lease agreement with CoreWeave for the Helios data center development in Texas. CoreWeave exercised its final option to access an additional 133 MW of critical IT load for artificial intelligence and high-performance computing operations, bringing its total commitment to the full 800 MW of approved power capacity. The company secured a $1.4 billion project financing facility, fully funding the $1.7 billion Phase I build—a critical milestone demonstrating institutional confidence in Galaxy's data center infrastructure strategy and positioning the company among North America's largest and fastest-growing data center developments.
Financial positioning strengthened considerably, with total equity of $3.2 billion and holdings of $1.9 billion in cash and stablecoins as of September 30, 2025. On October 6, 2025, Galaxy launched GalaxyOne, a financial technology platform providing U.S. institutional clients with access to trading, advisory, asset management, staking, self-custody, and tokenization technology—expanding the company's service offerings across the digital asset ecosystem. The live webcast and replay were made available at investor.galaxy.com and Galaxy's YouTube channel, providing transparency to institutional investors and analysts tracking the company's dual growth strategy in digital assets and high-performance computing infrastructure.
The Digital Assets operating business achieved record quarterly results, generating approximately $295 million in adjusted gross profit from healthy trading activity. Digital asset trading volumes increased 140% compared to Q2 2025, reflecting elevated spot and derivatives activity alongside a significant client transaction involving the sale of more than 80,000 bitcoin. Total assets on platform reached an unprecedented $17 billion by quarter-end, underscoring Galaxy's institutional market position and growing client base.
Galaxy's infrastructure expansion accelerated with the execution of a Phase II lease agreement with CoreWeave for the Helios data center development in Texas. CoreWeave exercised its final option to access an additional 133 MW of critical IT load for artificial intelligence and high-performance computing operations, bringing its total commitment to the full 800 MW of approved power capacity. The company secured a $1.4 billion project financing facility, fully funding the $1.7 billion Phase I build—a critical milestone demonstrating institutional confidence in Galaxy's data center infrastructure strategy and positioning the company among North America's largest and fastest-growing data center developments.
Financial positioning strengthened considerably, with total equity of $3.2 billion and holdings of $1.9 billion in cash and stablecoins as of September 30, 2025. On October 6, 2025, Galaxy launched GalaxyOne, a financial technology platform providing U.S. institutional clients with access to trading, advisory, asset management, staking, self-custody, and tokenization technology—expanding the company's service offerings across the digital asset ecosystem. The live webcast and replay were made available at investor.galaxy.com and Galaxy's YouTube channel, providing transparency to institutional investors and analysts tracking the company's dual growth strategy in digital assets and high-performance computing infrastructure.
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