Galaxy Digital reported a net loss of 216 million dollars for the first quarter of 2026, showing improvement from the 295 million dollar loss recorded a year earlier, even as declining cryptocurrency prices continued to weigh on performance.
Revenue for the period ending March 31 reached 10.04 billion dollars, down from 12.98 billion dollars in the same quarter last year, reflecting reduced market activity and weaker digital asset valuations.
Earnings Overview
The company linked its results primarily to a broader downturn in the crypto market, which led to unrealized losses across its investment portfolio. Adjusted EBITDA came in at a loss of 188 million dollars, while adjusted gross loss totaled 88 million dollars, according to its official statement.
Within its digital assets division, Galaxy posted 49 million dollars in adjusted gross profit, although the segment recorded a negative adjusted EBITDA of 19 million dollars. Trading volumes remained relatively stable compared to the previous quarter despite a wider decline across the industry. Meanwhile, the average loan portfolio dropped by 20 percent to 1.4 billion dollars due to falling asset prices and reduced borrowing demand.
The asset management and infrastructure solutions unit generated 18 million dollars in adjusted gross profit. Assets under management stood at approximately 5 billion dollars, while staked assets reached 3.2 billion dollars by quarter end, both declining from the previous quarter due to market depreciation.
Even so, the firm recorded 69 million dollars in net inflows during the period. The treasury and corporate segment reported an adjusted gross loss of 140 million dollars alongside an adjusted EBITDA loss of 167 million dollars, largely driven by unrealized losses tied to digital asset holdings.
Progress With CoreWeave Partnership
Separately, Galaxy moved forward with its data center strategy by delivering the first data hall at its Helios campus to CoreWeave, marking the beginning of revenue generation under its Phase One lease agreement. The company confirmed that construction remains on schedule and expects to deliver most of the 133 megawatts of critical IT capacity by the end of the second quarter of 2026.
Galaxy also secured approval from Electric Reliability Council of Texas for an additional 830 megawatts of power capacity, bringing total approved capacity at the site to over 1.6 gigawatts. Development of the next phase is already underway, with initial deliveries expected in the first half of 2027.
As of March 31, the company reported total equity of 2.8 billion dollars and held 2.6 billion dollars in cash and stablecoins. During the quarter, it repurchased 3.2 million shares worth 65 million dollars and completed its delisting from the Toronto Stock Exchange, leaving Nasdaq as its only remaining listing venue.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
