Galaxy Digital recorded a net loss of $216 million in Q1 2026, with the firm attributing the result primarily to a roughly 20% decline in digital asset prices across the quarter. Total assets came in at approximately $10 billion, with equity of $2.8 billion and a liquidity buffer of $2.6 billion in cash and stablecoins.
Assets under management held at around $5 billion, suggesting the institutional franchise remained relatively stable even as mark-to-market losses hit the balance sheet hard.
One forward-looking bright spot: Galaxy's Helios data center in Texas delivered its first data hall to CoreWeave during the quarter, completing the transition from build-out to revenue-generating operations. Data center revenue is expected to begin ramping in Q2 2026 — a diversification play that could reduce Galaxy's exposure to pure crypto price cycles.
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