NEW YORK — Galaxy Digital (GLXY), a leading digital asset and infrastructure provider, has announced its financial results for the second quarter of 2025, showcasing a significant turnaround and strategic growth. The company reported a net income of $30.7 million, or $0.08 per diluted share, a sharp reversal from a net loss of $295 million in the first quarter. This strong performance was primarily fueled by the appreciation of its digital asset holdings and a robust performance in its core digital asset businesses.

Financial Highlights

Profitability: Galaxy's Q2 net income of $30.7 million was driven by a strong rebound in the crypto market. Adjusted EBITDA for the quarter reached an impressive $211 million, backed by a $228 million adjusted gross profit from its treasury and corporate segment.

Balance Sheet Strength: As of June 30, the company's total assets grew by 43% quarter-over-quarter to $9.086 billion. Total equity expanded to $2.62 billion, while cash and stablecoin holdings remained strong at $1.2 billion, providing a solid foundation for future investments.

Digital Asset Growth: The firm's Bitcoin holdings increased to 17,102 BTC, with a total of 4,272 BTC added during the quarter. This growth reflects a broader bullish sentiment in the market.

Operational and Strategic Milestones

The second quarter was marked by several key operational achievements that position Galaxy for long-term growth:

Nasdaq Listing: On May 16, Galaxy officially completed its corporate restructuring and began trading on the Nasdaq under the ticker symbol GLXY. This landmark achievement aims to enhance the company's market presence and attract a wider institutional investor base.

Helios Data Center Expansion: Galaxy's infrastructure business is rapidly expanding. In the third quarter, the company's AI tenant, CoreWeave, committed to the full 800MW of power capacity at the Helios data center campus. Furthermore, Galaxy has signed an agreement to acquire an adjacent 160 acres and a 1GW load interconnection request, which will expand the total potential power capacity at the Helios campus to a staggering 3.5 GW.

Record-Breaking Client Transaction: In July, Galaxy's digital asset business achieved its best monthly performance to date, largely due to a significant transaction involving the sale of over 80,000 bitcoins on behalf of a client—one of the largest such deals in the industry.

While the financial results were overwhelmingly positive, the market's reaction was mixed, with Galaxy's stock experiencing a slight dip. However, CEO Mike Novogratz expressed strong optimism about the future, stating that "all our businesses are starting to fire on all cylinders" and that July's record performance signals a promising trajectory. The company is strategically positioning itself as a key infrastructure provider for both digital assets and high-performance computing, with its expanded Helios campus set to become a top-tier data center globally.

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Source: Based on Galaxy Digital's official press release and reporting from Cointelegraph and CoinCentral.