ChainCatcher report: Galaxy Digital (Nasdaq: GLXY) released its Q2 2026 financial results, reporting a net loss of $85.31 million, a significant improvement from the $216.3 million loss in Q1, primarily due to declines in digital asset prices; adjusted EBITDA amounted to a loss of $77.26 million. As of June 30, total equity stood at $2.72 billion, with cash and stablecoin holdings totaling $2.459 billion. Breaking down by business segment, the digital assets division reported an adjusted gross profit of $65.71 million, a 34% quarter-over-quarter increase, with 1,741 counterparty clients—a 3% rise from the prior quarter. Average loan balances remained flat at $1.438 billion, while new loan origination volumes increased sequentially. The company also launched an OTC prediction market product this quarter, enabling institutional clients to execute multi-asset hedging strategies around event-driven markets. In asset management, total assets under management and staked assets reached $7.1 billion at the end of Q2, a 12% decline quarter-over-quarter. The company launched the new Galaxy Fintech Fund long/short hedge fund and partnered with State Street to introduce the tokenized private liquidity fund SWEEP. The data center segment posted its first-ever profit this quarter, with adjusted gross profit of $20.14 million and adjusted EBITDA of $11.49 million. The first phase of the Helios data center campus, comprising 133 MW of critical IT load, has been fully delivered to CoreWeave and is expected to generate approximately $80 million in quarterly rental income starting in Q3, with projected adjusted EBITDA margins exceeding 90% at the project level. On corporate developments, Galaxy issued $3.5 billion in senior secured notes via a subsidiary on July 28 to fund Phase 2 of Helios. Following the quarter, the company acquired three new sites in Texas—Merlin, Caspian, and Selene—with a combined potential capacity of approximately 2.1 GW, bringing Galaxy’s total power pipeline to over 5.7 GW. Additionally, Galaxy signed a multi-year agreement with BNY Mellon to support staking services on BNY’s digital asset custody platform.
Galaxy's Q2 2026 net loss narrows to $85.3M, data center unit turns profitable
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Summary
Galaxy Digital (Nasdaq: GLXY) reported a Q2 2026 net loss of $85.3 million, compared to $216.3 million in Q1, as on-chain data indicated reduced trading activity. The data center division became profitable, generating $20.14 million in adjusted gross profit. Galaxy issued $3.5 billion in senior secured notes to fund the Helios project. Inflation data remained a key market concern during the quarter.
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