Financial Performance - Galaxy generated net income of $505.1 million for the three months ended September 30, 2025, compared to a net loss of $33.3 million for the same period in 2024 [285]. - Galaxy's Adjusted EBITDA for the three months ended September 30, 2025, was $629.4 million, a significant increase from $1.9 million for the same period in 2024 [290]. - Adjusted EBITDA for Q3 2025 was $629,352,000, compared to $1,917,000 in Q3 2024, indicating significant growth [305]. - Total revenues and gains from operations for Q3 2025 reached $29,218,853,000, up from $8,712,290,000 in Q3 2024, reflecting a substantial increase [303]. - The company reported a net income of $505,057,000 for Q3 2025, a significant increase from a net loss of $33,330,000 in Q3 2024 [305]. - Total revenues for the nine months ended September 30, 2025, were $51,131,377,000, compared to $27,405,424,000 for the same period in 2024, indicating strong year-over-year growth [303]. - Net income for the three and nine months ended September 30, 2025 was $505.1 million and $240.3 million, compared to a net loss of $33.3 million and net income of $229.2 million for the same periods in 2024 [353]. Assets and Liabilities - Assets under management (AUM) increased by 126% year-over-year to $10.5 billion as of September 30, 2025, with $8.1 billion excluding opportunistic assets [286]. - Galaxy reported assets under stake (AUS) of approximately $6.6 billion as of September 30, 2025, up from approximately $4.2 billion as of December 31, 2024 [286]. - Total assets rose to $11.5 billion, an increase of $4.4 billion, primarily due to a $2.4 billion increase in digital assets and a $637 million increase in property and equipment [362]. - Total liabilities increased to $8.4 billion, up $3.4 billion, mainly due to a $1.6 billion increase in digital assets borrowed and a $1.2 billion increase in collateral payable [362]. - Cash and cash equivalents reached $1.1 billion, a 146.1% increase from $462.1 million at the end of 2024 [363]. - The company entered into a $1.4 billion credit agreement with Deutsche Bank to finance a data center project, with $433.5 million drawn as of September 30, 2025 [364]. Revenue Streams - Digital assets sales reached $28.2 billion for the three months ended September 30, 2025, reflecting a $19.7 billion increase or 233% year-over-year [328]. - Approximately 52% of digital asset sales revenue for the three months ended September 30, 2025, was from bitcoin sales, compared to 51% in the same period of 2024 [329]. - Fee revenue increased to $104.3 million and $132.8 million for the three and nine months ended September 30, 2025, representing increases of 404% and 76% compared to the same periods in 2024 [330]. - Lending revenues reached $42.6 million and $102.2 million, marking an increase of 81% for both the three and nine months ended September 30, 2025, attributed to the growth in the loan book size [333]. - Net gain on digital assets was $453.8 million and $570.5 million for the three and nine months ended September 30, 2025, compared to $112.0 million and $436.4 million in 2024, reflecting a 305.2% increase for the three months [335]. Operational Highlights - The Helios data center campus is expected to reach a contracted capacity of 526 MW of critical IT load by 2028, with the first phase expected to deliver 133 MW by mid-2026 [283]. - The company launched GalaxyOne, a retail financial technology platform, offering FDIC-insured high-yield accounts and access to equities and crypto trading [288]. - The company completed several strategic acquisitions, including the Helios bitcoin mining facility in December 2022 and GK8 in February 2023, diversifying its product offerings [309]. - The company launched proof of stake validation infrastructure services in late 2023, contributing to the increase in blockchain rewards [331]. Market Trends - The number of worldwide individual cryptocurrency users rose to 708 million as of September 2025, up from 580 million in December 2023, showing strong adoption growth [308]. - Bitcoin's price remained above $100,000 throughout Q3 2025, reaching an all-time high of over $126,000 on October 6, 2025, indicating market resilience [308]. - The trailing five-year compounded annual growth rate for bitcoin reached 60% as of September 30, 2025, reflecting strong long-term performance [308]. - Cryptocurrency market capitalization increased by 16% for the three months ended September 30, 2025, compared to the previous quarter [354]. Costs and Expenses - Operating expenses for the three months ended September 30, 2025, totaled $28.7 billion, an increase of $19.9 billion or 228% compared to the same period in 2024 [324]. - Impairment of digital assets for the three months ended September 30, 2025, was $197.7 million, an increase of $89.2 million or 82% year-over-year [324]. - Compensation and benefits expenses increased by 49% to $85.0 million for the three months ended September 30, 2025 [324]. - General and administrative expenses rose to $58.7 million and $164.5 million for the three and nine months ended September 30, 2025, representing increases of 146% and 150% compared to the same periods in 2024 [352]. Risk Management - Galaxy mitigates credit and counterparty risk by requiring collateral assets from counterparties, which are assessed based on liquidity and overall risk profile [386]. - The company limits credit risk by placing cash and digital assets with financial institutions and trading platforms after performing internal due diligence procedures [393]. - Galaxy has a fail-over plan to move cash and digital assets held on a platform if risk exposure significantly changes [393].

Core Viewpoint - Galaxy Digital has received a positive outlook from Morgan Stanley, highlighting the company's potential for growth as it enhances its focus on artificial intelligence and digital assets [1] Group 1 - Morgan Stanley sees significant upside for Galaxy Digital, indicating strong market confidence in the company's strategic direction [1] - The endorsement reflects a broader trend in the industry where companies are increasingly integrating AI with digital asset management [1]

Core Viewpoint - Galaxy Digital (GLXY.US) experienced a significant decline of over 8%, closing at $37.10 following the announcement of a $1 billion private offering of exchangeable senior notes due in 2031 [1] Summary by Relevant Sections - **Debt Issuance** - The company announced a private issuance of $1 billion in exchangeable senior notes, which are set to mature in 2031 [1] - **Use of Proceeds** - The net proceeds from the bond issuance are intended to support the growth of core operations and may also be used to repay existing exchangeable senior notes maturing in 2026 [1]

智通财经APP获悉，周二，Galaxy Digital(GLXY.US)大跌超8%，报37.10美元。消息面上，10月27日， 该公司宣布私募发行10亿美元可交换高级票据，早前的一份声明显示，这些债券将于2031年到期。声明 称，债券发行方计划将此次债券发售的净收益用于支持核心运营业务的增长，并可能用于偿还将于2026 年到期的现有可交换优先票据。 ...

Mike Novogratz's Galaxy Digital (GLXY) is selling $1.15 billion in exchangeable notes in a private deal, upsizing from last night's originally offered $1 billion. Estimated net proceeds of $1.127 billion (or $1.274 billion if the full $150 million greenshoe option is exercised), said the company. The notes, carrying an annual interest rate of 0.50% and maturing May 1, 2031, are exchangeable at an initial rate of 17.9352 shares per $1,000 principal amount—equivalent to an exchange price of about $55.76, a ...

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Galaxy Digital Inc (NASDAQ:GLXY) CEO Mike Novogratz said the world's largest cryptocurrency could "take out the topside" and break above $125,000 if President Donald Trump moves on the Federal Reserve and the pending market structure bill becomes law. Novogratz Sees Trump Policy As Key Catalyst Speaking during a recent interview shared on X, Novogratz outlined a potential trading range between $100,000 and ...

Core Insights - Galaxy Digital (GLXY) shares have declined 14% since the company reported its third-quarter 2025 results on October 21, amid a broader sell-off in the cryptocurrency market [1][8] - In Q3 2025, GLXY reported earnings of $1.12 per share, a significant improvement from a loss of $0.10 per share in the same quarter last year, exceeding the Zacks Consensus Estimate by 194.74% [1][8] - Revenues reached $28.4 billion, marking a 231.4% year-over-year increase and surpassing the consensus estimate by 43.12% [1][8] Financial Performance - Adjusted gross profit for Q3 2025 was $728 million, a 143% increase from $299 million in Q2 2025 [3] - The Digital Assets segment reported an adjusted gross profit of $318 million, up 345% sequentially from $71.4 million [3] - Operating expenses rose 227% year over year to $28.67 billion, while general and administrative expenses decreased slightly [4] - Net income for the quarter was $505 million, a substantial increase from a loss of $33.3 million in the prior year, representing a 1,546% sequential increase [4] EBITDA and Cash Position - Galaxy Digital achieved an adjusted EBITDA of $629 million in Q3 2025, a 198% increase compared to $211 million in Q2 2025 [5] - As of September 30, 2025, the company had cash and cash equivalents of $1.13 billion, up from $691.3 million as of June 30, 2025 [6] - Total equity reported was $3.2 billion, with holdings of $1.9 billion in cash and stablecoins [6] Market Performance - Year-to-date, Galaxy Digital shares have gained 63.8%, outperforming the Zacks Finance sector's return of 12.8% [2]

We recently published Market Shockers: 10 Stocks Collapse by Double Digits. Galaxy Digital (NASDAQ:GLXY) is one of the best performers on Wednesday. Galaxy Digital fell sharply on Wednesday, losing 12.88 percent to close at $37.34 after hitting a new all-time during the previous trading day, thanks to nearly 2,000-percent improvement in its third quarter earnings performance. In an updated report, Galaxy Digital (NASDAQ:GLXY) swung to a net income of $505 million, a whopping 1,615-percent improvement fro ...

We recently published 10 Stocks Leaving Wall Street in the Dust. Galaxy Digital (NASDAQ:GLXY) is one of the best performers on Tuesday. Galaxy Digital propelled to a new all-time high on Tuesday following its return to profitability, surging by as much as 1,600 percent in the third quarter of the year. During the intra-day trading, Galaxy Digital (NASDAQ:GLXY) jumped to a new high of $45.92 before paring gains to finish the day just up by 8.1 percent at $42.86 apiece. Galaxy Digital (GLXY) Jumps to All- ...

Photo by BeInCrypto Digital-asset firm Galaxy Digital has seen its shares surge over 20% in the past month as crypto-sector optimism builds, drawing renewed investor attention. Despite the strong momentum, analysts caution that the stock may be trading at elevated levels relative to its growth prospects. Strong Momentum and Retail Expansion Galaxy Digital (NasdaqGS: GLXY) has enjoyed a sharp rebound, with its share price rising roughly 21% in the past month and nearly 120% year-to-date. The surge refle ...