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 has forecasted a major transformation in the cryptocurrency sector, moving away from speculation. Novogratz attributed the recent Bitcoin (CRYPTO: BTC) slump to a broader industry shift rather than a single event. He expects something more enduring to emerge from the downturn, arguing that "the age of speculation" in crypto will fade as the industry attr ...

INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Galaxy Digital Inc. - GLXY [Accessibility Statement] Skip NavigationNEW YORK, Feb. 12, 2026 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Galaxy Digital Inc. ("Galaxy" or the "Company") (NASDAQ: GLXY). Such investors are advised to contact Danielle Peyton at [[email protected]] or 646-581-9980, ext. 7980.The investigation concerns whether Galaxy and certain of its officers and/or directors have ...

Galaxy Digital Conference Call Summary Company Overview - **Company**: Galaxy Digital (NasdaqGS:GLXY) - **Date**: February 12, 2026 - **Speakers**: CEO Michael Novogratz, CFO Tony Paquette Key Points Industry Context - The current state of the cryptocurrency market is described as a bear market, with Bitcoin trading below all moving averages and facing more sellers than buyers [3][4] - Bitcoin is expected to stabilize in the range of $60,000 to $80,000 until a new narrative emerges to excite investors [4][5] - The market structure bill is anticipated to pass, which could positively impact Bitcoin [5] Company Performance and Strategy - Galaxy Digital ended the quarter with $3 billion in equity capital, including $2.6 billion in cash and stablecoins, having raised over $2 billion in 2025 [11][12] - The company is committed to a $200 million stock buyback program, indicating confidence in its stock valuation [8][14] - Galaxy is actively engaged in building infrastructure in Texas, with a focus on a significant data center business [12][13] Data Center Business - Galaxy has been awarded an additional 830 MW of power in Texas, which is expected to enhance its data center capacity [13][14] - The company is exploring partnerships for long-term leases on the new power capacity, with expectations of announcements in the near future [17][18] - The data center business is projected to ramp up significantly, with expectations of cash flow from the new capacity by 2029 [25][39] Competitive Landscape - Galaxy acknowledges competition from other companies in the data center space but emphasizes its strong balance sheet and capital markets team [36][39] - The company is focused on finding strategic opportunities and partnerships to grow its data center business [36][39] Future Outlook - Galaxy's leadership expresses optimism about the future, despite current market challenges, and believes in the long-term potential of both the cryptocurrency and data center businesses [8][9][39] - The company is considering the implications of its dual listing on the TSX and potential delisting, with over 90% of trading volume now occurring on NASDAQ [10][65][66] Tax Considerations - Galaxy's investment in Helios is in a Qualified Opportunity Zone, which provides distinct tax benefits [64] - The company is focused on maximizing shareholder value while considering tax implications in its strategic decisions [64] Miscellaneous - Galaxy is not currently considering off-grid solutions for its data centers, preferring to remain connected to the grid for operational efficiency [41] - The leadership is monitoring developments in the cryptocurrency market and macroeconomic conditions, including the impact of the new Fed chair on liquidity and interest rates [84][85] Conclusion Galaxy Digital is navigating a challenging cryptocurrency market while positioning itself for future growth through strategic investments in data centers and infrastructure. The company remains optimistic about its long-term prospects and is actively managing its capital structure to enhance shareholder value.

Core Viewpoint - Galaxy Digital Inc. has received approval from the Toronto Stock Exchange (TSX) for a Normal Course Issuer Bid (NCIB) to repurchase up to $200 million of its Class A common stock, which is expected to enhance shareholder value and address any disconnect between share price and intrinsic value [1][6]. Group 1: NCIB Details - The NCIB will allow Galaxy to purchase up to 14,798,021 Class A common stock, representing approximately 10% of the public float as of January 31, 2026, over a period from February 12, 2026, to February 11, 2027 [2][3]. - The company may acquire up to 284,225 Class A common stock per day on the TSX, which is 25% of the average daily trading volume for the preceding six months [4]. - Purchases will be made at prevailing market prices, and all repurchased shares will be cancelled [5]. Group 2: Strategic Rationale - Galaxy believes that the current market conditions present opportunities to repurchase shares at attractive prices, which could be an effective use of cash resources [6]. - The NCIB is expected to enhance liquidity for shareholders looking to sell and increase the proportionate interests of those wishing to maintain their positions [6]. Group 3: Company Overview - Galaxy Digital Inc. is a global leader in digital assets and data center infrastructure, providing solutions that accelerate progress in finance and artificial intelligence [9]. - The company operates a digital assets platform that offers institutional access to various services, including trading, advisory, and asset management, and has a significant data center infrastructure in North America [9].

分组1 - BTIG lowered the price target on Strategy to $250 from $630 while maintaining a Buy rating, citing bitcoin price volatility as a reason for the adjustment [1] - Strategy acquired 855 bitcoin for approximately $75.3 billion at an average price of $87,974, bringing total holdings to 713,502 bitcoin for about $54.26 billion [2] - Strategy reported a Q4 loss per share of ($42.93) on revenue of $123 million, compared to a loss of ($3.03) in the same period last year, with cash and cash equivalents of $2.3 billion as of December 31 [3] 分组2 - Galaxy Digital reported a Q4 loss per share of ($1.08) on revenue of $10.37 billion, missing analyst estimates [5] - Following Galaxy's report, Goldman Sachs and H.C. Wainwright adjusted their price targets to $24 and $40 respectively, with H.C. Wainwright seeing a buying opportunity [6] - IREN reported a Q2 loss per share of (52 cents) on revenue of $184.7 million, with cash and cash equivalents of $2.8 billion as of January 31 [7] 分组3 - CleanSpark reported a Q1 loss per share of ($1.35) on revenue of $181.2 million, with cash holdings of $485.1 million and $1 billion in bitcoin as of December 31 [9] - Following CleanSpark's report, several firms lowered their price targets, with a shift in investment focus towards AI [10] - Bullish reported a Q4 loss per share of ($3.73) on adjusted revenue of $92.5 million, with analysts adjusting price targets downwards due to market conditions [10][11] 分组4 - Mawson Infrastructure Group reported preliminary Q4 revenue of $3.2 million, down from $15.1 million year-over-year, and reached settlements to reduce potential financial liabilities [12][13] - Bed Bath & Beyond announced an agreement to acquire Tokens.com to create a unified investment platform, integrating traditional and tokenized finance [14][15] - Bitfarms plans to redomicile from Canada to the U.S. to enhance shareholder value and simplify operations, with a new parent company expected to trade under the name Keel Infrastructure [17][18] 分组5 - The cryptocurrency market is experiencing significant volatility, with bitcoin dropping approximately 18% to $68,182 [20]

Core Viewpoint - Galaxy Digital's share price surged 18% to $19.90 following the announcement of a $200 million share repurchase program, indicating management's confidence in the stock's undervaluation and the company's strong financial position [1][3]. Group 1: Share Repurchase Program - The company has authorized a share repurchase program of up to $200 million, allowing for the buyback of Class A common stock over the next 12 months [1]. - Buybacks may be executed through various methods, including open market transactions and trading plans under Rule 10b5-1, with the option to suspend or discontinue the program based on market conditions [2]. Group 2: Management Confidence - Management's decision to initiate the buyback program reflects confidence that Galaxy's shares are undervalued and that the firm has excess capital available [3]. - CEO Mike Novogratz emphasized the company's strong balance sheet and ongoing investments in growth, which provide the flexibility to return capital to shareholders when the stock price does not reflect the business's value [4]. Group 3: Financial Performance - Galaxy reported a net loss of $482 million for the fourth quarter, which initially negatively impacted the stock price [5]. - Despite the quarterly loss, the company generated $426 million in adjusted gross profit for the full year and ended the year with $2.6 billion in cash and stablecoins, highlighting its strong liquidity position [5]. Group 4: Market Context - Other cryptocurrencies and stocks in the crypto sector also experienced gains, with Bitcoin reaching $70,000 and Ethereum surpassing $2,000 [6]. - In traditional markets, the Dow Jones Industrial Average exceeded 50,000 for the first time, indicating a positive market environment [6].

Core Viewpoint - Galaxy Digital Inc. has announced a $200 million share repurchase program, reflecting confidence in its long-term prospects despite current bearish trends in its stock performance [2][4]. Group 1: Share Repurchase Program - The board of directors approved a program allowing the company to buy back up to $200 million of its Class A common stock, indicating a strong balance sheet [2]. - The repurchase will comply with securities laws and stock exchange requirements, providing flexibility in timing and amount of shares repurchased [3]. - The program is set to last for 12 months, allowing the company to return capital to shareholders when the stock price does not reflect its value [3]. Group 2: Stock Performance and Technical Indicators - Galaxy Digital shares are currently trading 31.4% below their 20-day simple moving average (SMA) and 36.4% below their 100-day SMA, indicating a bearish trend [4]. - The stock has decreased 15.66% over the past 12 months and is closer to its 52-week lows than highs, reflecting ongoing challenges [4]. - The Relative Strength Index (RSI) is at 27.54, suggesting the stock may be undervalued, while the MACD indicates bearish pressure [5]. Group 3: Upcoming Earnings and Analyst Consensus - The next earnings report is anticipated on May 23, 2026 [6]. - The stock carries a Buy Rating with an average price target of $44, with recent analyst actions including varied target adjustments from firms like Morgan Stanley and Goldman Sachs [7]. - At the time of publication, shares were up 16.98% at $19.70, with key resistance at $21.50 and support at $17.50 [7].

Core Viewpoint - Galaxy Digital Inc. has announced a share repurchase program authorized to buy up to $200 million of its Class A common stock, reflecting confidence in the company's long-term prospects and a strong balance sheet [1][2]. Group 1: Share Repurchase Program - The share repurchase program allows Galaxy to buy back shares through various means, including open market purchases and privately negotiated transactions, subject to compliance with securities laws and stock exchange requirements [2]. - The program will last for 12 months and can be suspended or discontinued at any time, with no obligation for the company to acquire any specific amount of common stock [2]. - Repurchases through Nasdaq will not exceed 5% of the common stock issued and outstanding at the start of the program, and the timing and total amount of repurchases will depend on various market conditions [2]. Group 2: Company Overview - Galaxy Digital Inc. is a global leader in digital assets and data center infrastructure, providing solutions that enhance progress in finance and artificial intelligence [3]. - The company operates a digital assets platform that offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology [3]. - Galaxy's Helios campus in Texas, with a capacity of 1.6 GW, positions it among the largest and fastest-growing data center developers in North America [3].

Core Viewpoint - Galaxy Digital has experienced significant losses, hitting an all-time low as investors reacted to disappointing earnings and a sharp decline in Bitcoin prices [1][5]. Financial Performance - Galaxy Digital reported a net loss of $241 million last year, a stark contrast to a net income of $346.7 million in 2024, primarily due to lower digital asset prices and one-off costs of approximately $160 million related to Bitcoin mining infrastructure and corporate reorganization [3][5]. - Revenues surged by 42% to $60.4 billion from $42.6 billion year-on-year, while operating expenses also increased by 42% to $61.6 billion compared to $43.4 billion in 2024 [5]. - In the fourth quarter, the net loss was $481.7 million, reversing a net income of $117.5 million in the same period in 2024, driven by depreciation in digital asset prices and a 24% decline in crypto market capitalization [5]. Market Context - The stock price of Galaxy Digital fell to a low of $16.67 during intra-day trading, ultimately closing down by 16.47% at $16.84 [2]. - The broader market sentiment was negative, with Bitcoin prices dropping by 50% from an all-time high of $126,000, influenced by news that the Treasury Department lacks authority to bail out cryptocurrencies [6]. - Pessimistic comments from investor Michael Burry suggested that Bitcoin could drop further to the $50,000 range, potentially leading to bankruptcies among Bitcoin mining firms [7].

Group 1 - Galaxy Digital Holdings Ltd. reported fourth-quarter revenue of $10.37 billion, which was below the expected $13.21 billion [1] - The company experienced a loss per share of $1.08, missing the estimate of a loss of 52 cents [1] - Galaxy ended the quarter with $6.4 billion in assets under management and $5 billion in assets under stake [1] Group 2 - The company is on track to deliver 133MW of critical IT load to CoreWeave in the first half of 2026 under the Phase I lease agreement [2] - Following the earnings announcement, Galaxy shares fell 7.5% to trade at $20.33 [2] Group 3 - HC Wainwright & Co. analyst maintained a Buy rating on Galaxy Digital but lowered the price target from $45 to $40 [3] - Goldman Sachs analyst maintained a Neutral rating and cut the price target from $27 to $24 [3] - Morgan Stanley analyst maintained an Overweight rating and reduced the price target from $43 to $36 [3]