Galaxy Announces Second Quarter 2025 Financial Results

Financial Highlights - Total assets increased to $9.086 billion as of June 30, 2025, up 43% from $6.336 billion in Q1 2025 [4] - Total equity rose to $2.624 billion, a 38% increase from $1.902 billion in Q1 2025 [4] - Net income for Q2 2025 was $30.7 million, compared to a loss of $295 million in Q1 2025 [4][7] - Adjusted EBITDA for Q2 2025 was $211 million, a significant recovery from a loss of $290 million in Q1 2025 [4][7] Corporate Updates - Galaxy Digital began trading on Nasdaq under the ticker GLXY on May 16, 2025, following a successful reorganization [7] - The company reported its strongest monthly financial performance in July 2025 for its Digital Assets operating business, with record results in Global Markets [7] - Galaxy completed the sale of over 80,000 bitcoin on behalf of a client, marking one of the largest transactions in digital assets history [7] Digital Assets Performance - Global Markets adjusted gross profit increased by 28% quarter-over-quarter to $55.4 million in Q2 2025 [11] - The average loan book size rose to $1.107 billion, a 27% increase from Q1 2025 [11][16] - Digital asset trading volumes declined by 22% quarter-over-quarter, but Galaxy outperformed the broader market, which saw a 30% decline [16] Asset Management & Infrastructure Solutions - Adjusted gross profit from Asset Management & Infrastructure Solutions was $16 million in Q2 2025, down 26% from Q1 2025 due to lower industry-wide on-chain activity [12] - Assets on the platform increased by 27% quarter-over-quarter to $8.921 billion [12][17] Data Centers Expansion - CoreWeave exercised an option for an additional 133 MW of critical IT load at Galaxy's Helios data center campus, bringing total committed power to 800 MW [14][15] - Galaxy entered into an agreement to acquire 160 acres of land adjacent to the Helios campus, expanding its size to over 1,500 acres and increasing potential power capacity to 3.5 GW [15] Balance Sheet and Investment Exposure - As of June 30, 2025, the balance sheet net digital asset and investment exposure included $1.274 billion in digital assets and $718 million in venture and other investments [4][22] - The company maintained a diversified allocation across spot positions, ETFs, venture investments, and private equity holdings [22][23]