Core Insights - Galaxy Digital experienced a significant decline of 12.88% on Wednesday, closing at $37.34 after reaching an all-time high the previous day, despite a remarkable nearly 2,000% improvement in its third-quarter earnings performance [1][3] Financial Performance - The company reported a net income of $505 million, representing a 1,615% increase from a net loss of $33.3 million in the same period last year [2] - Revenues surged by 231% to $28.4 billion, up from $8.57 billion year-on-year [2] Operational Highlights - The strong financial performance was driven by record volumes in Galaxy Digital's digital asset trading operations [3] - In the high-performance computing (HPC) sector, Galaxy Digital is on track to fulfill its commitment to CoreWeave, with the first phase of critical IT load capacity expected to be delivered in the first half of 2026, covering a total of 133 MW [3] - CoreWeave has exercised its final option to access an additional 133 MW of critical IT load from the Helios data center, bringing its total commitment to 800 MW of the campus's maximum power capacity [4]
Galaxy Digital (GLXY) Falls Hard from All-Time High