Core Insights - Galaxy Digital's shares increased nearly 9% following the announcement of its best quarterly performance in seven years, with a current trading price of $43.35 and a market cap of $16.5 billion [1] - The company reported an adjusted gross profit of $728 million for Q3, a 143% increase from the previous quarter, and a net income of $505 million, a sixteenfold rise [1] Treasury Trade Success - A significant portion of Galaxy's success is attributed to treasury trades, with over half of the $9 billion in assets coming from companies holding Bitcoin and Ethereum [2] - Digital asset treasury mandates have contributed more than $4.5 billion in assets to Galaxy, resulting in over $40 million in annual recurring fee revenue [2] Growth of Crypto Treasury Companies - Crypto treasury companies, which purchase Bitcoin, Ethereum, or XRP to enhance their balance sheets, have seen substantial growth, with Ethereum treasuries controlling over 3.5% of all Ether and Bitcoin treasuries holding a similar percentage of Bitcoin's supply [3] - These firms have tripled their holdings since July, indicating a strong market trend [3] Staking and Asset Management Services - Galaxy is leveraging the growth of treasury companies by providing staking and asset management services, offering a 3% yield for Ethereum treasuries and professional custody for Bitcoin treasuries [4] - By June, Galaxy had supported more than 15 treasury companies [4] AI Initiative - Galaxy is expanding into the artificial intelligence sector, securing $1.4 billion in financing for the $1.7 billion first phase of a power plant project for CoreWeave, an AI computing firm [5] - The new power plant, named Helios and located in Texas, is expected to generate over $1 billion in annual revenue once completed, comparable to the company's entire trading operation [6]