Bitcoin
Galaxy Digital Reports $85M Net Loss on Q2 Crypto Market Decline
The digital assets firm posted a quarterly loss driven by falling valuations and revenue that fell short of analyst expectations.
Galaxy Digital reported an $85 million net loss for Q2 2026, translating to a $0.09 loss per share, citing depreciation in digital asset prices during the period. The company's revenue of $8.7 billion fell 15% from the prior quarter and missed analyst forecasts of $12.7 billion.
The timing coincided with broader market weakness. Total crypto market capitalization declined nearly 15% during the quarter to $2 trillion on June 30, compared to $2.35 trillion on April 1. Galaxy's stock fell 6.2% in premarket trading following the announcement and is down roughly 10% over the past month.
The company sought to emphasize resilience in its core business. Adjusted gross profit from digital assets reached $66 million with adjusted EBITDA of $11 million—a 34% quarter-over-quarter increase. Galaxy attributed this to what it described as a business model becoming "less dependent on the direction of digital asset prices." The firm also generated $20 million in adjusted gross profit from AI data centers while ramping capacity delivery to CoreWeave, part of a 15-year partnership expected to generate $1 billion in annual revenue.
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