Galaxy Digital Returns to Profit With $323 Million in Third-Quarter Net Income

Galaxy Digital reported $323 million in third-quarter net income, returning to profitability after a prior-quarter loss and marking a sharp turnaround in its latest earnings.

The company posted $455 million in adjusted EBITDA. Total assets increased 51% from the previous quarter to $16.4 billion, while cash, stablecoins and Treasury holdings nearly doubled to $4.9 billion.

Digital-asset trading volume grew 12% quarter over quarter. Assets under management and staking climbed 46% to $10.4 billion. The data center business generated $69 million in adjusted EBITDA, nearly five times the prior quarter. Its results were driven mainly by the first full operating quarter for Helios Phase 1, following delivery of 133 megawatts of capacity to CoreWeave.

Galaxy completed a $200 million share repurchase plan on Oct. 15, buying about 9.8 million shares. The board approved a new $200 million buyback authorization on Oct. 26. Helios Phase 2 is fully financed and under construction, following a $3.5 billion senior secured note issuance. The company’s power pipeline exceeds 5.7 gigawatts, with data center deliveries expected to begin in the second quarter of 2027.