Galaxy Digital Posts $323 Million Q3 Profit, Adds $200 Million Buyback

Galaxy Digital posted preliminary net income of $323 million for the third quarter and authorized up to $200 million in additional share repurchases, pairing an earnings rebound with a new capital-return program.

Net income compared with an $85 million net loss in the second quarter. Adjusted EBITDA, a non-GAAP measure, reached $455 million, versus a $77 million loss in Q2. Galaxy's board approved the new authorization Oct. 26.

The authorization came after the company completed a prior $200 million program Oct. 15, repurchasing about 9.8 million shares. The new authorization covers Class A shares and does not require Galaxy to make purchases. The amount and timing will depend on market conditions, and the program has no fixed expiration date.

Galaxy's Data Centers business, which supports AI and high-performance computing workloads, posted $79 million in adjusted gross profit. The preliminary results cover the period ended Sept. 30. Final statements may differ after routine accounting procedures.