Major crypto stock rises despite $216M in quarterly loss

Galaxy Digital (Nasdaq: GLXY) is a crypto-focused financial services firm founded by billionaire Michael Novogratz.

The company has invested in crypto ventures like 1inch, BlockFi, Eigen Layer, Ethena, Fireblocks, Messari, Polygon, Ramp, TRM Labs, etc.

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Galaxy Digital reports loss in Q1

On Apr. 28, Galaxy Digital released the financial results for the first quarter of the year.

It reported a net loss of $216 million and a negative EPS of $0.49, thanks to the 20% depreciation of digital asset prices in the quarter.

During Q1 2026, the company held total assets worth approximately $10 billion, including $2.8 billion in equity and $2.6 billion in cash and stablecoins.

The quarter ended with approximately $5 billion in assets under management and $3.2 billion in assets under stake. 

The company delivered the first data hall to CoreWeave at the Helios data center campus, marking the transition from construction to revenue-generating operations under the Phase I lease agreement.

During the quarter, Galaxy Digital completed its voluntary delisting from the Toronto Stock Exchange and consolidated its public listing on Nasdaq as its sole exchange.

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The company also repurchased 3.2 million shares of its Class A common stock for $65 million under the previously announced share repurchase program.

Digital assets generated adjusted gross profit of $49 million during the quarter. The company said its digital asset trading volumes remained flat quarter-over-quarter despite industry-wide trading volumes sharply declining over the same period.

Following the announcement of the quarterly results, the company's stock was trading rather flat at $25.55 at the time of writing, up 2% in a day.

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