Galaxy Digital reported a net loss of $216 million for the first quarter of 2026, attributing the result to declining digital asset prices that offset growth in its fee and infrastructure revenue. The loss narrowed from the prior quarter as the firm expanded diversified income streams, including launching its Helios data center with a CoreWeave deal projected to generate over $1 billion in annual revenue.
Galaxy Digital suffered a net loss of $216 million in Q1 2026 as a general decline in digital asset prices affected performance. This offset growth in fee-based and infrastructure revenue across its business segments during the quarter.
As per the company’s report, diluted earnings per share stood at $0.49. Declining token prices and unrealized losses on held positions exceeded operating earnings from trading, asset management, and principal investments.
Management reported the loss had narrowed relative to the previous quarter. The company stated it is becoming less sensitive to crypto price fluctuations by diversifying its revenue base across operating segments.
The firm’s Digital Assets division produced hundreds of millions in adjusted gross profit during 2025 despite a net loss for the year. Galaxy Digital registered a net loss of $241 million for the full year 2025 but reported adjusted EBITDA of $216 million.
The first quarter marked a structural change as the data center division began earning revenue. This represented the early commercialization of the Helios AI campus in West Texas.
Helios has acquired over 1.6 gigawatts of permitted capacity and holds a long-term contract with CoreWeave. This contract is set to yield over $1 billion in annual revenue at scale.
The company recently closed a $1.4 billion project funding facility. This funding supports the initial retrofit and expansion of its Helios site for infrastructure development.
CEO Mike Novogratz claimed the transition forms a more stable earning base. He stated the strategy lowers dependence on Bitcoin and altcoin prices, but short-term outcomes remain dependent on market conditions.
