Digital assets and AI infrastructure firm Galaxy Digital reported a net loss of $241 million for the full year 2025 and a $482 million loss in the fourth quarter alone. The company attributed the results primarily to declining cryptocurrency prices, notably a roughly 20% drop in Bitcoin in Q4, and approximately $160 million in one-time costs. Despite the losses, Galaxy reported an adjusted gross profit of $426 million for the year and ended with $2.6 billion in cash and stablecoins.
Digital assets and AI infrastructure company Galaxy Digital reported a net loss of $241 million over 2025 and a loss of $482 million in the fourth quarter alone. The company stated its annual losses were due in part to “lower digital asset prices and approximately $160 million of one-time costs during the year.”
Galaxy noted its Q4 2025 losses were “driven primarily by the depreciation of digital asset prices.” The price of Bitcoin dropped by about 20% during that final quarter of the year.
“You have the crypto coins — Bitcoin, Ethereum, Solana, you name ‘em — have been in a bear market,” said Galaxy CEO Michael Novogratz in a shareholder update. He added, “I do think that we’re in the lower end of the range [of Bitcoin price].”
Despite net losses, Galaxy reported an adjusted gross profit of $426 million for full-year 2025. The company ended the year with $2.6 billion in cash and stablecoins, $12 billion in total platform assets, and $2 billion in net inflows to its asset management division.
Galaxy also reported receiving approval for an additional 830 megawatts of power capacity for its Texas AI data center in January. This brought its facility’s total approved capacity to more than 1.6 gigawatts.
Shares of Galaxy on the Nasdaq fell by about 15% in trading on Tuesday to $22.48. Other crypto-related companies, however, reported revenue increases for the same period.
Fintech company SoFi Technologies, which lets users buy and sell cryptocurrencies, recorded fourth-quarter revenue of $1 billion. Tokenization company Securitize Holdings reported its revenues were up by more than 840% through September 2025 amid its IPO plans.
