Galaxy Digital Posts $216 Million Q1 Loss as Crypto Prices Decline

Apr 28, 2026

Galaxy Digital reported a $216 million first-quarter net loss ($0.49 per share) driven by declining crypto asset values, though this beat analyst expectations of $0.93 per share and improved from the $295 million loss a year earlier. The New York-based firm, led by Mike Novogratz, saw total assets decline 12% to $9.99 billion as digital asset values dropped $316 million, with treasury holdings including $431 million in Bitcoin, $61 million in Ethereum, and $42 million in Solana. The loss was partially cushioned by strategic exposure to Hyperliquid's native token, which rallied 56% year-to-date, and by reduced headcount. Galaxy Digital expects its data center business to reach an inflection point in Q2 with delivery of its first data hall to AI cloud provider CoreWeave, while the recently launched retail platform GalaxyOne diversifies beyond traditional institutional trading and lending services.

Galaxy Digital's Q1 Financial Performance and Losses

▪Galaxy Digital reported a net loss of $482 million, or $1.08 per share, in the fourth quarter alongside Bitcoin's plunge from all-time highs.
▪Galaxy Digital posted a first-quarter net loss of $216 million for the period ended March 31.
▪Galaxy Digital's digital assets gross profit edged down sequentially from $51 million in the fourth quarter.
▪Analysts had projected Galaxy Digital's first-quarter loss per share at $0.93 according to Yahoo Finance.
▪Galaxy Digital shares hit an 11-month low of $16.43 last month.
▪Galaxy Digital's stock price has increased 12% year-to-date.
▪Galaxy Digital's first-quarter net loss of $216 million was an improvement compared to a deficit of $295 million a year ago.
▪Galaxy Digital's stock was little changed on Tuesday, with shares trading around $25 following the opening bell.
▪Galaxy Digital generated a first-quarter gross profit of $49 million from digital assets.
▪Galaxy Digital's first-quarter loss equated to $0.49 per share.

Asset Portfolio Composition and Market Conditions

▪As of March 31, Galaxy Digital's treasury had $134 million in Other Token Exposure.
▪Galaxy Digital's total assets declined 12% quarter-over-quarter to $9.99 billion from $11.3 billion.
▪As of March 31, Galaxy Digital had $95 million in other investments.
▪Galaxy Digital's total assets decline was driven mostly by a $316 million decline in the value of its digital assets and related investments.
▪As of March 31, Galaxy Digital's exposure to Bitcoin was $431 million.