Galaxy Digital Narrows Loss to $216M in Weak Crypto Market

TLDR Galaxy Digital reported a $216 million net loss for the first quarter of 2026, narrowing from the previous quarter. The company posted negative adjusted EBITDA of $188 million and diluted earnings of negative $0.49 per share. Total equity increased 46% year over year to $2.8 billion, while cash and stablecoins stood at $2.6 billion. Bitcoin fell nearly 24% during the quarter, contributing to unrealized markdowns on digital asset holdings. Galaxy activated its first Helios data hall in Texas and began generating cash flow under a CoreWeave lease. Galaxy Digital Inc. reported a $216 million net loss for the first quarter of 2026, narrowing from $482 million in the prior quarter. The company posted negative adjusted EBITDA of $188 million and diluted earnings of negative $0.49 per share. However, total equity rose 46% year over year to $2.8 billion, while cash and stablecoins stood at $2.6 billion. Galaxy Digital Narrows Quarterly Loss as Crypto Market Weakens Galaxy Digital reduced its quarterly net loss to $216 million from $482 million in the previous quarter. Still, weaker crypto prices drove unrealized markdowns across digital assets and investment positions. The corporate treasury and investment segment recorded a $140 million adjusted gross loss and negative EBITDA of $167 million. The lights are on at Helios. First data hall delivered to @CoreWeave. Our AI data center business is officially generating cash flow. This validates what we've known internally for a while. We have a strong team that can execute at a high level, even as many other data centers… https://t.co/q22A0bxB4t — Mike Novogratz (@novogratz) April 28, 2026 Meanwhile, the total crypto market capitalization fell about 20% during the quarter. Bitcoin declined nearly 24%, marking its steepest quarterly drop since 2018 and closing March near $66,600. As a result, asset values across trading and treasury portfolios faced pressure. Despite losses, total equity increased to $2.8 billion, reflect...