Galaxy Digital (GLXY) Reports $216M Q1 Loss While Advancing CoreWeave Data Center Partnership

Key Takeaways Galaxy Digital recorded a first-quarter net deficit of $216 million, equating to $0.49 per share, surpassing analyst projections of $0.59 Top-line revenue declined to $10.2 billion compared to $12.9 billion in the same period last year First operational data hall at Texas-based Helios campus was transferred to CoreWeave (CRWV) Regulatory green light expanded Helios capacity beyond 1.6 gigawatts, more than doubling previous limits Early second-quarter data suggests approximately $90 million in adjusted EBITDA performance Galaxy Digital disclosed a first-quarter 2026 net deficit of $216 million, yet outperformed analyst projections while accelerating its transition toward AI-focused infrastructure. $GLXY (Galaxy Digital) #earnings are out: pic.twitter.com/q1NwuCRa0D — The Earnings Correspondent (@earnings_guy) April 28, 2026 Wall Street forecasters anticipated losses of $0.59 per share. Galaxy registered $0.49 instead. While the quarter presented challenges, results exceeded expectations. Top-line figures decreased to $10.2 billion from the prior year’s $12.9 billion in the first quarter. Total holdings contracted to $10 billion by period end, sliding from $11 billion at 2025’s close. Digital asset positions declined 19% sequentially to $1.4 billion. Galaxy Digital, GLXY Cryptocurrency market headwinds contributed to the pressure. The overall digital asset market capitalization contracted approximately 20% throughout the three-month period, weighing on Galaxy’s portfolio valuations. Liquid reserves and stablecoin positions remained steady at $2.6 billion. Operational expenditures totaled $147 million, representing a 7% sequential decrease. Additionally, the firm repurchased 3.2 million shares worth $65 million through its $200 million buyback program. Helios Data Center Delivery The quarter’s most significant development may extend beyond financial results — Galaxy completed the transfer of its inaugural data hall at the West Texas Helios campus to Co...