Galaxy Digital posts $85 million Q2 loss as crypto market contracts

Galaxy Digital reported a net loss of $85 million for the second quarter of 2026, equating to a loss of $0.09 per share. The loss was attributed to the decline in cryptocurrency valuations, which reduced the value of the firm’s digital‑asset holdings. Revenue fell 15% to $8.7 billion, down from $10.2 billion in the first quarter and below the $12.7 billion consensus estimate from Yahoo Finance.

Adjusted gross profit rose 34% quarter‑over‑quarter to $66 million, and adjusted EBITDA reached $11 million, indicating improved operating profitability despite the market downturn. AI data‑center activity, driven by a partnership with CoreWeave, contributed $20 million in adjusted gross profit.

The broader crypto market saw total market capitalization drop from $2.35 trillion on April 1 to about $2 trillion by June 30, a decline of roughly 15%. Following the earnings release, Galaxy Digital’s shares fell 6.2% in pre‑market trading to $20.70, extending a near‑10% decline over the past month.