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Galaxy Digital has announced a significant turnaround in its financial performance, reporting a $30.7 million profit for the second quarter of 2025. This marks a substantial recovery from the previous quarter's $295 million loss, driven by strong gains in its balance sheet holdings and the robust performance of its Global Markets division.
Key Takeaways
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Galaxy Digital achieved a $30.7 million profit in Q2 2025, reversing a substantial prior quarter loss.
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The company's Bitcoin holdings increased to 17,102 BTC, valued at $1.95 billion.
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Adjusted EBITDA reached $211 million, bolstered by treasury gains.
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The Global Markets unit saw a 28% increase in adjusted gross profit despite lower trading volumes.
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Operational milestones include a large BTC sale for a client and expansion of the Helios data center.
Financial Recovery Driven by Strategic Holdings
The digital asset and infrastructure firm attributed its second-quarter success to strategic increases in its balance sheet holdings. Notably, Galaxy's Bitcoin reserves grew to 17,102 BTC, valued at approximately $1.95 billion, up from 13,704 BTC at the end of the first quarter. This expansion signifies a significant increase in its exposure to the leading cryptocurrency.
Overall, Galaxy's total digital assets, encompassing Bitcoin, Ether, USDC, Solana, and XRP, reached a carrying value of $3.56 billion. Bitcoin continues to be the cornerstone of the company's portfolio, representing over half of its fair value-measured assets.
Strong Performance Across Divisions
Galaxy Digital's financial results were further bolstered by strong performance in its various business segments. The company reported an adjusted EBITDA of $211 million, supported by a $228 million adjusted gross profit from its Treasury and Corporate segment. Digital assets contributed $71.4 million in adjusted gross profit, a 10% increase from the prior quarter, although adjusted EBITDA in this segment remained flat due to rising expenses.
The Global Markets division was a standout performer, achieving a 28% quarter-over-quarter increase in adjusted gross profit, totaling $55.4 million. This growth was achieved despite a 22% decline in trading volume, demonstrating the firm's ability to navigate market trends effectively. The average loan book also expanded to $1.1 billion, driven by increased demand for margin lending.
Operational Milestones and Future Growth
Beyond its financial achievements, Galaxy Digital also reached significant operational milestones. The company successfully executed the sale of over 80,000 BTC on behalf of a client, marking one of the largest such transactions to date. Furthermore, its Helios data center campus is undergoing substantial expansion. CoreWeave has committed to the full 800 megawatts of approved capacity, and Galaxy has secured an additional 160 acres and a 1 gigawatt interconnection request, paving the way for up to 3.5 GW of power capacity at the facility.
Galaxy Digital also began trading on the Nasdaq under the ticker GLXY in May, following its corporate reorganization, further solidifying its position in the public market.
Sources
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