Galaxy reports $85M net loss amid Q2 crypto market slump
Galaxy Digital posted an $85 million net loss in Q2 2026, equal to a $0.09 loss per share, as falling crypto prices weighed on results. Revenue was $8.7 billion, down 15% from Q1 and below the $12.7 billion analyst consensus. Shares fell 6.2% in premarket trading, adding to a nearly 10% monthly decline. The broader crypto market cap dropped nearly 15% during the quarter, from $2.35 trillion to $2 trillion. Even so, Galaxy reported $66 million in adjusted gross profit from digital assets and an adjusted EBITDA loss of $11 million, with adjusted gross profit up 34% quarter over quarter. The company said this shows its earnings are becoming less tied to crypto price direction. Galaxy also generated $20 million in adjusted gross profit from AI data centers as it expanded delivery to CoreWeave, and expects $1 billion in annual revenue from that 15-year partnership.
