Galaxy Digital posts $216 million Q1 2026 net loss as crypto prices slide

Galaxy Digital Inc. said it recorded a net loss of $216 million in the first quarter of 2026, as digital asset prices fell about 20% during the period. The company reported an adjusted loss per share of $0.49 and adjusted EBITDA of $188 million. As of March 31, total equity was $2.78 billion. Cash and stablecoin holdings were about $2.605 billion. In data center operations, Galaxy delivered the first data hall at its Helios campus to CoreWeave. The company expects full delivery of 133 MW of critical IT load by the end of Q2 2026. Galaxy also received ERCOT approval for an additional 830 MW of power capacity, lifting the campus' total approved capacity to more than 1.6 GW. In asset management, assets under management were roughly $5 billion at quarter-end, with net inflows of $69 million during the quarter. After the quarter, BlackRock said it selected Galaxy as the staking validator for its first reward-based crypto ETF, the iShares Staked Ethereum Trust ETF. During the quarter, Galaxy repurchased 3.2 million shares for $65 million and completed its delisting from the Toronto Stock Exchange, leaving Nasdaq as its sole listing venue.