Galaxy Digital Reports Q2 Loss as Data Center Expansion Accelerates

The company reported an adjusted gross profit of $43 million for the quarter, marking a recovery from the $88 million loss seen in the first quarter of 2026. This performance was bolstered by the Data Centers segment, which turned profitable with $20 million in adjusted gross profit as the Helios campus in West Texas fully operationalized its initial 133 MW of critical IT load. Galaxy has now moved to expand this capacity, recently acquiring three additional sites—Merlin, Caspian, and Selene—to meet rising demand for AI and high-performance computing infrastructure.

Financial stability remains supported by $2.7 billion in total equity and $2.5 billion in cash and stablecoin holdings. Beyond infrastructure, Galaxy is deepening its institutional reach through a multi-year agreement with BNY to advance digital asset custody and staking capabilities. While the core digital asset trading business faced a 7% decline in volumes, the firm continues to prioritize long-term growth in AI infrastructure, recently completing a $3.5 billion senior secured note offering to fund further construction at the Helios facility.