Galaxy Digital shares drop 13% after $85M Q2 loss

Shares of Galaxy Digital Holdings Ltd. fell sharply on Wednesday, August 5, 2026, after the company reported a quarterly net loss driven by declining cryptocurrency valuations, even as its new data center business began generating revenue for the first time.

The financial services and digital asset firm posted an $85 million net loss for the second quarter, a significant improvement from a $216 million loss in the prior quarter. The loss per share was $0.09. Total revenue for the quarter was $8.7 billion, a figure that fell short of analyst expectations. The company attributed the loss primarily to mark-to-market declines in the value of its digital asset holdings, reflecting a broader downturn in crypto markets during the period.

The company's stock closed at $19.16, down 13.46% for the day following consecutive sell-offs. In premarket trading, shares had fallen approximately 5%.

Despite the overall loss, Galaxy Digital highlighted growth in several core business segments. Its Digital Assets division generated $66 million in adjusted gross profit, a 34% increase from the first quarter. The Global Markets segment contributed $49 million, even as trading volumes declined 7%...