Galaxy Digital reported third-quarter net income of $323 million, after a loss of $85 million the previous quarter. But a closer look at its $569 million in adjusted gross profit shows that $419 million came from its Investment and Corporate segment, while the digital assets business contributed just $71 million.
Its data center business generated $79 million in adjusted gross profit, up 293% quarter over quarter, as the 133 MW delivered to CoreWeave entered its first full quarter of billing.
Rather than signaling a recovery in crypto trading, Galaxy’s results were driven by its own balance sheet and computing-power leases. Total assets rose 51% quarter over quarter to $16.4 billion. Cash, stablecoins, and U.S. Treasuries nearly doubled to $4.9 billion, helping fund $3.5 billion in notes to build the second phase of Helios. The data center isn’t due to begin delivery until the second quarter of 2027, so profits in the meantime will still depend on fluctuations in investment-related mark-to-market gains and losses.
#GalaxyDigital #加密股 #AICompute
Its data center business generated $79 million in adjusted gross profit, up 293% quarter over quarter, as the 133 MW delivered to CoreWeave entered its first full quarter of billing.
Rather than signaling a recovery in crypto trading, Galaxy’s results were driven by its own balance sheet and computing-power leases. Total assets rose 51% quarter over quarter to $16.4 billion. Cash, stablecoins, and U.S. Treasuries nearly doubled to $4.9 billion, helping fund $3.5 billion in notes to build the second phase of Helios. The data center isn’t due to begin delivery until the second quarter of 2027, so profits in the meantime will still depend on fluctuations in investment-related mark-to-market gains and losses.
#GalaxyDigital #加密股 #AICompute