According to Foresight News, Galaxy Digital, a financial services firm focused on digital assets, has reported a significant increase in its revenue and profits for the first quarter. This growth is largely attributed to the rise in revenue from its mining business. Specifically, Galaxy Digital's net profit for the first quarter rose to $421.7 million, an increase of approximately 214% compared to the same period last year. The company's revenue increased from $146.7 million in the same period last year to $259.7 million.
When divided by business scope, the revenue from Galaxy's mining business was $31.5 million, which was a major driving force for the overall revenue growth in the first quarter. In April, Galaxy raised $125 million, which is reserved for expanding its trading business and developing mining infrastructure.