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UNIGalaxy Digital posts $323m Q3 profit and adds $200m buyback
Mike Novogratz's crypto investment firm swung to a $323m net profit for the three months to 30 Sept, helped by investment gains and AI data centre growth, and authorised a further $200m share buyback.
Key points
- Galaxy Digital reported $323m net income and $455m adjusted EBITDA for Q3 2026, reversing an $85m loss in the second quarter.
- Its AI data centre division posted $79m in adjusted gross profit, nearly four times the $20m of the previous quarter, on the CoreWeave lease at Helios in Texas.
- The board approved a new $200m buyback on 26 Oct after the previous $200m programme was completed on 15 Oct with about 9.8m shares repurchased.
Galaxy Digital returned to profit in the third quarter of 2026, reporting $323m in net income against an $85m loss in the previous quarter, Bitcoin.com News reports. The Mike Novogratz-led firm also posted $455m in adjusted EBITDA and $569m in adjusted gross profit for the three months ended 30 Sept. Diluted earnings per share were $0.66, or $0.83 on an adjusted basis.
The treasury and corporate division drove much of the improvement, with $419m in adjusted gross profit after a $42m loss in the second quarter, as its investment portfolio appreciated. The digital assets business made $71m in adjusted gross profit, up 9%, though it still recorded a $9m adjusted EBITDA loss. Trading volumes rose 12% quarter over quarter, the average loan book grew 27% to $1.8bn and combined assets under management and staking reached $10.4bn.
AI data centres
Galaxy's data centre arm generated $79m in adjusted gross profit, nearly quadrupling the prior quarter, in the first full quarter of revenue under its lease with CoreWeave at the Helios campus in Texas. The company raised $3.5bn in senior secured debt for the second phase of Helios I and is seeking tenants for 830 megawatts of approved but unleased capacity at Helios II.
Galaxy's board approved a further $200m share repurchase programme on 26 Oct, after an earlier $200m buyback closed on 15 Oct with about 9.8m shares bought. Total assets rose 51% to $16.4bn. Shares closed up more than 9.5% at $17.18 but remain down about 23% since the start of the year.
What to watch: Galaxy expects to begin delivering additional data halls at Helios I in the second quarter of 2027.
Live updates on NewsFeeds:AltcoinsDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)
How this was produced: an AI model wrote this summary of Bitcoin.com News’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.
Not investment advice. Read the risk disclaimer.