Galaxy Digital
Provides institutional digital-asset services and develops AI and high-performance-computing data centers.
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Profile
Provides institutional digital-asset services through Global Markets and Asset Management & Infrastructure Solutions, while developing AI and high-performance-computing data centers. The Helios campus in West Texas links the infrastructure business to long-term power development.
Operates two businesses: Digital Assets and Data Centers. Digital Assets combines Global Markets with Asset Management & Infrastructure Solutions, providing institutional digital-asset services, while Data Centers develops infrastructure for AI and high-performance-computing workloads.
Helios, its West Texas campus, began as a bitcoin-mining facility and has become the anchor of the data-center expansion. The company’s evolution pairs digital-asset activities with a second infrastructure business rather than a mining-only operation.
Founded by Michael Novogratz, the platform has operated since 2018 and completed its Nasdaq transition as a Delaware company in 2025. Its business depends on digital-asset markets and on approvals and power development at Helios.
Company facts
Categories
Key statistics
Year to date −6.2% · Average volume (30d) 6.6M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 6, 2026 | BTIG | Target | $35 | $45 | |
| Aug 3, 2026 | Rosenblatt Securities | Target | $44 | $35 | |
| Jul 17, 2026 | Piper Sandler | Reiterate | Overweight | $36 | $33 |
| Apr 29, 2026 | Morgan Stanley | Target | $42 | $37 | |
| Apr 26, 2026 | Chardan Capital | Target | $35 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | −$0.46 | −$0.09 | +80.5% | $8.85B | $8.71B | −1.6% | −13.87% |
| Apr 28, 2026Q1 FY26 | −$0.44 | −$0.49 | −11.4% | $8.73B | $10.21B | +17.0% | −3.57% |
| Feb 3, 2026Q4 FY25 | −$1.24 | −$1.08 | +12.9% | $12.01B | $10.22B | −14.8% | −8.28% |
| Oct 21, 2025Q3 FY25 | $0.38 | $1.12 | +194.7% | $18.62B | — | — | −12.88% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $12.98B | $9.06B | $29.22B | $10.22B | $10.21B | $8.71B | |
| Gross profit | $15.6M | $420.2M | $918.7M | −$88.7M | $190.6M | $224.7M | |
| Operating income | −$145.0M | $308.1M | $756.4M | −$224.3M | $66.7M | −$128.9M | |
| Net income | −$295.4M | $14.5M | $208.5M | −$195.4M | −$94.5M | −$17.9M | |
| Diluted EPS | −$2.31 | $0.10 | $1.01 | −$1.03 | −$0.49 | −$0.09 | |
| Gross margin | 0.1% | 4.6% | 3.1% | -0.9% | 1.9% | 2.6% | |
| Operating margin | -1.1% | 3.4% | 2.6% | -2.2% | 0.7% | -1.5% |
Fiscal years (4-quarter sums)FY21 $0 · FY22 $0 · FY23 $0 · FY24 $43.26B · FY25 $61.48B
Balance sheet, Jun 30, 2026Cash & short-term investments $1.55B · Total debt $3.26B · Total assets $10.84B · Shareholders' equity $1.82B
Dividends
No dividends on record.
Ownership
Institutions and insiders are filed separately and overlap, so together they can pass the whole company. No split is drawn from them.
Shares outstanding 331.69M · Float 109.35M · 33.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Galaxy Group Investments LLC · 10 percent owner | 192.12M | 57.92% | Form 4 | Oct 14, 2025 |
| Michael Novogratz · director, 10 percent owner, officer: Chief Executive Officer | 190.91M | 57.56% | Form 4 | Jun 2, 2026 |
| Capital Research Global Investors | 18.33M | 5.53% | 13F | Aug 12, 2026 |
| FMR LLC | 16.50M | 4.97% | 13F | Aug 13, 2026 |
| BlackRock, Inc. | 9.83M | 2.96% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 12, 2026 | Douglas R. Deason | director | +12,000 | $21.54 |
| Aug 6, 2026 | Robert Daniel Rico | officer: Chief Accounting Officer | −9,095 | $19.66 |
| Aug 10, 2026 | Steven John Bandrowczak | director | +5,100 | $19.63 |
| Jun 15, 2026 | Robert Daniel Rico | officer: Chief Accounting Officer | −19,000 | $34.22 |
| Jun 9, 2026 | Robert Daniel Rico | officer: Chief Accounting Officer | −19,000 | $31.62 |
Peers
- Coinbase
Institutional crypto trading, custody, financing, and staking.
- IREN
AI/HPC data-center and cloud-infrastructure provider.
- Core Scientific
High-density colocation for AI, cloud, and hyperscale workloads.
- Hut 8
Power, digital-infrastructure, and compute platform for AI.
- Cipher Digital
Hyperscale HPC data-center developer and operator.
- Bitdeer
Bitcoin-mining, AI-cloud, and HPC-data-center operator.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Galaxy Digital | $23.29 | +0.30% | $7.70B | — | — | 0.1 | +0.6% |
| Coinbase | $178.50 | −0.02% | $47.13B | — | 206.3 | 8.5 | −18.5% |
| IREN | $35.60 | +0.46% | $12.65B | — | — | 16.7 | −26.8% |
| Core Scientific | $16.58 | +0.28% | $5.31B | — | 312.6 | 12.0 | +108.8% |
| Hut 8 | $79.75 | +0.41% | $8.94B | — | — | 30.8 | +81.4% |
| Cipher Digital | $15.18 | +0.06% | $6.21B | — | — | 32.5 | −43.0% |
| Bitdeer | $10.32 | +0.10% | $2.41B | — | — | 3.0 | +47.1% |
| Median | — | 259.5 | 14.4 | +14.3% |