Galaxy Digital reported $323 million of net income for the third quarter of 2026, reversing an $85 million second-quarter loss, as investment gains and data-center expansion reshaped the digital asset company’s earnings profile. Results released October 27 show how the Nasdaq-listed group is combining its cryptocurrency franchise with large-scale AI infrastructure development.
In its official third-quarter results, Galaxy reported $569 million in adjusted gross profit, $455 million of adjusted EBITDA, and diluted earnings per share of $0.66. Adjusted EBITDA and adjusted gross profit are non-GAAP measures and should not be mistaken for net income.
Galaxy swings back to quarterly profit
The $323 million profit contrasts with the preceding quarter’s $85 million net loss. Galaxy said a strong quarter for its established digital-asset activities was accompanied by significant appreciation across its investments portfolio and a growing contribution from the data-center business.
Galaxy reported total equity of approximately $3.0 billion at the September quarter-end, up from $2.7 billion in the second quarter. Cash, stablecoins and U.S. Treasury securities totaled approximately $4.9 billion, versus $2.5 billion three months earlier. That combined amount is a balance-sheet category, not an all-cash figure.
AI infrastructure becomes a bigger part of the story
The company said the potential gross-power pipeline across its data-center developments now exceeds 5.7 gigawatts. Its recent activity includes financing construction at the Helios campus, where demand from AI and high-performance computing customers forms part of its broader strategy.
The pipeline represents development potential rather than installed, revenue-generating electrical capacity. Investors should distinguish planned sites, contracted customers, construction progress and power availability when assessing how much value future deployments may generate.
New repurchase authorization and financing
Galaxy disclosed an additional $200 million authorization to repurchase shares, after buying back 9.8 million shares year-to-date. A board authorization permits repurchases but does not require that the full amount be spent.
The company also completed a roughly $3.5 billion secured-note offering intended to finance a phase of Helios construction. Debt proceeds and cash or Treasury holdings have different financial implications; a larger liquidity balance is not identical to higher operating profitability.
Digital assets and data centers converge
Galaxy’s results illustrate a strategic shift among some listed crypto businesses toward infrastructure that also serves the AI economy. That diversification may create new sources of revenue, but it introduces power, construction, financing and customer-concentration risks distinct from cryptocurrency markets.
Related institutional coverage on BlockBriefing includes OpenWorld’s blockchain shares and preliminary financial results. Galaxy’s figures relate to the three months ended September 30; subsequent market movements are not included in these reported earnings.
Primary source: Galaxy Digital third-quarter earnings release, October 27, 2026. This report is not investment advice.