Galaxy Posts $216M Q1 Loss as Helios Expansion Advances

Galaxy Digital, led by Mike Novogratz, announced a first-quarter loss of $216 million, an increase from the previous year. Despite a 20% decline in the crypto market capitalization during the quarter, which negatively impacted its holdings and investment values, the company's earnings per diluted share of a $0.49 loss beat analyst expectations. Gross revenue for the quarter was $10.2 billion. The company is strategically shifting its focus from a crypto-market-dependent business to one that will increasingly rely on its Helios data center project in Texas for growth. Galaxy expects its data center business to begin generating revenue in the second quarter of 2026 as its Helios campus, designed for high-performance computing and AI workloads, progresses. The first data hall has been delivered to CoreWeave, and Phase I is on schedule to meet its 133 megawatts of critical IT load by the end of Q2 2026. As of March 31, 2026, Galaxy reported $2.8 billion in equity capital, with allocations across digital assets, data centers, and treasury/corporate holdings.

(Source：Cointelegraph)