Galaxy Digital Reports $295 Million Q1 Loss Before Nasdaq US Listing

Galaxy Digital Holdings booked a net loss of $ 295 million in a disappointing first quarter of a silence in the cryptocurrency market, the company announced on Tuesday before the American markets opened.

Galaxy, which will list his shares at the Nasdaq this Friday as part of a larger reorganization approved last month by the US Securities and Exchange Commission, reported a loss of $ 0.86 per share, a decrease of the $ 388 million Galaxy booked in the quarter of the year.

Those decreases, although the company clocked $ 12.9 billion in income in the first quarter, an increase of 38% compared to the last quarter of 2024.

Decrypt Galaxy Digital achieved for extra comments.

The company also reported that according to the company’s statement it had $ 1.9 billion in equity and $ 1.07 billion in cash and net stablecoins.

The matte financial results of the company came then investors of digital assets penetrate gold and other risk-off assets in the midst of growing geopolitical uncertainty in different markets. Crypto prices and shares fell and float around $ 80,000 in March, while crypto investors withdrew from the market after losing billions of dollars in Memin Coins linked to high-profile people such as US President Donald Trump and Argentinian President Javier Milei.

(Since then crypto prices have been recovered, with Bitcoin recently traded by around $ 104,200, about 4% discount on his all time.)

It is also in the midst of the push of the company to expand his partnership with cloud-computing startup CoreWeave, where Galaxy is moving to offer a larger IT tax for the artificial intelligence of CoreWeave and powerful calculation activities on the Helios Data Center campus.

Earlier this month, that push could get a boost from the decision of the shareholders to redomicile Galaxy again in the US, where supervisors have overhauled their priorities to support emerging technology companies and investors and deposit their dollars into tech-related shares.

Galaxy shares are mentioned on the Nasdaq on May 16.

On the Toronto Stock Exchange, the shares of the company are traded at $ 27.32 CAD – Down 3% in the last day, but an increase of 117% in the past year.

Published by James Rubin and Andrew Hayward