Bitcoin News
By Sakamoto Nashi
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Crypto Market Dropped 15% by June 30. The broader crypto market didn't help. Total market capitalization fell nearly 15% during the…
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CoreWeave Deal and the Texas Helios Bet. The clearest sign of where Galaxy wants to go is its AI data center push.
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Galaxy Digital had a rough quarter. The firm posted an $85 million net loss for Q2 2026, driven almost entirely by falling cryptocurrency prices that hammered valuations across…
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The numbers landed Wednesday. Revenue dropped 15% from $10.2 billion in Q1, and the net loss worked out to $0.09 per share. Analysts weren't kind about it. The gap between the $12.
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The broader crypto market didn't help. Total market capitalization fell nearly 15% during the quarter, sliding from $2.35 trillion on April 1 to roughly $2 trillion by June 30.
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But it's not all bad. Galaxy did manage an adjusted gross profit of $66 million for the quarter, and adjusted EBITDA came in at $11 million.
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Galaxy's own framing leaned into that point. The company said its business model is less dependent on market volatility than the headline loss makes it look.
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The clearest sign of where Galaxy wants to go is its AI data center push. The company pulled in $20 million in adjusted gross profit from AI data center operations in Q2 alone,…
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To back that up, Galaxy secured $1.4 billion to expand the Texas Helios AI data center. The scale of that commitment is worth sitting with for a second — $1.
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See also: Gold Hits Six-Week High on 82-Tonne Chinese Buying as Bitcoin Stalls
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The Helios expansion fits into a pattern. Galaxy has been quietly building an argument that it's not just a crypto firm anymore — it's an infrastructure company that happens to…
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That cushion isn't fully built yet. The Q2 loss makes that clear.
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Still, the trajectory on the AI side seems to be moving in the right direction. Capacity delivery to CoreWeave is expanding, the 15-year contract gives long-term revenue…
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The $20 million in Q2 AI gross profit is a start. But $20 million against an $85 million net loss is still a gap.
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More context: Bundesbank Finds €3,000 Digital Euro Cap Would Leave Banks Largely Unscathed
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