Aug. 5 at 1:02 PM
Galaxy Digital Falls After Q2 Miss; Crypto Trading Slumps
Galaxy Digital stock dropped 1.6% to
$28.42 premarket after missing Q2 expectations. EPS came in at
$0.08 (vs.
$0.18 est.) and revenue was
$9.1B (vs.
$13.9B est.), mainly due to a 22% drop in crypto trading volumes and weaker spot activity. Digital-asset sales fell to
$8.6B from
$12.8B in Q1.
On a brighter note, CRWV committed to using all approved power at Galaxy’s Helios (HLIO) data-center campus in Texas. Galaxy also acquired 160 more acres and expects data-center revenue to begin in H1 2026.
Piper Sandler reiterated an Overweight rating with a
$36 PT, citing Helios growth potential.
$GLXY $HLIO