Finance
What You Need to Know (And Why It Matters):
- Galaxy Digital managed to narrow its first-quarter loss to a mere $216 million-because nothing says “steadier revenue” like a bit of financial jiu-jitsu.
- After the quarter, the company handed its first data-center hall to CoreWeave, because apparently, leasing out servers is the new “I’m sorry” for crypto bros.
- It also secured approval to double the Helios data center power capacity to over 1.6GW, because why not? AI infrastructure is just a fancy way of saying “we’re building a temple for the gods of machine learning.”
Galaxy Digital (GLXY) narrowly avoided a total collapse, thanks to a shift in business mix and a newfound commitment to not throwing money at every passing trend. The company lost $216 million, or 49 cents a share-less than the 59 cents analysts had pessimistically predicted. Revenue? Down to $10.2 billion from $12.9 billion. Because nothing says “resilience” like a 20% drop in income.
The company is increasingly focusing on the growing demand for data centers, and this month delivered its first data hall at the Helios campus in Texas to CoreWeave (CRWV), marking the start of revenue under a long-term lease tied to artificial intelligence workloads. Because nothing says “future-proof” like renting out server space to a company that probably still uses dial-up for its mainframe.
“Adjusted gross profit remained broadly stable, reflecting a shift in the business mix as recurring fee revenue and transaction income continue to scale and provide greater resilience in softer market conditions,” the company said in a statement. Translation: “We’re not entirely broke, but we’re definitely not rich either.”
The Helios facility is set to deliver 133 megawatts of computing power by the end of the second quarter. The company also secured approval for an additional 830 megawatts of power at the site, bringing total capacity to more than 1.6 gigawatts. Because why settle for a little power when you can have a lot? (Answer: because you’re running a data center, not a nightclub.)
GLXY shares fell for a second day, and were recently 0.84% lower at $24.84. Because nothing says “investment opportunity” like a steady decline.
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2026-04-28 17:18