Galaxy

Argo

Galaxy Digital (GLXY) shares <a href="https://finance.yahoo.com/quote/GLXY/" rel="noopener noreferrer nofollow">fell </a>more than 11% on Aug. 5 after the crypto financial services firm reported a second-quarter net loss of $85 million, weighed down by falling digital asset prices despite continued expansion of its artificial intelligence infrastructure business.
The company <a href="https://investor.galaxy.com/static-files/f325cc7a-50b8-48a8-b669-9a53584badca" rel="noopener noreferrer nofollow">posted </a>an adjusted EBITDA loss of $77 million for the quarter ended June 30, improving from a $188 million loss in the first quarter, while total assets rose 9% quarter over quarter to $10.8 billion.&nbsp;
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Management said the quarterly loss was "driven primarily by the depreciation of digital asset prices."
Although the bottom line remained in the red, Galaxy's operating businesses improved sequentially.
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 Galaxy Digital's stock price at the time of writing&nbsp;
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Adjusted gross profit swung to $43 million from an $88 million <a href="https://www.prnewswire.com/news-releases/galaxy-announces-first-quarter-2026-financial-results-302755260.html" rel="noopener noreferrer nofollow">loss in Q1,</a> supported by the first revenue contribution from its data center business.
Galaxy shares were trading at $19.50 at the time of writing, down 11.92% on the day.
<h2 id="bitcoin-miner-turned-ai-infrastructure-company-still-reports-a-loss">Bitcoin miner turned AI infrastructure company still reports a loss</h2>
Galaxy entered Bitcoin mining in 2022 when it <a href="https://www.galaxy.com/newsroom/galaxy-to-acquire-helios-bitcoin-mining-facility-from-argo-blockchain" rel="noopener noreferrer nofollow">acquired </a>Argo Blockchain's Helios mining facility in Texas, describing the site as the foundation of its proprietary mining business.
Since then, the company has repositioned Helios into an AI and high-performance computing campus.&nbsp;
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During the second quarter, Galaxy completed the first phase of its 15-year lease with CoreWeave, bringing 133 megawatts of critical IT load into service.&nbsp;
The data center segment generated $20 million in adjusted gross profit and $11 million in adjusted EBITDA — its first revenue-generating quarter. Galaxy said Phase I is expected to produce about $80 million in quarterly leasing revenue beginning in the third quarter.
The company has also expanded beyond Helios, <a href="https://www.thestreet.com/crypto/markets/public-company-buys-500-acres-for-massive-ai-expansion" rel="noopener noreferrer nofollow">announcing </a>on July 28 the acquisition of three Texas sites that bring its AI power pipeline to more than 5.7 gigawatts, including a 500-acre campus in McGregor.
Despite its AI expansion, Galaxy remains one of the largest publicly traded crypto holders.&nbsp;
The <a href="https://www.coingecko.com/en/treasuries/companies/galaxy-digital-holdings-ltd" rel="noopener noreferrer nofollow">company holds</a> a digital asset treasury worth roughly $1.82 billion, including 25,723 Bitcoin worth about $1.65 billion, 61,137 Ether valued at roughly $114 million, and 775,289 Solana tokens worth about $57 million, making Bitcoin about 91% of its crypto portfolio.&nbsp;
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Popular crypto stock sinks after disappointing Q2 earnings

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