Galaxy Digital CEO Mike Novogratz bought roughly $9.9 million of his own company's stock this week.
Novogratz acquired 760,000 Class A shares on Thursday in two batches, a regulatory <a href="https://investor.galaxy.com/static-files/1aa5f4f1-5152-48cb-835f-6c65122fc693" rel="noopener noreferrer nofollow">filing</a> shows. He bought 528,757 shares at a weighted average price of $12.694 and another 231,243 at $13.632, paying about $9.86 million in total, or an average of roughly $12.98 per share.
Company officers and large shareholders must publicly report trades in their own stock within two business days under SEC rules, which is what the filing, known as a Form 4, discloses.
From our archives: Watch GalaxyOne Managing Director Zac Prince on TheStreet Roundtable.
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 Galaxy One launches multi-asset crypto credit line (5:01)
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<h2 id="who-mike-novogratz-is">Who Mike Novogratz is</h2>
Novogratz is the founder and chief executive of Galaxy Digital. Before that, he was a partner at Goldman Sachs and later chief investment officer of the Fortress Macro Fund.
Before Wall Street, he served as a <a href="https://www.galaxygives.com/team/mike-novogratz" rel="noopener noreferrer nofollow">helicopter pilot in the US Army</a> and studied economics at Princeton.
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 <figcaption>Mike Novogratz's Galaxy share purchase and the company's buybacks. Source: SEC Form 4, filed Nov. 5, 2026, and Galaxy's third-quarter 2026 results, Oct. 27, 2026.
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<h2 id="a-personal-buy-not-a-buyback">A personal buy, not a buyback</h2>
The purchases were made through Galaxy Group Funding ECI U LLC, an entity wholly owned by Galaxy Group Investments LLC, which Novogratz controls, according to the filing.
That makes the buys a personal investment by the chief executive rather than a share repurchase by Galaxy itself. Individual fills ranged from $12.34 to $13.87 across the two batches, footnotes in the filing show.
Novogratz also directly holds another 440,338 Class A shares. Most of that figure, 327,065 shares, is tied to restricted stock units, a form of compensation that converts into shares only as it vests.
The filing lists Novogratz as a 10% owner of Galaxy, making him one of its largest shareholders even before this week's purchases.
<h2 id="why-the-buy-stands-out">Why the buy stands out</h2>
The filing does not say why Novogratz bought, and he has not publicly explained the purchases.
The buy adds to money already flowing into the stock from the company itself.&nbsp;
Galaxy repurchased 9.8 million of its own shares in the first nine months of the year, more than offsetting dilution from equity-based pay, and its board approved an additional $200 million buyback authorization, according to its third-quarter <a href="https://investor.galaxy.com/news-releases/news-release-details/galaxy-announces-third-quarter-2026-financial-results" rel="noopener noreferrer nofollow">results</a>.
The company is coming off a profitable quarter.&nbsp;
The Nasdaq-listed firm, a crypto financial services provider that has been expanding into AI data centers, reported third-quarter net income of $323 million in late October, up from $85 million in the prior quarter, with adjusted earnings per share of $0.83 and adjusted EBITDA of $455 million.
<h2 id="much-of-the-momentum-came-from-its-newest-business">Much of the momentum came from its newest business</h2>
Galaxy's data center arm rose to $69 million of adjusted EBITDA from $11 million a quarter earlier as its Helios campus in Texas delivered its first full quarter of revenue under a lease with CoreWeave.&nbsp;
A second phase is fully financed through a $3.5 billion senior secured note offering, with data hall deliveries scheduled to begin in the second quarter of 2027, and Galaxy is marketing another 830 megawatts of approved capacity to prospective tenants.
The balance sheet behind the stock is substantial.&nbsp;
Galaxy ended the quarter with $4.9 billion in cash, stablecoins and U.S. Treasuries, total equity of $3 billion and an average institutional loan book of $1.8 billion, up 27% from the prior quarter.
Open-market purchases by a chief executive are closely watched because they commit personal capital at the same prices available to any investor.
<a href="https://www.thestreet.com/crypto/markets/galaxy-digitals-zac-prince-questions-bitcoin-treasury-firms-model" rel="noopener noreferrer nofollow">Related: Galaxy Digital’s Zac Prince questions Bitcoin treasury firms' model</a>

Billionaire investor buys $9.9 million of Galaxy shares

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