London, August 2025 – Galaxy Digital has rebounded from a steep loss in the first quarter to post a net profit of $30.7 million in Q2 2025, supported by strong growth in its Bitcoin holdings and performance across several business segments. The digital asset and infrastructure firm had recorded a $295 million loss in Q1, making this turnaround a significant development for the company and its investors.
Bitcoin Holdings Surge Over 4,200 in Q2
Galaxy’s balance sheet revealed a notable increase in its Bitcoin holdings, climbing from 13,704 BTC at the end of Q1 to 17,102 BTC in Q2. This 4,272 BTC addition brought the total value of its Bitcoin assets to approximately $1.95 billion, based on the prevailing BTC price of $113,057.
The company’s total digital asset portfolio, which includes Ether, USDC, Solana and XRP, reached a carrying value of $3.56 billion. Bitcoin remains the most dominant asset in its portfolio, accounting for more than half of the fair value of Galaxy’s holdings.
Galaxy’s crypto holdings. Source: Galaxy
Strong Treasury Gains Drive EBITDA to $211 Million
Galaxy reported an adjusted EBITDA of $211 million for the quarter, largely powered by $228 million in adjusted gross profit from its treasury and corporate segment. Its digital assets division also contributed $71.4 million in adjusted gross profit, reflecting a 10 percent quarter-on-quarter increase.
Despite this gain, adjusted EBITDA from the digital assets business remained flat at $13 million due to rising expenses. Nevertheless, CEO Mike Novogratz expressed optimism about the company’s momentum, describing July as “the best month we had at Galaxy” and noting that “all our businesses are starting to fire on all cylinders.”
Global Markets Division Outperforms Despite Volume Drop
Galaxy’s Global Markets unit delivered a 28 percent quarter-over-quarter increase in adjusted gross profit, reaching $55.4 million. This performance is particularly noteworthy given that trading volume fell 22 percent during the same period. The company attributed this outperformance to improved trading strategies and effective market positioning.
The average loan book for the quarter expanded to $1.1 billion, driven by growing demand for margin lending services.
Asset Management Sees Profit Dip but Asset Growth
The asset management and infrastructure solutions segment saw a 26 percent decline in profits, attributed to a slowdown in onchain activity and reduced staking rewards. However, total assets under management and stake increased by 27 percent, reaching $9 billion. This growth was supported by rising cryptocurrency prices and fresh capital inflows from investors.
Galaxy’s expanded Helios campus. Source: Galaxy
Operational Milestones and Nasdaq Debut
In addition to financial gains, Galaxy marked significant operational achievements. The company executed a major transaction involving the sale of over 80,000 BTC on behalf of a client, making it one of the largest such deals in the industry.
Expansion efforts at its Helios data centre campus also progressed, with CoreWeave committing to the full 800 megawatts of approved capacity. Galaxy further secured 160 additional acres and a 1 gigawatt interconnection request, laying the groundwork for scaling the Helios site to a total capacity of 3.5 gigawatts.
Following a recent corporate reorganisation, Galaxy began trading on the Nasdaq under the ticker symbol GLXY in May, reinforcing its presence in the public markets.
