Galaxy Digital Q3 Profit $505M, Trading Volume Surges 140%
Galaxy Digital posted net income of $505 million and $629 million in adjusted earnings in Q3, driven by a 140% surge in spot and derivatives trading after executing a single 80,000 BTC client trade. The firm closed the quarter with $3.2 billion in equity and $1.9 billion in cash and stablecoins, ensuring ample liquidity for growth. Galaxy Digital continues building its Helios high-performance computing campus in Texas, secured a $1.4 billion expansion loan, and formed a long-term GPU infrastructure partnership with CoreWeave expected to generate $1 billion annually. Its asset management arm expanded mandates and joined a $1.65 billion Solana treasury initiative alongside Cantor Fitzgerald, Multicoin Capital, and Jump Crypto. Following the earnings release, GLXY shares jumped nearly 16% intraday and closed up 9%, underscoring strong institutional demand amid a crypto market that has topped $4 trillion.
Bullish
The strong Q3 results, anchored by a 140% surge in trading volume and a large 80,000 BTC trade, signal robust institutional demand for Bitcoin and crypto services. Galaxy Digital’s solid liquidity position, strategic expansion of its Helios HPC campus, and a lucrative GPU infrastructure partnership with CoreWeave, along with participation in a significant Solana treasury initiative, reinforce confidence in future growth. The immediate stock rally and the booming overall crypto market cap suggest bullish momentum for BTC, likely driving higher trading activity and market stability in both the short and long term.