Galaxy posts $505M profit as trading and asset gains surge
Digital asset firm reports record quarterly earnings with $11.5B in assets, boosted by trading, inflows, and Helios expansion
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Galaxy Digital reported net income of $505 million for the third quarter of 2025, driven by record trading performance and gains across digital asset and investment positions.
The company’s adjusted EBITDA rose to $629 million, marking its strongest quarter since listing. The Toronto- and New York–based digital asset firm said total assets grew 27% quarter-over-quarter to $11.5 billion, with $1.9 billion in cash and stablecoins and $3.2 billion in equity.
Galaxy’s Global Markets division led the rebound, delivering a 432% increase in adjusted gross profit to $295 million amid higher spot and derivatives activity. Trading volumes jumped 140% from Q2, including the execution of a $9 billion bitcoin sale on behalf of a client.
The company’s Asset Management & Infrastructure Solutions segment recorded $2 billion of net inflows and ended the quarter with $9 billion in assets under management and $7 billion under stake. Its Treasury & Corporate unit generated $408 million in adjusted gross profit, supported by digital asset and equity investment gains.
Galaxy said its Helios data center campus in Texas remains on schedule, with 133 MW of capacity set to come online in the first half of 2026 under lease to AI infrastructure provider CoreWeave. A newly secured $1.4 billion project financing facility will fully fund the $1.7 billion Phase I build, while Phase II expansion is now under contract.
Recent initiatives include the October 6 launch of GalaxyOne, a unified platform for U.S. investors to access high-yield cash, crypto, and equities, and a $460 million equity investment from an unnamed asset manager to support corporate growth.
Galaxy’s management said the quarter reflects the company’s “record operating performance across trading and asset management,” while noting that data-center earnings will remain immaterial until 2026.
This is a developing story.
This article was generated with the assistance of AI and reviewed by editor Michael McSweeney before publication.
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