Galaxy Digital swings to $323 million Q3 profit and adds $200 million buyback

Galaxy is back in the black. On Oct. 27, 2026, Galaxy Digital Inc. reported third-quarter net income of $323 million, reversing an $85 million loss in the second quarter. Diluted EPS was $0.66 and adjusted EPS $0.83.

Key numbers

• Adjusted gross profit: $569 million; adjusted EBITDA: $455 million (Q2: a $77 million adjusted EBITDA loss).
• Balance sheet: total equity of $3.0 billion; cash, stablecoins and U.S. Treasuries of $4.9 billion, up from $2.5 billion in Q2.
• Total assets: $16.4 billion, up 51% from $10.8 billion.

Trading, lending and data centers

Galaxy said its digital asset trading volumes grew 12% quarter over quarter, while volumes in the broader spot market declined. The average loan book rose 27% to $1.8 billion. Data center leasing revenue was $79.1 million in the quarter, which Galaxy says was the first full quarter of revenue-generating operations under its Helios I, Phase I lease. The company said its gross power pipeline now exceeds 5.7 GW and that it completed a $3.5 billion senior secured notes offering to fund construction of Helios I, Phase II.

Buybacks

Galaxy has repurchased 9.8 million shares year to date, and its board approved an additional $200 million repurchase authorization. The Block reported that Galaxy completed its previous $200 million buyback on Oct. 15, 2026 and that the new program has no fixed end date.

"Our strategy is centered on two significant opportunities in the global economy: the modernization of financial markets through digital assets and the expansion of AI infrastructure," said founder and CEO Mike Novogratz.