Galaxy Digital Reports $505M Q3 Profit Amid 140% Trading Surge, Expands AI Infrastructure

Galaxy Digital reported record third-quarter profits of $505 million, a 1,546% increase from the prior quarter, driven by a surge in trading volumes, treasury inflows, and early returns from its artificial intelligence (AI) infrastructure business. The company's total assets rose 27% to $11.5 billion, with platform assets reaching a record $17 billion, fueled by $4.5 billion in new digital-asset-treasury mandates. Galaxy's CEO, Mike Novogratz, highlighted the firm's dual focus as both a digital-asset and a data-center company, with the Helios campus in Texas transitioning from bitcoin mining to an AI-compute facility under a $1.4 billion financing deal with CoreWeave. The firm’s expansion into AI infrastructure aligns with broader market trends, validated by recent major investments in similar data center ventures. Galaxy's shares surged between 8% to 16% following the earnings announcement, reflecting investor confidence in its growth strategy encompassing crypto finance, asset management, and AI infrastructure. Additionally, the company launched GalaxyOne, a platform targeting retail and accredited investors, offering combined stock and crypto trading and high-yield cash products.