Overview
- Galaxy reported roughly $505 million in net income and $629 million in adjusted EBITDA for Q3, with revenue around $29.2 billion and equity of $3.2 billion including $1.9 billion in cash and stablecoins.
- Digital-asset trading volumes rose about 140% quarter over quarter as the firm executed a roughly $9 billion sale of about 80,000 BTC for a client, and Global Markets delivered $295 million in adjusted gross profit.
- Assets on platform reached a record near $17 billion, including about $9 billion in assets under management and roughly $7 billion in assets under stake, while the average loan book size was $1.8 billion.
- Helios Phase I is fully financed with a $1.4 billion project facility, CoreWeave committed to the full 800 MW, and initial 133 MW of IT capacity is targeted for the first half of 2026, with additional 2.7 GW under ERCOT review.
- Shares hit record highs after the release and later pulled back, as Cantor ($53), Canaccord ($50) and Benchmark ($57) raised price targets, and Galaxy highlighted more than $4.5 billion in treasury mandates that it projects will yield about $40 million in annual fees.