Galaxy Digital posts $323M Q3 profit, adds $200M buyback

Galaxy Digital (Nasdaq: GLXY) reported third-quarter 2026 results on October 27, posting net income of $323 million, a turnaround from an $85 million loss in the second quarter. The board also approved a new $200 million share repurchase authorization.

Details

According to the company's press release filed with the SEC, adjusted gross profit was $569 million and adjusted EBITDA $455 million. Diluted EPS was $0.66 and adjusted EPS $0.83. Total equity stood at $3.0 billion, with $4.9 billion in cash, stablecoins and U.S. Treasuries.

Digital asset trading volumes rose 12% from the prior quarter, and assets under management and stake reached $10.4 billion, up 46%. The Block reported that the treasury and corporate segment was the main driver, with $419 million in adjusted gross profit from higher digital asset valuations and private investments. Data centers contributed $79 million, up from $20 million a quarter earlier.

Galaxy has repurchased 9.8 million shares year to date; the new $200 million authorization adds to the existing program. CEO Mike Novogratz expects annualized data center leasing revenue of $800⁠–⁠850 million by the end of 2027.

What it means for the market

Galaxy is one of the largest listed crypto-focused firms, so its results are watched as a gauge of institutional crypto activity. This quarter's profit leaned on asset revaluations and AI-driven data center growth rather than trading alone. For bitcoin's current price, see the daily brief.