Galaxy Digital posted a first-quarter loss of $216 million, or 49 cents per share, beating analyst estimates of 59 cents. Revenue decreased to $10.2 billion from $12.9 billion in the same quarter last year. The company's focus on data centers is growing, with its first data hall at the Helios campus in Texas now operational and leased to CoreWeave for AI workloads. According to the company, 'adjusted gross profit remained relatively stable due to a shift in business mix, with recurring fee revenue and transaction income driving growth and providing resilience in challenging market conditions.' The company also highlighted its disciplined expense management, which helped reduce the adjusted EBITDA loss.
The Helios facility is expected to reach 133 megawatts of computing power by the end of Q2, with an additional 830 megawatts approved, bringing total capacity to over 1.6 gigawatts. Galaxy Digital's shares fell for the second consecutive day, down 0.84% to $24.84.