Galaxy Digital reported a significant return to profitability for the second quarter, driven by strategic Bitcoin accumulation and strong treasury gains.
The company achieved net income of $30.7 million and Adjusted EBITDA of $211 million. This positive result marks a sharp reversal from a net loss of $295 million reported in the prior quarter.
Central to this turnaround was Galaxy Digital’s substantial increase in Bitcoin holdings. The firm acquired an additional 4,272 BTC during the quarter, bringing its total holdings to 17,102 BTC. This position had a market value of approximately $1.95 billion by the end of June.
Operational units showed strong performance. The Global Markets division posted a 28% quarter-over-quarter increase in adjusted gross profit, reaching $55.4 million.
Galaxy Digital also highlighted key business activities. The firm successfully completed the sale of over 80,000 BTC on behalf of a client and significantly expanded its Helios bitcoin mining campus, securing an additional 160 acres of land and 800 megawatts of approved energy capacity.
A significant corporate milestone was also reached during the quarter as Galaxy Digital commenced trading on the Nasdaq stock exchange.