Galaxy Digital Inc. (NASDAQ:GLXY) reported net income of $323 million for the third quarter ended September 30, 2026, compared with a net loss of $85 million in the preceding quarter, as its data center operations contributed higher revenue and adjusted earnings.
The digital asset and data center infrastructure company recorded adjusted EBITDA of $455 million and adjusted gross profit of $569 million during the quarter. Diluted earnings per share reached $0.66, while adjusted earnings per share totaled $0.83.
Galaxy also reported growth in its balance sheet, expanded its data center development pipeline and announced a new $200 million share repurchase authorization following the completion of an earlier buyback program.
Galaxy Digital reported third-quarter net income of $323 million, reversing the $85 million net loss recorded in the second quarter of 2026.
Adjusted EBITDA totaled $455 million, while adjusted gross profit reached $569 million.
The company reported diluted earnings per share of $0.66 and adjusted earnings per share of $0.83.
Total assets increased 51% quarter over quarter to $16.4 billion as of September 30, 2026.
Total equity stood at $3.0 billion at the end of the reporting period.
The quarterly results reflected contributions from Galaxy’s data center and digital asset businesses, alongside changes in the company’s financial position.
Galaxy’s Data Centers segment recorded adjusted gross profit of $79 million during the third quarter, compared with $20 million in the preceding quarter.
Segment adjusted EBITDA increased to $69 million from $11 million in the second quarter.
The results included the first full quarter of revenue associated with the Helios I, Phase I lease.
Under the arrangement, Galaxy delivered 133 megawatts of critical information technology load to CoreWeave.
The contribution from this lease was a factor in the increase in adjusted gross profit and adjusted EBITDA reported by the Data Centers segment.
Galaxy completed a $3.5 billion offering of senior secured notes to finance construction of Helios I, Phase II.
The company expects deliveries of data halls associated with the second phase to begin in the second quarter of 2027.
The financing supports the next stage of development at the Helios data center facility, following the delivery of capacity under the initial phase.
Galaxy also reported that its total gross power pipeline now exceeds 5.7 gigawatts.
The pipeline figure represents the company’s reported development capacity and should be distinguished from infrastructure that has already been completed or placed into service.
Galaxy’s Digital Assets segment reported adjusted gross profit of $71 million for the third quarter.
The figure represented a 9% increase compared with the preceding quarter.
Combined assets under management and assets under stake reached $10.4 billion, an increase of 46% quarter over quarter.
The figures reflected growth in the assets managed or supported through staking activities within Galaxy’s digital asset operations.
The company also announced an agreement intended to expand its institutional digital asset infrastructure services.
Galaxy entered into a multi-year agreement with BNY to develop digital asset infrastructure for institutional markets.
The arrangement includes support for staking services through BNY’s Digital Asset Custody platform.
The agreement is intended to support institutional access to digital asset infrastructure and related services.
Galaxy did not disclose the financial value of the agreement in the supplied announcement.
The partnership forms part of the company’s Digital Assets business activities alongside asset management and staking operations.
Galaxy reported combined holdings of cash, stablecoins and U.S. Treasury securities totaling $4.9 billion at September 30, 2026.
The figure compared with $2.5 billion at the end of the second quarter.
The increase represented approximately 96% quarter-over-quarter growth.
The company also reported total assets of $16.4 billion and total equity of $3.0 billion at quarter end.
These figures provide information about Galaxy’s financial position as it continues developing its data center operations and digital asset businesses.
Galaxy reported repurchasing approximately 9.8 million shares during 2026 under a $200 million share repurchase program.
The company completed that program on October 15, 2026.
Following its completion, Galaxy’s board of directors authorized a new $200 million share repurchase program on October 26, 2026.
The new authorization provides the company with the ability to undertake additional share repurchases, subject to its capital allocation decisions and applicable conditions.
The announcement did not specify the timing or volume of repurchases under the newly authorized program.
Galaxy’s third-quarter results showed a return to net profitability, higher adjusted earnings from its Data Centers segment and growth in assets associated with its Digital Assets business.
The company reported the first full quarter of revenue from its Helios I, Phase I lease and secured $3.5 billion in financing for the next phase of construction.
Deliveries of data halls for Helios I, Phase II are scheduled to begin in the second quarter of 2027.
Other developments include the company’s institutional digital asset agreement with BNY and the newly authorized $200 million share repurchase program.
Future financial and operational reports will provide additional information about data center construction, the timing of capacity deliveries, digital asset business performance and the deployment of capital.
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