Galaxy Digital reported higher quarterly profit as trading volumes increased 140%, reflecting stronger institutional activity in crypto markets.
News
Galaxy Digital reported strong third-quarter earnings results, driven primarily by higher trading activity and continued expansion in asset management, signaling steady institutional interest in crypto-focused financial services.
The company net income of $505 million for the quarter ending Sept. 30, with adjusted earnings of $629 million, boosted by record results in its digital asset operations and investment gains. Galaxy closed the quarter with $3.2 billion in equity, including $1.9 billion in cash and stablecoins.
Trading volumes jumped 140% from the previous quarter, fueled by increased spot and derivatives volumes. The quarter included the execution of a major client transaction involving the sale of more than 80,000 Bitcoin () — one of the largest crypto trades to date.
While Galaxy did not disclose the client’s identity, it said the sale was part of the investor’s “broader estate planning strategy,” as .
Outside its core trading business, Galaxy is moving into data center and high-performance computing infrastructure. Its Helios campus in Texas is a key part of that push, though it isn’t expected to generate meaningful profits until mid-2026.
In August, to expand the Helios site and said it expects to generate around $1 billion in annual revenue from a long-term partnership with CoreWeave, a US-based cloud computing company specializing in GPU infrastructure for artificial intelligence workloads.
Galaxy Digital shares jumped on the earnings news, climbing nearly 16% at one point before settling higher midday. The stock last traded above $43, up about 9% on the day.
Related:
Although Bitcoin remained largely rangebound during the third quarter, Ether () surged to multi-year highs and several other digital assets showed renewed momentum.
According to CoinGecko’s , the global crypto market expanded for a third consecutive quarter, adding roughly $563 billion in value to reach $4 trillion, its highest level since 2021. Galaxy’s results reflected that broader trend, underscoring continued strength across the digital-asset industry.
The company also stayed active on the strategic front, embracing the growing, though , digital-asset treasury trend. During the quarter, Galaxy plans to participate in a $1.65 billion alongside Cantor Fitzgerald, Multicoin Capital and Jump Crypto.
As , the bull market was also reflected in exchange-traded products, with BlackRock noting that its Bitcoin and Ether iShares funds contributed positively to quarterly earnings, driven by strong investor inflows and fee income.
Related:
