Galaxy Digital Holdings Ltd
OTC:BRPHF
Galaxy Digital Holdings Ltd
Once led by the enigmatic Michael Novogratz, Galaxy Digital Holdings Ltd. emerged from the nascent world of cryptocurrency, strategically positioning itself at the crossroads of traditional finance and digital assets. Founded in 2018, the firm sought to capitalize on the rising tide of decentralized technologies and the shifting sentiments within institutional finance. With its headquarters rooted in the bustling metropolis of New York City, Galaxy Digital has diligently cultivated a business model that spans diverse revenue streams, all underpinned by its commitment to a comprehensive digital asset ecosystem.
The company's architecture pivots on key pillars: trading, asset management, principal investments, and advisory services. The trading division acts as a liquidity provider and market maker, deftly navigating the volatile ebbs and flows of cryptocurrency markets. Through its asset management arm, Galaxy Digital cultivates a roster of investment vehicles aimed at traditional and crypto-savvy investors alike, drawing in performance fees and management revenue. Its principal investments segment fuels innovation by investing in emerging blockchain technologies, while the advisory services leverage industry expertise to guide corporate and institutional clients through the intricacies of blockchain applications and digital transition strategies. Each component cooperates to support Novogratz's vision of bridging Wall Street and the burgeoning blockchain frontier.
Once led by the enigmatic Michael Novogratz, Galaxy Digital Holdings Ltd. emerged from the nascent world of cryptocurrency, strategically positioning itself at the crossroads of traditional finance and digital assets. Founded in 2018, the firm sought to capitalize on the rising tide of decentralized technologies and the shifting sentiments within institutional finance. With its headquarters rooted in the bustling metropolis of New York City, Galaxy Digital has diligently cultivated a business model that spans diverse revenue streams, all underpinned by its commitment to a comprehensive digital asset ecosystem.
The company's architecture pivots on key pillars: trading, asset management, principal investments, and advisory services. The trading division acts as a liquidity provider and market maker, deftly navigating the volatile ebbs and flows of cryptocurrency markets. Through its asset management arm, Galaxy Digital cultivates a roster of investment vehicles aimed at traditional and crypto-savvy investors alike, drawing in performance fees and management revenue. Its principal investments segment fuels innovation by investing in emerging blockchain technologies, while the advisory services leverage industry expertise to guide corporate and institutional clients through the intricacies of blockchain applications and digital transition strategies. Each component cooperates to support Novogratz's vision of bridging Wall Street and the burgeoning blockchain frontier.
Net Loss: Galaxy reported a GAAP net loss of $241 million for 2025, or $0.61 per share, impacted by $160 million in one-time items such as write-downs and corporate reorganization costs.
Data Center Expansion: The company secured approval for an additional 830 megawatts of power at its Helios campus, more than doubling its approved capacity to over 1.6 gigawatts and positioning Helios as one of the largest AI data center campuses in development.
Crypto Market Impact: The digital assets segment faced pressure due to a 24% drop in total crypto market cap in Q4, but Galaxy still achieved record adjusted gross profit of $505 million for the year, up 67% year-over-year.
Strong Loan Book: The average loan book held steady at $1.8 billion in Q4 despite market declines, demonstrating strong underlying demand and disciplined risk management.
Capital Raise: Galaxy raised $1.6 billion in Q4 through a $1.3 billion exchangeable note and a $325 million equity investment, boosting cash and stablecoins to $2.6 billion.
Guidance: Data center revenue from the CoreWeave lease is expected to begin in Q1 2026 as the first data halls are delivered, marking a transition to operational cash flow.
Industry Position: Management emphasized Galaxy's strategic position as a partner for institutions in both traditional and digital finance, highlighting growth in tokenization and infrastructure solutions.
