Galaxy Digital (GLXY) stock fell 13% on Tuesday morning after the company disclosed a $482 million net loss for Q4 2025, largely due to a 24% drop in the total crypto market capitalization over the period.
For the full year, Galaxy posted a net loss of $241 million amid lower market valuations and restructuring-related expenses.
The company closed the year with $3 billion in equity capital, up 38% year-over-year, and $2.6 billion in cash and stablecoins, a 168% increase from the prior year.
Despite market headwinds, Galaxy delivered full-year adjusted EBITDA of $34 million and adjusted gross profit of $426 million, with strong contributions from Trading, Lending, Investment Banking, Asset Management, and Blockchain Infrastructure.
Assets on the platform reached $12 billion, supported by meaningful net inflows and expanded institutional staking capabilities following the acquisition of Alluvial Finance.
Galaxy continued to execute on its infrastructure strategy, progressing construction at the Helios Data Center campus, securing an additional 830 MW of approved power capacity, and positioning the site to deliver over $1 billion in anticipated annual revenue once fully built out under long-term agreements with CoreWeave.