Galaxy Digital (GLXY) shares rose 6.63% to $16.72, gaining $1.04, after the company reported strong third-quarter earnings and announced a new share buyback authorization.
Earnings Recovery
Galaxy Digital reported $323 million in net income for the third quarter, compared with an $85 million loss in the second quarter. Adjusted EBITDA reached $455 million, reversing the previous quarter’s $77 million loss. Adjusted gross profit was $569 million. Diluted earnings per share were $0.66, while adjusted earnings per share stood at $0.83.
The company attributed the improved performance to growth across its digital assets, investments, and data center operations. Results reflected stronger contributions from its digital assets franchise and gains across its investment portfolio.
Share Buyback and Balance Sheet
Galaxy’s board authorized an additional $200 million share repurchase program. The company had already repurchased 9.8 million shares during the first nine months of 2026, exceeding the dilution created by equity-based compensation during the same period.
Total assets increased 51% quarter over quarter to $16.4 billion from $10.8 billion. Total equity climbed 10% to $3.0 billion from $2.7 billion. Net digital assets and investments rose 48% to $1.7 billion from $1.2 billion.
Cash, stablecoins, and U.S. Treasury holdings nearly doubled to $4.9 billion from $2.5 billion. The holdings included $1.325 billion in cash, $812 million in stablecoins, and $2.756 billion in Treasury securities.
AI Data Center Expansion
Galaxy increased its total gross power pipeline to more than 5.7 gigawatts during the quarter. The company completed a $3.5 billion senior secured notes offering to finance construction of Helios I, Phase II, supporting its data center infrastructure development.
Galaxy completed its corporate reorganization in May 2025, establishing the structure for its Nasdaq-listed operations. Since then, it has continued developing digital asset services while expanding into AI infrastructure.
