Galaxy Rakes in $30.7M Q2 Profit as Bitcoin Stash & AI Gambits Pay Off

Wall Street's crypto darling just flexed again.

Bitcoin Bonanza Meets AI Ambition

Galaxy's treasury now holds more digital gold than a Satoshi fanboy's wildest dreams—and their AI division? Let's just say the machines are working overtime to count those stacks.

The Real Winner? Shareholders (For Now)

That $30.7 million profit didn't materialize from thin air—unless you consider Bitcoin's volatility 'thin air.' Meanwhile, traditional banks are still trying to figure out how to spell 'blockchain.'

One hedge fund manager muttered over his third martini: 'They got lucky with crypto and threw darts at the AI hype cycle.' But hey—profits don't need apologies.

Galaxy Digital earnings rise on crypto appreciation

Galaxy Digital’s adjusted EBITDA was primarily driven by the appreciation of its digital asset holdings and venture capital investments. The company also acquired 4,272 bitcoins in the second quarter, putting its bitcoin reserves at $48 million.

Galaxy Digital reported total holdings of $2.6 billion, primarily in Bitcoin (BTC), ethereum (ETH), and venture investments. The company also holds $1.2 million in stablecoins and cash reserves.

Still, this appreciation is not Galaxy’s only focus. The firm is expanding its data center business to offer computing power for artificial intelligence. It acquired 160 acres of land to expand its Helios data center, following a deal with CoreWeave for additional output.