Galaxy Digital (GLXY) reported a net loss of $482 million in the fourth quarter of 2025, with the company’s shares falling more than 6% in pre-market trading.
Shares of the Mike Novogratz-led crypto financial services company are currently trading around $24.70 as investors digest the latest results. The price drop comes as most other cryptocurrency stocks begin to recover following a major market crash that saw Bitcoin lose its status as one of the top 10 assets by market capitalization.
Galaxyt said falling cryptocurrency prices and one-time costs of about $160 million were the main reasons for the losses. On a full-year basis, Galaxy reported a full-year net loss of $241 million, or $0.61 per diluted share.
Despite last quarter’s losses, the company had full-year adjusted gross profit of $426 million and ended with $2.6 billion in cash and stablecoins.
Galaxy, which completed its transformation into a U.S. company last year and is now listed on Nasdaq, reported growth in both its trading and asset management businesses.
The company claimed record trading profits and volumes and said its asset platform attracted $2 billion in net inflows last year, with total assets at the end of 2025 of $12 billion.
In the infrastructure space, the company doubled its approved data center power capacity to more than 1.6 gigawatts following new deals and regulatory approvals in Texas.
