Galaxy Digital Reports $85 Million Q2 2026 Net Loss and 526 MW CoreWeave Lease
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Key Takeaways
- Galaxy reported a Q2 2026 net loss of $85 million, narrowing from a $216 million loss in Q1.
- The company secured a 15-year lease with CoreWeave for 526 MW of critical IT load at the Helios campus.
- Total assets reached $10.8 billion, supported by $2.5 billion in cash and stablecoins.
- Data center capital expenditures for the quarter totaled $448 million.
Galaxy Digital Inc. reported a net loss of $85 million for the second quarter of 2026, an improvement from the $216 million net loss recorded in the first quarter of 2026. The company's adjusted EBITDA loss also narrowed to $77 million, compared to a loss of $188 million in the prior quarter.
Galaxy confirmed a 15-year base lease agreement with CoreWeave (NASDAQ: CRWV) for 526 MW of critical IT load at the Helios campus. The agreement includes terms for an average annual revenue of over $1.2 billion. The Helios campus has a total approved gross power capacity of 1.63 GW, with 800 MW of gross power capacity associated with CoreWeave leases (Phases I, II, and III). Delivered critical IT load for tenants at the end of the second quarter was 133 MW.
Segment-level financial results showed an adjusted EBITDA loss of $19 million for Digital Assets and a $0.9 million adjusted EBITDA loss for Data Centers. The Treasury & Corporate segment recorded an adjusted gross profit loss of $42 million and an adjusted EBITDA loss of $78 million for the period.
Data Centers reported total assets of $2.544 billion and total liabilities of $1.548 billion at the end of the period, with capital expenditures of $448 million for the quarter.
