Galaxy Digital drops 5% after Q1 $216M loss tied to digital-asset price declines
Galaxy Digital shares fell about 5% on April 29, 2026 after the company reported a Q1 2026 net loss of $216 million and negative adjusted EBITDA of $188 million. The loss was driven primarily by depreciation in digital-asset prices during the quarter, pressuring sentiment despite progress at its Helios data center build-out.
1) What’s moving the stock
Galaxy Digital (GLXY) is sliding roughly 5% in Wednesday trading (April 29, 2026) as investors digest the company’s first-quarter 2026 results released April 28. The company posted a net loss of $216 million and negative adjusted EBITDA of $188 million, with management attributing the quarter’s loss primarily to depreciation in digital-asset prices.
2) Key numbers investors are reacting to
Beyond the headline loss, Galaxy reported Q1 2026 adjusted gross loss of $88 million. Balance-sheet metrics highlighted in the release included total equity of about $2.8 billion and cash and stablecoins of about $2.6 billion as of March 31, 2026, alongside net digital assets and investments of about $1.36 billion (down 19% quarter over quarter).
3) Offsets: data center progress, but not enough to outweigh the print
Galaxy emphasized operational milestones at its Helios data center campus, including delivery of the first data hall to CoreWeave and a stated plan to deliver substantially all 133 megawatts of critical IT capacity by the end of Q2 2026. The company also highlighted ERCOT approval for an additional 830 megawatts of power capacity at Helios, taking total approved capacity to over 1.6 gigawatts—supportive longer-term, but the near-term earnings impact remains dominated by crypto-market sensitivity.
4) Capital actions and near-term setup
Galaxy said it repurchased 3.2 million shares for $65 million during the quarter, which it framed as more than offsetting dilution from 2025 employee stock-based compensation. With the stock reacting negatively to the Q1 loss, investors are likely to focus next on how quickly the Helios transition from construction to revenue scales through the remainder of Q2 2026 and whether digital-asset price moves continue to dominate quarterly results.