Galaxy Digital shares jump 10% as Q3 profit surges on record trading volumes

Investing.com - Galaxy Digital Holdings Ltd (NASDAQ:GLXY) (TSX:GLXY) reported a substantial increase in third-quarter profit on Wednesday, driven by record digital asset trading volumes and significant gains across its investment portfolio, sending its shares up 10%.

The digital asset financial services firm posted adjusted earnings per share of $1.12 for the third quarter of 2025, with revenue reaching $28.4 billion. Net income soared to $505 million, a 1,546% increase from $30.7 million in the previous quarter. Adjusted EBITDA climbed 198% quarter-over-quarter to $629 million.

The company’s Global Markets division achieved record results with a 140% increase in digital asset trading volumes compared to the second quarter, including executing a $9 billion bitcoin sale of over 80,000 bitcoin for a client. Total assets on platform reached an all-time high of approximately $17 billion at quarter end.

"Our record third quarter results demonstrate the strength of our diversified business model and our ability to capitalize on increased market activity," said a Galaxy Digital executive. "We’ve seen tremendous momentum across our trading, asset management, and infrastructure businesses."

Galaxy’s Asset Management & Infrastructure Solutions division generated $23 million in adjusted gross profit, fueled by more than $2 billion in net inflows into its alternatives suite and ETFs. The company ended the quarter with nearly $9 billion in assets under management and $7 billion in assets under stake.

The firm also made significant progress on its Helios data center campus, securing a $1.4 billion project financing facility to fully fund the $1.7 billion Phase I build. Galaxy executed a lease agreement with CoreWeave for Phase II of the development, with CoreWeave committing to the full 800 MW of approved power capacity.

Galaxy’s balance sheet remained strong with total equity of $3.2 billion and holdings of $1.9 billion in cash and stablecoins as of September 30, 2025, up 62% from the previous quarter.

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