Galaxy Digital (GLXY) shares tumbled more than 14% on Tuesday to around $22.60 after the crypto financial services firm posted a steep net loss of $482 million for the fourth quarter of 2025, missing analyst expectations. The selloff came even as most other crypto equities were attempting to recover from a prior market rout that saw bitcoin briefly lose its spot among the top 10 assets by market capitalization.
Revenue and EPS Fall Short
Revenue for the quarter came in at $10.2 billion, well below the $12 billion analysts had forecast. Adjusted earnings per share (EPS) landed at a loss of $1.08, worse than the expected loss of $0.99. CEO Mike Novogratz cited declining cryptocurrency prices and one-time costs of about $160 million as the main drivers behind the loss.
Bitcoin Still Under Pressure
At the time of the report, bitcoin BTC traded near $64,168.87, down over 2.5% in 24 hours, while ether ETH lost 4.1%. The broader market had been shaken by a crash that temporarily pushed BTC out of the top 10 global assets by market cap.
Full-Year Highlights: Trading Record and $2B Inflows
Despite the ugly quarter, Galaxy logged an adjusted gross profit of $426 million for the full year 2025 and ended the year with $2.6 billion in cash and stablecoins. Having completed its re-domiciliation to the U.S. and now listed on Nasdaq, the firm reported record trading profits and volumes. Its asset management platform attracted $2 billion in net inflows, bringing total assets under management to $12 billion.
Infrastructure: Doubling Data Center Capacity
Galaxy doubled its approved data center power capacity to over 1.6 gigawatts, fueled by new agreements and regulatory approvals in Texas. The expansion positions the company for growth in crypto mining and high-performance computing.