Galaxy Digital Holdings ( (BRPHF) ) has released its Q3 earnings. Here is a breakdown of the information Galaxy Digital Holdings presented to its investors.
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Galaxy Digital Holdings Ltd., a leading player in the digital asset and blockchain technology sector, provides a comprehensive suite of financial services, including trading, lending, investment solutions, and infrastructure services. Headquartered in New York City, Galaxy serves a diverse range of clients globally.
In its third-quarter 2024 earnings report, Galaxy Digital Holdings announced a net loss of $54 million, a significant improvement from the previous quarter. Despite challenging market conditions, the company achieved over 30% growth in operating revenue quarter-over-quarter, showcasing resilience in its core operations.
Key highlights of the quarter include a substantial increase in counterparty trading revenue, which rose by 117% to $54 million, despite a decline in trading volumes. The company also reported a rise in its average loan book size, reflecting increased demand for its lending services. Galaxy’s asset management division saw a slight increase in assets under management, driven by net inflows into its passive and active ETF strategies.
Additionally, Galaxy executed a non-binding term sheet with a U.S.-based hyperscaler for high-performance computing at its Helios campus in West Texas, which could potentially utilize up to 800 megawatts of power capacity. The company is also progressing towards its reorganization and potential Nasdaq listing, contingent upon regulatory approvals.
Looking ahead, Galaxy Digital remains focused on completing its reorganization and expanding its infrastructure capabilities, positioning itself to capitalize on emerging opportunities in the digital asset ecosystem.
