Galaxy profit jumps 1,500% in record quarter as Novogratz calls Helios AI-compute campus its ‘cornerstone’

Galaxy Digital reported its best quarter ever, with profit surging 1,546% to $505 million, driven by record trading volumes and treasury gains, alongside momentum in its artificial intelligence infrastructure business. CEO Mike Novogratz emphasized the company's dual focus, stating, "We're half a data-center company and half a digital-assets company," highlighting the 800-megawatt Helios campus in Texas as the "cornerstone" of its future. This campus, formerly a major bitcoin mine, is being refitted for AI workloads under a lease with CoreWeave, a transition validated by recent major deals in the AI data center space. The digital assets division saw adjusted gross profit of $318 million, boosted by a $9 billion bitcoin transaction for a client. CFO Chris Ferraro called it a "breakout quarter," with revenue from Helios expected to start contributing in the first half of 2026, as Galaxy bridges digital finance with AI compute demand.

(Source：The Block)