earnings
confidence high
sentiment negative
materiality 0.80
Galaxy Digital Q1 net loss $295M ($0.86/share); CoreWeave ups commitment to 393 MW
Galaxy Digital Inc.
- Net loss of $295M ($0.86 per diluted share) vs Q4 net income of $118M; includes $57M impairment from winding down Helios mining.
- Digital Assets adjusted gross profit $64.8M (-36% QoQ) due to softer asset prices and lower client trading.
- CoreWeave exercised option for additional ~260 MW at Helios, increasing total committed IT load to ~393 MW; deliveries start 2027.
- Preliminary Q2-to-date (thru May 12) operating income estimate $160-170M; equity capital estimated at $2.2B.
- Galaxy completed U.S. domestication; expects to list on Nasdaq on May 16, 2025.