Galaxy Digital Reports $482M Net Loss in Q4 2025

The crypto company reported significant net losses to its balance sheet in 2025 due in part to “lower digital asset prices and approximately $160 million of one-time costs.“

Digital assets and AI infrastructure company Galaxy Digital reported a net loss of $241 million over 2025 and a loss of $482 million in the fourth quarter alone, citing a decline in crypto prices over the year.

In its quarterly financial statements shared Tuesday, Galaxy said its losses over Q4 2025 were “driven primarily by the depreciation of digital asset prices,” while its annual losses were due in part “to lower digital asset prices and approximately $160 million of one-time costs during the year.” The price of Bitcoin (BTC) dropped by about 20% in the fourth quarter of 2025.

“You have the crypto coins — Bitcoin, Ethereum, Solana, you name ‘em — have been in a bear market,” said Galaxy CEO Michael Novogratz in a Tuesday shareholder update call, adding:

“I do think that we’re in the lower end of the range [of Bitcoin price]. What I would say is that we’ve been here before. Anyone who’s been in crypto for more than five years realizes that part of the ethos of this whole industry is pain and that often when things feel worse, it’s time to be very focused and potentially accumulating or at least getting prepared to.”

Despite net losses, Galaxy reported an adjusted gross profit of $426 million for full-year 2025 and ended with $2.6 billion in cash and stablecoins. It reported ending 2025 with $12 billion in total platform assets and $2 billion in net inflows to its asset management arm.

Galaxy announced in August that it would be accelerating its plans for an artificial intelligence data center in Texas. The company reported that it had received approval from the Electric Reliability Council of Texas for an additional 830 megawatts of power capacity in January, bringing its facility’s total approved capacity to more than 1.6 gigawatts.

Shares of Galaxy on the Nasdaq (GLXY) fell by about 15% in trading on Tuesday, to $22.48 at the time of publication.

Other crypto-related companies reported revenue rise in Q4 2025

SoFi Technologies, a fintech company that lets users buy and sell cryptocurrencies, released its earnings report on Friday, recording fourth-quarter revenue of $1 billion.

Tokenization company Securitize Holdings reported that its revenues were up by more than 840% through September 2025 amid its initial public offering plans.