Galaxy Announces Third Quarter 2025 Financial Results (Form 8-K)

Galaxy Announces Third Quarter 2025 Financial Results

NEW YORK, October 21, 2025 - Galaxy Digital Inc. (Nasdaq/TSX: GLXY) (the "Company" or "GDI") today

released financial results for the three and nine months ended September 30, 2025. In this press release, a

reference to "Galaxy", "we", "our" and similar words refers to GDI, its subsidiaries and affiliates, and, prior to

the Reorganization Transactions, refers to Galaxy Digital Holdings LP (the "Partnership" or "GDH LP"), its

subsidiaries and affiliates, or any one of them, as the context requires.1

- Financial Highlights

•Net income of $505 million for Q3 2025, diluted EPS of $1.01, and adjusted EPS of $1.12.2

•Adjusted EBITDA of $629 million for Q3 2025, driven by record results in the Digital Assets operating

business and gains on digital asset and investment positions.2

•Total equity of $3.2 billion and holdings of $1.9 billion in cash and stablecoins as of September 30,

2025.3

- Corporate Updates

•Record quarterly digital asset trading volumes, up 140% versus Q2 2025, reflecting increased spot and

derivatives activity and the sale of more than 80,000 bitcoin on behalf of a client.

•Total assets on platform reached an all-time high of approximately $17 billion at quarter end.4

•Executed a lease agreement with CoreWeave for Phase II of the Helios data center development.

CoreWeave also exercised its final option to access an additional 133 MW of critical IT load for its

artificial intelligence ("AI") and high-performance computing ("HPC") operations, bringing its total

commitment to the full 800 MW of approved power capacity at Helios.

•Galaxy secured a $1.4 billion project financing facility, fully funding the $1.7 billion Phase I build at

Helios.

•On October 6, 2025, Galaxy launched GalaxyOne, a financial technology platform that provides U.S.-

based individual investors access to high-yield cash, cryptocurrencies and equities trading all through a

single, unified platform.

•On October 10, 2025, Galaxy announced a $460 million equity investment by one of the world's largest

asset managers. Net proceeds to Galaxy of $325 million will drive the build out of the Helios data

center campus and support general corporate purposes.

	SELECT FINANCIAL METRICS	Q3 2025	Q2 2025		Q/Q % Change
	Total Assets	$11,523M		$9,086M	27%
	Total Equity	$3,172M		$2,624M	21%
	Cash & Stablecoins3	$1,910M	$1,181M		62%
	Net Digital Assets and Investments5	$2,141M	$1,871M		14%
	Net Income / (Loss)	$505M	$30.7M		1,546%
	Adjusted EBITDA2	$629M	$211M		198%
	Note: Throughout this document, totals may not sum due to rounding. Percentage change calculations are based on unrounded results. N.M. is the abbreviation for "Not Meaningful". (1) On May 13, 2025, the Company, GDH Ltd. and GDH LP consummated a series of transactions resulting in the reorganization of the Company's corporate structure (the "Reorganization Transactions"). (2) Adjusted EPS and Adjusted EBITDA are non-GAAP financial measures. Refer to pages 11 and 12 for more information and a non-GAAP to GAAP reconciliation to the most directly comparable GAAP measure. (3) Includes $1,137M in Cash and Cash Equivalents, and $773M in Stablecoins as of Q3 2025 and $691M in Cash and Cash Equivalents, and $489M in Stablecoins as of Q2 2025. (4) Consists of $8.8B Assets Under Management, $6.6B Assets Under Stake and $1.7B of assets managed by a commodity pool operator within Galaxy's Global Markets division. Of this total, $2.5B is included in both Assets Under Management and Assets Under Stake, and $1.7B is included in both assets under stake and the commodity pool operator. Each asset included in these figures generates its own distinct fee stream. (5) Refer to page 5 of this release for a breakout of Galaxy's Treasury & Corporate net digital asset and investment exposure, excluding derivatives.

2 | GLXY • Q3 2025All figures are in U.S. Dollars unless otherwise noted.

3 | GLXY • Q3 2025All figures are in U.S. Dollars unless otherwise noted.

4 | GLXY • Q3 2025All figures are in U.S. Dollars unless otherwise noted.

5 | GLXY • Q3 2025All figures are in U.S. Dollars unless otherwise noted.

6 | GLXY • Q3 2025All figures are in U.S. Dollars unless otherwise noted.