Galaxy Digital achieved impressive financial results in the second quarter of 2023. The company's net profit reached $30.7 million, with a diluted earnings per share of $0.08. The adjusted EBITDA soared to $211 million, primarily due to the rise in the value of digital assets and investments on the company's balance sheet, as well as significant improvements in the performance of its digital asset business.
As of the end of June, Galaxy Digital's total equity reached $2.62 billion, with cash and stablecoins totaling as much as $1.2 billion, demonstrating the company's strong financial strength. In the second quarter, the company completed significant restructuring work and successfully listed on the NASDAQ on May 16, marking a new phase in the company's development.
It is worth noting that the company's digital asset business achieved its best monthly performance in July, demonstrating strong growth momentum. Entering the third quarter, Galaxy Digital completed a large-scale transaction, selling over 80,000 BIT to clients.
In terms of infrastructure construction, the company is also actively expanding. The capacity of the Helios data center has been expanded to 800MW, and the company has also signed agreements to acquire adjacent land and obtain a 1GW power access request, which will increase the total potential of the data center to 3.5GW, laying a solid foundation for future business growth.
Overall, Galaxy Digital demonstrated good operating conditions and strong development momentum in the second quarter, providing strong support for the company's continued growth in the future.
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Galaxy Digital Q2 performance skyrockets with a net profit of $30.7 million, a record high.
Galaxy Digital achieved impressive financial results in the second quarter of 2023. The company's net profit reached $30.7 million, with a diluted earnings per share of $0.08. The adjusted EBITDA soared to $211 million, primarily due to the rise in the value of digital assets and investments on the company's balance sheet, as well as significant improvements in the performance of its digital asset business.
As of the end of June, Galaxy Digital's total equity reached $2.62 billion, with cash and stablecoins totaling as much as $1.2 billion, demonstrating the company's strong financial strength. In the second quarter, the company completed significant restructuring work and successfully listed on the NASDAQ on May 16, marking a new phase in the company's development.
It is worth noting that the company's digital asset business achieved its best monthly performance in July, demonstrating strong growth momentum. Entering the third quarter, Galaxy Digital completed a large-scale transaction, selling over 80,000 BIT to clients.
In terms of infrastructure construction, the company is also actively expanding. The capacity of the Helios data center has been expanded to 800MW, and the company has also signed agreements to acquire adjacent land and obtain a 1GW power access request, which will increase the total potential of the data center to 3.5GW, laying a solid foundation for future business growth.
Overall, Galaxy Digital demonstrated good operating conditions and strong development momentum in the second quarter, providing strong support for the company's continued growth in the future.