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Galaxy Digital

GLXY·NASDAQ·USD

17.18+1.50 (+9.57%)
Regular-session close·Definitions
Price history2025-05-16 — 2026-10-23Valid trading days: 362 · Through 2026-10-23 · All expected trading dates since listing are present · History update delayed
Operating history2024-03-31 — 2026-06-303 historical metrics · 10 workpaper periods
Coverage limitations

Daily history updates are delayed. Available history through 2026-10-23 remains visible; a current quote does not establish that daily history has been updated.

Requests to the historical-data source are rate limited, delaying daily-price updates. Existing verified periods are retained; trading days not yet retrieved are not fabricated.

The first price observation reaches the verified listing date. This does not mean that security continuity, every trading day and adjusted prices have all been verified throughout the history.

The first price reaches the verified listing date 2025-05-16. Trading-date coverage and price verification are shown separately below.

Trading dates checked for 2025-05-16 — 2026-10-23: all 362 expected dates are present. Complete dates do not establish independent verification of every price.

Security basis: The current security identity and recorded historical continuity have been checked. Listing-date coverage is shown separately. Historical closes use the provider's split adjustments and exclude dividend distributions. Full-history adjustment factors have not been independently recalculated. Price changes do not represent total returns including dividends.

Original verification records

verified-listing-start-covered

History update reason: source-rate-limited-until 2026-10-28T04:39:08.620Z

US Nasdaq Class A shares after reorganization. Do not splice TSX CAD or OTC predecessor prices.

View sources and versions ↗
Financial drivers from public filings · single quarter

Compare growth, earnings, cash flow and capital investment for aligned reporting periods to examine company-wide financial drivers. Calculation inputs and original filings remain available.

Coverage and applicability

2024-06-30 — 2026-06-30 · Valid observations: 23. These observations analyze public financial data; they are not a standalone sector research report, score or price target. Company-wide figures do not replace segment, product or contract disclosures.

  • Days sales outstanding (average balance): Applicable definitions of trade receivables, inventory and purchase costs have not been established for this business. A manufacturing cash-conversion cycle is therefore not applied.
  • Days inventory outstanding (average balance): Applicable definitions of trade receivables, inventory and purchase costs have not been established for this business. A manufacturing cash-conversion cycle is therefore not applied.
  • Days payable outstanding (average balance): Applicable definitions of trade receivables, inventory and purchase costs have not been established for this business. A manufacturing cash-conversion cycle is therefore not applied.
  • Cash conversion cycle (average balances): Applicable definitions of trade receivables, inventory and purchase costs have not been established for this business. A manufacturing cash-conversion cycle is therefore not applied.
  • (CFO − cash purchases of PP&E) / revenue: Earnings and cash attribution differ in real-estate and financial businesses. Generic CFO−PP&E and cash-to-net-income ratios are not substitutes for AFFO, regulatory capital or distributable cash.
  • Operating cash flow / net income: Earnings and cash attribution differ in real-estate and financial businesses. Generic CFO−PP&E and cash-to-net-income ratios are not substitutes for AFFO, regulatory capital or distributable cash.
  • (Net income − operating cash flow) / revenue: Earnings and cash attribution differ in real-estate and financial businesses. Generic CFO−PP&E and cash-to-net-income ratios are not substitutes for AFFO, regulatory capital or distributable cash.
  • Cash purchases of PP&E / revenue: Financial deployment of funds differs from industrial capital purchases; an applicable business definition has not been established.
  • Cash purchases of productive assets / revenue: Financial deployment of funds differs from industrial capital purchases; an applicable business definition has not been established.

Price and operations

Research history
Reproducible calculations from public filings, without inferring segment-level results.

Period end is the end of the operating period. Source-publication mode uses the publication date of the document selected, without asserting that it was the first disclosure. Expand the notes below the chart for definitions and sources.

Add metrics 3
Available metrics: 3

Financials and cash flow

Last value in range
GLXY Share priceTrading day
USD102030405014.68
Revenue growth YoYQuarterly observations
%-40-200-1
Net marginQuarterly observations
%-6-4-20-1
Operating cash flow / revenueQuarterly observations
%-15-10-50525.10.2326.01.0126.04.0126.07.0126.10.234.3

Time rangeGLXY Share price

2025-10-23 — 2026-10-23
Methodology and controls

Each panel has its own value axis; dates and the cursor are synchronized. Operating data appear only on their observed dates; other dates are left blank. US daily prices are checked against the verified 1997–2027 trading calendar. A missing expected trading day breaks the line; weekends and recorded exchange holidays do not. Operating data are positioned at the actual period end, which is not necessarily the date of public disclosure. Drag within the chart to zoom and move the range window below to pan. Quarterly values are not filled across other trading days.

Underlying data Operating metrics: 3
Observations in this chart, including unverified periods or dates · original values and source versions retained
Selected operating metrics; records with values and current chart gaps appear first. Unverified dates are excluded from charts.
Reporting period endRevenue growth YoY% · Calculated from disclosuresNet margin% · Calculated from disclosuresOperating cash flow / revenue% · Calculated from disclosures
2026-06-302026-06-30-1.20%
Basis · Calculated from disclosures

Source version date: 2026-08-10

View calculation inputs · 6 items
Currency
USD
Revenue
8,557,336,000
priorYearRevenue
8,661,555,000
priorStart
2025-04-01
priorEnd
2025-06-30
Input source document
0
role
current
Original XBRL field
us-gaap:Revenues
Original unit
USD
Period start
2026-04-01
Period end
2026-06-30
value
8,557,336,000
Filing date
2026-08-10
form
10-Q
accn
0001859392-26-000091
Input sign
1
sourceIds
0
glxy-sec-0001859392-26-000091
1
role
prior-year
Original XBRL field
us-gaap:Revenues
Original unit
USD
Period start
2025-04-01
Period end
2025-06-30
value
8,661,555,000
Filing date
2026-08-10
form
10-Q
accn
0001859392-26-000091
Input sign
1
sourceIds
0
glxy-sec-0001859392-26-000091
GLXY · 10-Q · Filing version 2026-08-10
-1.00%
Basis · Calculated from disclosures

Source version date: 2026-08-10

View calculation inputs · 4 items
Currency
USD
Net income
-85,316,000
Revenue
8,557,336,000
Input source document
0
role
numerator
Original XBRL field
us-gaap:NetIncomeLoss
Original unit
USD
Period start
2026-04-01
Period end
2026-06-30
value
-85,316,000
Filing date
2026-08-10
form
10-Q
accn
0001859392-26-000091
Input sign
1
sourceIds
0
glxy-sec-0001859392-26-000091
1
role
denominator
Original XBRL field
us-gaap:Revenues
Original unit
USD
Period start
2026-04-01
Period end
2026-06-30
value
8,557,336,000
Filing date
2026-08-10
form
10-Q
accn
0001859392-26-000091
Input sign
1
sourceIds
0
glxy-sec-0001859392-26-000091
GLXY · 10-Q · Filing version 2026-08-10
4.35%
Basis · Calculated from disclosures

Source version date: 2026-08-10

View calculation inputs · 4 items
Currency
USD
Operating cash flow
371,994,000
Revenue
8,557,336,000
Input source document
0
role
numerator
Original XBRL field
us-gaap:NetCashProvidedByUsedInOperatingActivities
Original unit
USD
Period start
2026-01-01
Period end
2026-06-30
value
288,645,000
Filing date
2026-08-10
form
10-Q
accn
0001859392-26-000091
Input sign
1
sourceIds
0
glxy-sec-0001859392-26-000091
1
role
numerator
Original XBRL field
us-gaap:NetCashProvidedByUsedInOperatingActivities
Original unit
USD
Period start
2026-01-01
Period end
2026-03-31
value
-83,349,000
Filing date
2026-05-08
form
10-Q
accn
0001859392-26-000054
Input sign
-1
sourceIds
0
glxy-sec-0001859392-26-000054
2
role
denominator
Original XBRL field
us-gaap:Revenues
Original unit
USD
Period start
2026-04-01
Period end
2026-06-30
value
8,557,336,000
Filing date
2026-08-10
form
10-Q
accn
0001859392-26-000091
Input sign
1
sourceIds
0
glxy-sec-0001859392-26-000091
GLXY · 10-Q · Filing version 2026-08-10GLXY · 10-Q · Filing version 2026-05-08
2026-03-312026-03-31-22.62%
Basis · Calculated from disclosures

Source version date: 2026-05-08

View calculation inputs · 6 items
Currency
USD
Revenue
10,041,444,000
priorYearRevenue
12,976,206,000
priorStart
2025-01-01
priorEnd
2025-03-31
Input source document
0
role
current
Original XBRL field
us-gaap:Revenues
Original unit
USD
Period start
2026-01-01
Period end
2026-03-31
value
10,041,444,000
Filing date
2026-05-08
form
10-Q
accn
0001859392-26-000054
Input sign
1
sourceIds
0
glxy-sec-0001859392-26-000054
1
role
prior-year
Original XBRL field
us-gaap:Revenues
Original unit
USD
Period start
2025-01-01
Period end
2025-03-31
value
12,976,206,000
Filing date
2026-05-08
form
10-Q
accn
0001859392-26-000054
Input sign
1
sourceIds
0
glxy-sec-0001859392-26-000054
GLXY · 10-Q · Filing version 2026-05-08
-2.15%
Basis · Calculated from disclosures

Source version date: 2026-05-08

View calculation inputs · 4 items
Currency
USD
Net income
-216,311,000
Revenue
10,041,444,000
Input source document
0
role
numerator
Original XBRL field
us-gaap:NetIncomeLoss
Original unit
USD
Period start
2026-01-01
Period end
2026-03-31
value
-216,311,000
Filing date
2026-05-08
form
10-Q
accn
0001859392-26-000054
Input sign
1
sourceIds
0
glxy-sec-0001859392-26-000054
1
role
denominator
Original XBRL field
us-gaap:Revenues
Original unit
USD
Period start
2026-01-01
Period end
2026-03-31
value
10,041,444,000
Filing date
2026-05-08
form
10-Q
accn
0001859392-26-000054
Input sign
1
sourceIds
0
glxy-sec-0001859392-26-000054
GLXY · 10-Q · Filing version 2026-05-08
-0.83%
Basis · Calculated from disclosures

Source version date: 2026-05-08

View calculation inputs · 4 items
Currency
USD
Operating cash flow
-83,349,000
Revenue
10,041,444,000
Input source document
0
role
numerator
Original XBRL field
us-gaap:NetCashProvidedByUsedInOperatingActivities
Original unit
USD
Period start
2026-01-01
Period end
2026-03-31
value
-83,349,000
Filing date
2026-05-08
form
10-Q
accn
0001859392-26-000054
Input sign
1
sourceIds
0
glxy-sec-0001859392-26-000054
1
role
denominator
Original XBRL field
us-gaap:Revenues
Original unit
USD
Period start
2026-01-01
Period end
2026-03-31
value
10,041,444,000
Filing date
2026-05-08
form
10-Q
accn
0001859392-26-000054
Input sign
1
sourceIds
0
glxy-sec-0001859392-26-000054
GLXY · 10-Q · Filing version 2026-05-08
2025-12-312025-12-31-34.42%
Basis · Calculated from disclosures

Source version date: 2026-02-26

View calculation inputs · 6 items
Currency
USD
Revenue
10,367,096,000
priorYearRevenue
15,807,753,000
priorStart
2024-10-01
priorEnd
2024-12-31
Input source document
0
role
current
Original XBRL field
us-gaap:Revenues
Original unit
USD
Period start
2025-01-01
Period end
2025-12-31
value
60,406,728,000
Filing date
2026-02-26
form
10-K
accn
0001859392-26-000016
Input sign
1
sourceIds
0
glxy-sec-0001859392-26-000016
1
role
current
Original XBRL field
us-gaap:Revenues
Original unit
USD
Period start
2025-01-01
Period end
2025-09-30
value
50,039,632,000
Filing date
2025-11-10
form
10-Q
accn
0001859392-25-000082
Input sign
-1
sourceIds
0
glxy-sec-0001859392-25-000082
2
role
prior-year
Original XBRL field
us-gaap:Revenues
Original unit
USD
Period start
2024-01-01
Period end
2024-12-31
value
42,596,673,000
Filing date
2026-02-26
form
10-K
accn
0001859392-26-000016
Input sign
1
sourceIds
0
glxy-sec-0001859392-26-000016
3
role
prior-year
Original XBRL field
us-gaap:Revenues
Original unit
USD
Period start
2024-01-01
Period end
2024-09-30
value
26,788,920,000
Filing date
2025-11-10
form
10-Q
accn
0001859392-25-000082
Input sign
-1
sourceIds
0
glxy-sec-0001859392-25-000082
GLXY · 10-K · Filing version 2026-02-26GLXY · 10-Q · Filing version 2025-11-10
-4.65%
Basis · Calculated from disclosures

Source version date: 2026-02-26

View calculation inputs · 4 items
Currency
USD
Net income
-481,665,000
Revenue
10,367,096,000
Input source document
0
role
numerator
Original XBRL field
us-gaap:NetIncomeLoss
Original unit
USD
Period start
2025-01-01
Period end
2025-12-31
value
-241,349,000
Filing date
2026-02-26
form
10-K
accn
0001859392-26-000016
Input sign
1
sourceIds
0
glxy-sec-0001859392-26-000016
1
role
numerator
Original XBRL field
us-gaap:NetIncomeLoss
Original unit
USD
Period start
2025-01-01
Period end
2025-09-30
value
240,316,000
Filing date
2025-11-10
form
10-Q
accn
0001859392-25-000082
Input sign
-1
sourceIds
0
glxy-sec-0001859392-25-000082
2
role
denominator
Original XBRL field
us-gaap:Revenues
Original unit
USD
Period start
2025-01-01
Period end
2025-12-31
value
60,406,728,000
Filing date
2026-02-26
form
10-K
accn
0001859392-26-000016
Input sign
1
sourceIds
0
glxy-sec-0001859392-26-000016
3
role
denominator
Original XBRL field
us-gaap:Revenues
Original unit
USD
Period start
2025-01-01
Period end
2025-09-30
value
50,039,632,000
Filing date
2025-11-10
form
10-Q
accn
0001859392-25-000082
Input sign
-1
sourceIds
0
glxy-sec-0001859392-25-000082
GLXY · 10-K · Filing version 2026-02-26GLXY · 10-Q · Filing version 2025-11-10
-10.36%
Basis · Calculated from disclosures

Source version date: 2026-02-26

View calculation inputs · 4 items
Currency
USD
Operating cash flow
-1,073,584,000
Revenue
10,367,096,000
Input source document
0
role
numerator
Original XBRL field
us-gaap:NetCashProvidedByUsedInOperatingActivities
Original unit
USD
Period start
2025-01-01
Period end
2025-12-31
value
-316,636,000
Filing date
2026-02-26
form
10-K
accn
0001859392-26-000016
Input sign
1
sourceIds
0
glxy-sec-0001859392-26-000016
1
role
numerator
Original XBRL field
us-gaap:NetCashProvidedByUsedInOperatingActivities
Original unit
USD
Period start
2025-01-01
Period end
2025-09-30
value
756,948,000
Filing date
2025-11-10
form
10-Q
accn
0001859392-25-000082
Input sign
-1
sourceIds
0
glxy-sec-0001859392-25-000082
2
role
denominator
Original XBRL field
us-gaap:Revenues
Original unit
USD
Period start
2025-01-01
Period end
2025-12-31
value
60,406,728,000
Filing date
2026-02-26
form
10-K
accn
0001859392-26-000016
Input sign
1
sourceIds
0
glxy-sec-0001859392-26-000016
3
role
denominator
Original XBRL field
us-gaap:Revenues
Original unit
USD
Period start
2025-01-01
Period end
2025-09-30
value
50,039,632,000
Filing date
2025-11-10
form
10-Q
accn
0001859392-25-000082
Input sign
-1
sourceIds
0
glxy-sec-0001859392-25-000082
GLXY · 10-K · Filing version 2026-02-26GLXY · 10-Q · Filing version 2025-11-10
Calculations and sources 3 items
Revenue growth YoY% · Calculated from disclosures
Calculation basis

(Current-period revenue / comparable prior-year revenue − 1) × 100

Reading guide

Requires the same concept and currency for equal-length periods one year apart, with positive prior-year revenue. A 53-week versus 52-week year may still differ by one week; no daily adjustment is made. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Data classification

Calculated from disclosures · %

Net margin% · Calculated from disclosures
Calculation basis

Selected net-income concept / revenue × 100

Reading guide

May reflect differences in non-controlling interests, taxes and one-time gains or losses. The specific net-income concept is retained for each observation. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Data classification

Calculated from disclosures · %

Operating cash flow / revenue% · Calculated from disclosures
Calculation basis

Operating cash flow / revenue × 100

Reading guide

Shows operating cash inflows and outflows, including working capital and taxes. It is neither a contract collection rate nor cash available for shareholder distribution. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Data classification

Calculated from disclosures · %

Research context · GLXY

Helios project returns must pass through debt and ownership claims

View operating trends ↗

How much cash from forecast rent and NOI can reach common shareholders after interest, amortization, maturity refinancing and cash restrictions?

Complete inputs for a common period are unavailable. Verified facts and outstanding evidence are shown separately; no combined conclusion is drawn.

What to check in the next disclosure

Updates follow actual announcements; no earnings date is assumed.
Insufficient comparable data to construct counter-evidence.

Do cash rents validate the ramp-up forecast?

Next check

When actual delivery and cash rent are disclosed, compare cash measures for the same year.

Conditions that would change the assessment

If delivery is delayed or cash rent falls below the corresponding model year, recalculate NOI and debt coverage. Straight-line revenue cannot replace collections.

Can cash after debt service reach common shareholders?

Next check

Review restricted cash, debt reserves, the 2031 maturity, LP interests and the per-share equity claim.

Conditions that would change the assessment

Positive modeled cash after debt service is not distributable common-equity cash until upstreaming restrictions and ownership claims are resolved.

Mechanisms, counterarguments and evidence limits
  1. Delivery and rent

    Phased delivery determines lease commencement. Cash rent, straight-line lease revenue and average revenue over the lease term must be distinguished.

    Quantitative series unavailable
  2. Project debt service

    NOI must first cover coupon interest, scheduled principal amortization and reserves. Maturity principal requires separate analysis; annual coverage does not establish that refinancing is secured.

    Quantitative series unavailable
  3. Common-equity ownership

    Project value still requires debt deductions and checks on distribution restrictions, LP interests and other ownership claims. Total project NOI cannot be allocated directly to listed common shares.

    Quantitative series unavailable

Strongest alternative explanation

Signed leases and project finance can reduce some construction uncertainty. Rent escalators and principal repayment may improve later equity cash flow. A thin initial cash buffer alone does not disprove value over the project’s full life.

Missing evidenceStandalone Phase 3 costs, some project cash upstreaming amounts and the complete per-share equity reconciliation remain unresolved. The current project curves cannot directly support a common-share price target.

Company forecasts and research scenarios are identified separately. Cash after debt service is not the amount permitted for distribution under covenants and excludes some taxes and owner capital contributions. Quarter-over-quarter and year-over-year comparisons check fiscal-quarter labels and actual date intervals. Historical positions use at least 8 and at most 12 consecutive comparable quarters, ranked from low to high. Working-capital contribution ratios are not compared when CFO is non-positive. This is neither a peer ranking nor a valuation percentile.

Business and research scope

How the business turns into revenue and cash, and what the available evidence can establish.

Company website ↗

Galaxy operates across digital assets and data centers: it provides trading, asset management and blockchain infrastructure, while developing computing infrastructure for artificial intelligence.

Digital-asset operations

Trading, asset management and blockchain infrastructure are assessed separately from data-center projects.

Methodology limitationsGross trading revenue is not an appropriate comparable valuation denominator for the Helios project.

Helios data center

Construction, delivery, lease commencement and debt service in each phase determine the timing and ownership of cash flows.

Methodology limitationsIT capacity, campus power and cash distributable to common shareholders are distinct measures.

Company profile and filings
Legal name
Galaxy Digital Inc.
Exchange / quote currency
NASDAQ / USD
Reporting currency
USD
Source industry classification
Investment Bankers/Brokers/Service
Financial period end / Source version used
2026-06-30 / 2026-08-10
Value-chain roles (not revenue shares)
Data-center real estate and compute hosting
Check SEC filings index ↗

Related companies in the value chain

Shared value-chain roles do not establish direct peer status or valuation comparability.
MARKET DATA

Quote details

Candlesticks, volume and cross-company prices

17.18 +9.57%
2026-07-23 — 2026-10-23Price change over the selected period -39.64%
Provider split-adjusted prices excluding dividends, USD. Recorded trading days are equally spaced from 2026-07-23 to 2026-10-23 (66 trading days). Volume is shown separately in shares.USD10.015.020.025.030.014.68Volume · shares2026-07-23 Volume 4,335,900 shares2026-07-24 Volume 4,595,000 shares2026-07-27 Volume 4,695,000 shares2026-07-28 Volume 6,969,900 shares2026-07-29 Volume 8,031,700 shares2026-07-30 Volume 8,212,700 shares2026-07-31 Volume 5,319,600 shares2026-08-03 Volume 5,189,400 shares2026-08-04 Volume 7,067,300 shares2026-08-05 Volume 16,148,700 shares2026-08-06 Volume 8,628,400 shares2026-08-07 Volume 6,404,300 shares2026-08-10 Volume 5,231,100 shares2026-08-11 Volume 7,419,900 shares2026-08-12 Volume 6,059,100 shares2026-08-13 Volume 6,230,300 shares2026-08-14 Volume 5,286,000 shares2026-08-17 Volume 5,746,200 shares2026-08-18 Volume 6,216,600 shares2026-08-19 Volume 8,522,900 shares2026-08-20 Volume 6,644,300 shares2026-08-21 Volume 8,046,900 shares2026-08-24 Volume 4,737,500 shares2026-08-25 Volume 8,071,900 shares2026-08-26 Volume 4,514,000 shares2026-08-27 Volume 7,215,500 shares2026-08-28 Volume 4,818,800 shares2026-08-31 Volume 5,759,100 shares2026-09-01 Volume 4,671,100 shares2026-09-02 Volume 2,488,500 shares2026-09-03 Volume 8,513,300 shares2026-09-04 Volume 3,652,000 shares2026-09-08 Volume 4,377,300 shares2026-09-09 Volume 5,794,200 shares2026-09-10 Volume 4,192,000 shares2026-09-11 Volume 3,742,300 shares2026-09-14 Volume 3,269,100 shares2026-09-15 Volume 6,905,000 shares2026-09-16 Volume 5,152,600 shares2026-09-17 Volume 3,994,400 shares2026-09-18 Volume 7,268,300 shares2026-09-21 Volume 6,919,600 shares2026-09-22 Volume 6,166,100 shares2026-09-23 Volume 4,909,100 shares2026-09-24 Volume 3,591,700 shares2026-09-25 Volume 4,006,400 shares2026-09-28 Volume 3,826,700 shares2026-09-29 Volume 3,765,000 shares2026-09-30 Volume 4,608,600 shares2026-10-01 Volume 5,841,000 shares2026-10-02 Volume 4,993,000 shares2026-10-05 Volume 4,433,000 shares2026-10-06 Volume 3,923,000 shares2026-10-07 Volume 5,571,000 shares2026-10-08 Volume 7,894,100 shares2026-10-09 Volume 3,853,400 shares2026-10-12 Volume 2,593,000 shares2026-10-13 Volume 5,861,100 shares2026-10-14 Volume 9,418,800 shares2026-10-15 Volume 12,898,400 shares2026-10-16 Volume 8,825,200 shares2026-10-19 Volume 7,015,400 shares2026-10-20 Volume 10,511,200 shares2026-10-21 Volume 10,522,900 shares2026-10-22 Volume 7,880,800 shares2026-10-23 Volume 5,661,200 shares16.1M007-2308-1409-0910-0110-23
Daily · Provider split-adjusted prices, excluding dividends · USD · Valid closes: 362 / trading dates: 362Market data source
MARKET & FUNDAMENTALS

Quote and valuation methodology

Data timestamps

Trading overview

Previous close
15.68
Session open
16.65
Session range
15.83 – 17.25
Session volume
10.29 M
20 Average daily volume
6.49 M
Historical range
14.57 – 45.92

Valuation and cash

Market cap · USD
6.88 B
Price / sales · TTM
Not applicable
Free cash flow yield
Not applicable

Financial denominator

Revenue · TTM
57.37 B USD
Period end
2026-06-30
Source version
2026-08-10

Quote 2026-10-27Market cap retrieved 2026-10-28Financial period end 2026-06-30

Gross digital-asset trading revenue, brokerage flows and client funds are not directly comparable denominators for common-equity P/S, EV/revenue or free-cash-flow yields. Segment net revenue and the attribution of cash to shareholders must be examined.

Research and further reading

Explore the evidence and reasoning behind these operating questions in public articles and full reports.

Research hub ↗

Financial comparison

Select two specific periods to compare changes in scale, earnings and cash.

Quarter · As of 2026-06-30Source version used 2026-08-10 · Original currency USD
USD · Quarter
Current period 2026-04-01 — 2026-06-30Comparison period 2026-01-01 — 2026-03-31
Financial comparison of two defined periods; expand values for source records
Line itemCurrent periodComparison periodAmount changeGrowth
RevenueRecognized revenue; growth is calculated only when the comparison-period base is positive
8.56 B

Raw value 8,557,336,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

10.04 B

Raw value 10,041,444,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

-1.48 B-14.78%
Net incomeNet margin -1.00% · Change +1.16 percentage points
-85.32 M

Raw value -85,316,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

-216.31 M

Raw value -216,311,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

+131.00 M—
Operating cash flowOperating cash flow / revenue 4.35% · Change +5.18 percentage points
371.99 MDerived by subtraction

Raw value 371,994,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2026-01-01 — 2026-06-30 · 288.65 M USD · Source version 2026-08-10
  • Subtract: 2026-01-01 — 2026-03-31 · -83.35 M USD · Source version 2026-05-08
-83.35 M

Raw value -83,349,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

+455.34 M—
Capital expenditureCapital expenditure / revenue 4.66% · Change +1.30 percentage points
398.79 MDerived by subtraction

Raw value 398,790,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2026-01-01 — 2026-06-30 · 736.67 M USD · Source version 2026-08-10
  • Subtract: 2026-01-01 — 2026-03-31 · 337.88 M USD · Source version 2026-05-08
337.88 M

Raw value 337,884,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

+60.91 M+18.03%
Comparable values unavailable for the two selected periods · Gross profit、Operating income
  • Gross profit:Reported value unavailable; Reported value unavailable.
  • Operating income:Reported value unavailable; Reported value unavailable.
Check filing sources ↗

The change is the current value minus the comparison value; it is not automatically classified as year-over-year or quarter-over-quarter. Select a value to inspect reporting dates, filing versions and reconstruction inputs.

Historical trends and full financials
Comparable-period financial trends
Last value in range
USD million-10k010k20k30k2024.032024.072025.012025.072026.012026.069k-85

Time rangeRevenue

2024-03-31 — 2026-06-30
Methodology and controls

Series with the same unit and frequency share a value axis. Each column compares observations with matching period boundaries and units. Records that fail those checks remain blank. Comparable series unavailable: Operating income. Drag within the chart to zoom and move the range window below to pan. Quarterly values are not filled across other trading days.

Scroll to see all periods; select a value to open its source →

Quarterly financials, USD. Records without verified periods or units are excluded from comparison columns.
Reporting period end · USD2024-03-312024-06-302024-09-302024-12-312025-03-312025-06-302025-09-302025-12-312026-03-312026-06-30
Revenue
0.00 M

Raw value 0.00 USD

2024-01-01 — 2024-03-31 · USD · Reported data

8.88 B

Raw value 8,882,891,000.00 USD

2024-04-01 — 2024-06-30 · USD · Reported data

8.57 B

Raw value 8,570,657,000.00 USD

2024-07-01 — 2024-09-30 · USD · Reported data

15.81 BDerived by subtraction

Raw value 15,807,753,000.00 USD

2024-10-01 — 2024-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2024-01-01 — 2024-12-31 · 42.60 B USD · Source version 2026-02-26
  • Subtract: 2024-01-01 — 2024-09-30 · 26.79 B USD · Source version 2025-11-10
12.98 B

Raw value 12,976,206,000.00 USD

2025-01-01 — 2025-03-31 · USD · Reported data

8.66 B

Raw value 8,661,555,000.00 USD

2025-04-01 — 2025-06-30 · USD · Reported data

28.40 B

Raw value 28,401,871,000.00 USD

2025-07-01 — 2025-09-30 · USD · Reported data

10.37 BDerived by subtraction

Raw value 10,367,096,000.00 USD

2025-10-01 — 2025-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2025-01-01 — 2025-12-31 · 60.41 B USD · Source version 2026-02-26
  • Subtract: 2025-01-01 — 2025-09-30 · 50.04 B USD · Source version 2025-11-10
10.04 B

Raw value 10,041,444,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

8.56 B

Raw value 8,557,336,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

Gross profit——————————
Operating income——————————
Net income
-0.00 M

Raw value -1,000.00 USD

2024-01-01 — 2024-03-31 · USD · Reported data

-125.60 M

Raw value -125,596,000.00 USD

2024-04-01 — 2024-06-30 · USD · Reported data

-33.33 M

Raw value -33,330,000.00 USD

2024-07-01 — 2024-09-30 · USD · Reported data

117.52 MDerived by subtraction

Raw value 117,521,000.00 USD

2024-10-01 — 2024-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2024-01-01 — 2024-12-31 · 346.72 M USD · Source version 2026-02-26
  • Subtract: 2024-01-01 — 2024-09-30 · 229.20 M USD · Source version 2025-11-10
-295.43 M

Raw value -295,432,000.00 USD

2025-01-01 — 2025-03-31 · USD · Reported data

30.69 M

Raw value 30,691,000.00 USD

2025-04-01 — 2025-06-30 · USD · Reported data

505.06 M

Raw value 505,057,000.00 USD

2025-07-01 — 2025-09-30 · USD · Reported data

-481.67 MDerived by subtraction

Raw value -481,665,000.00 USD

2025-10-01 — 2025-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2025-01-01 — 2025-12-31 · -241.35 M USD · Source version 2026-02-26
  • Subtract: 2025-01-01 — 2025-09-30 · 240.32 M USD · Source version 2025-11-10
-216.31 M

Raw value -216,311,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

-85.32 M

Raw value -85,316,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

Operating cash flow
-0.00 M

Raw value -1,000.00 USD

2024-01-01 — 2024-03-31 · USD · Reported data

221.27 MDerived by subtraction

Raw value 221,271,000.00 USD

2024-04-01 — 2024-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2024-01-01 — 2024-06-30 · 221.27 M USD · Source version 2025-08-05
  • Subtract: 2024-01-01 — 2024-03-31 · -0.00 M USD · Source version 2025-05-13
-48.54 MDerived by subtraction

Raw value -48,535,000.00 USD

2024-07-01 — 2024-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2024-01-01 — 2024-09-30 · 172.74 M USD · Source version 2025-11-10
  • Subtract: 2024-01-01 — 2024-06-30 · 221.27 M USD · Source version 2025-08-05
-377.81 MDerived by subtraction

Raw value -377,814,000.00 USD

2024-10-01 — 2024-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2024-01-01 — 2024-12-31 · -205.08 M USD · Source version 2026-02-26
  • Subtract: 2024-01-01 — 2024-09-30 · 172.74 M USD · Source version 2025-11-10
159.41 M

Raw value 159,413,000.00 USD

2025-01-01 — 2025-03-31 · USD · Reported data

169.88 MDerived by subtraction

Raw value 169,876,000.00 USD

2025-04-01 — 2025-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2025-01-01 — 2025-06-30 · 329.29 M USD · Source version 2026-08-10
  • Subtract: 2025-01-01 — 2025-03-31 · 159.41 M USD · Source version 2026-05-08
427.66 MDerived by subtraction

Raw value 427,659,000.00 USD

2025-07-01 — 2025-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2025-01-01 — 2025-09-30 · 756.95 M USD · Source version 2025-11-10
  • Subtract: 2025-01-01 — 2025-06-30 · 329.29 M USD · Source version 2026-08-10
-1.07 BDerived by subtraction

Raw value -1,073,584,000.00 USD

2025-10-01 — 2025-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2025-01-01 — 2025-12-31 · -316.64 M USD · Source version 2026-02-26
  • Subtract: 2025-01-01 — 2025-09-30 · 756.95 M USD · Source version 2025-11-10
-83.35 M

Raw value -83,349,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

371.99 MDerived by subtraction

Raw value 371,994,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2026-01-01 — 2026-06-30 · 288.65 M USD · Source version 2026-08-10
  • Subtract: 2026-01-01 — 2026-03-31 · -83.35 M USD · Source version 2026-05-08
Capital expenditure——
3.38 MDerived by subtraction

Raw value 3,382,000.00 USD

2024-07-01 — 2024-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2024-01-01 — 2024-09-30 · 33.12 M USD · Source version 2025-11-10
  • Subtract: 2024-01-01 — 2024-06-30 · 29.74 M USD · Source version 2025-08-05
25.91 MDerived by subtraction

Raw value 25,907,000.00 USD

2024-10-01 — 2024-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2024-01-01 — 2024-12-31 · 59.03 M USD · Source version 2026-02-26
  • Subtract: 2024-01-01 — 2024-09-30 · 33.12 M USD · Source version 2025-11-10
91.64 M

Raw value 91,642,000.00 USD

2025-01-01 — 2025-03-31 · USD · Reported data

304.82 MDerived by subtraction

Raw value 304,817,000.00 USD

2025-04-01 — 2025-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2025-01-01 — 2025-06-30 · 396.46 M USD · Source version 2026-08-10
  • Subtract: 2025-01-01 — 2025-03-31 · 91.64 M USD · Source version 2026-05-08
238.05 MDerived by subtraction

Raw value 238,050,000.00 USD

2025-07-01 — 2025-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2025-01-01 — 2025-09-30 · 634.51 M USD · Source version 2025-11-10
  • Subtract: 2025-01-01 — 2025-06-30 · 396.46 M USD · Source version 2026-08-10
558.03 MDerived by subtraction

Raw value 558,025,000.00 USD

2025-10-01 — 2025-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2025-01-01 — 2025-12-31 · 1.19 B USD · Source version 2026-02-26
  • Subtract: 2025-01-01 — 2025-09-30 · 634.51 M USD · Source version 2025-11-10
337.88 M

Raw value 337,884,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

398.79 MDerived by subtraction

Raw value 398,790,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2026-01-01 — 2026-06-30 · 736.67 M USD · Source version 2026-08-10
  • Subtract: 2026-01-01 — 2026-03-31 · 337.88 M USD · Source version 2026-05-08
Comparison rules and gaps

Comparison columns require aligned period boundaries, currency and duration. Blank values are not zero; directly reported quarters and cumulative reconstructions are distinguished. A non-positive comparison base is shown as an amount change without a percentage growth rate.

View filing source

Events and disclosure records

Completed events, conditional arrangements and the document versions used are listed separately.

Check original source ↗
Disclosed events

CoreWeave · Offtake and leasing

CoreWeave leases Helios Phases I–III: 800 MW of gross campus power and 526 MW of critical IT capacity. The base term is 15 years, with two additional five-year extension options. Phase I, comprising 133 MW of critical IT capacity, was fully delivered in Q2 2026. The company forecasts average annual revenue above USD 1.2 billion over the lease term for all 526 MW. This is neither recognized revenue nor total contract value. [1]

Disclosed events

City of McGregor, Texas · Capital and financing

Development agreement executed with the city of McGregor, Texas to acquire 500 acres in the McGregor Industrial Park for the new Merlin AI/HPC data center campus · consideration not disclosed [6]

Disclosed events

Morgan Stanley · Capital and financing

Helios I Phase II construction financing · $3.507bn senior secured notes issued by Galaxy Helios Data Centers II LLC · 9.875% coupon · due Aug 1, 2031 · Morgan Stanley & Co. LLC as representative of the several initial purchasers · proceeds fund two buildings with eight data halls (400MW utility capacity) in Dickens County, TX plus debt service reserves · uncapped completion guarantee from Galaxy Digital Holdings LP [5]

Disclosed events

Deutsche Bank AG, New York Branch · Capital and financing

Helios Phase I project financing · $1.4bn senior secured term loan to borrower Galaxy Helios I LLC · Deutsche Bank AG, New York Branch as initial lender · GLAS USA LLC as administrative and collateral agent · matures Aug 15, 2028 · max 80% loan-to-cost at closing, min 1.40x DSCR post-Stabilization · completion guarantee from Galaxy Digital Holdings LP [4]

Included financial source versions
  1. 10-Q Original financial filings ↗

    This page cites periods ending through 2026-06-30. The same document includes multiple comparison periods.

  2. 10-Q Original financial filings ↗

    This page cites periods ending through 2026-03-31. The same document includes multiple comparison periods.

  3. 10-K Original financial filings ↗

    This page cites periods ending through 2025-12-31. The same document includes multiple comparison periods.

  4. 10-Q Original financial filings ↗

    This page cites periods ending through 2025-09-30. The same document includes multiple comparison periods.

  5. 10-Q Original financial filings ↗

    This page cites periods ending through 2024-06-30.

  6. 10-Q Original financial filings ↗

    This page cites periods ending through 2024-03-31.

Industry relationships and operating mechanisms

Trace supply and demand through contract performance, operating metrics and cash attribution.

Direct relationships: 6 · Excluded by current filters: 0

Upstream supply

1 companies
2026-041 record

GLXY

Galaxy Digital Inc.

Operating metrics: 3 ↗

Downstream demand

1 companies
↗
2026-08-051 record

Capital sources

3 companies
↗
2026Q21 record
2025-08-151 record
2026-07-281 record

Capital deployed

1 companies
2026-08-051 record

Goods and services are arranged from supplier to customer; capital is shown separately. Select a relationship to inspect its evidence and operating mechanism. Second-degree paths do not establish guarantees or certain revenue.

Downstream demand · Lease contract

GLXY CRWV

Signed / existingA · Original filing

What this relationship establishes

CoreWeave leases Helios Phases I–III

Relationship type
Lease contract

Recorded as signed or existing; performance progress requires separate verification

Amount basis
Company-estimated average annual revenue
  • The company forecasts average annual revenue above USD 1.2 billion over the lease term for all 526 MW

This is a future average, not recognized revenue or the total contract value. It cannot establish rent for each period, a single valuation amount or current cash.

Attribution
Applies to this relationship; the original document determines the specific legal entities and attribution.
Capacity
800 MWGross campus power526 MWCritical IT capacity across Phases I–III133 MWDelivered Phase I critical IT capacity

Capacity definitions are retained separately for each record and cannot be added together as recognizable revenue.

Concentration
A relationship amount and company denominator with matching periods and definitions are not provided

Relationship counts, capacity and total contract value are not measures of revenue or procurement concentration.

Complete record and source location

CoreWeave leases Helios Phases I–III: 800 MW of gross campus power and 526 MW of critical IT capacity. The base term is 15 years, with two additional five-year extension options. Phase I, comprising 133 MW of critical IT capacity, was fully delivered in Q2 2026. The company forecasts average annual revenue above USD 1.2 billion over the lease term for all 526 MW. This is neither recognized revenue nor total contract value.

A · Original filing

GLXY 8-K 2026-08-05(glxy-20260630xpressrelease.htm)

2026 Q2 earnings release, pp. 3–5; Helios table footnote 2

Customer demand and execution

The excerpts below come from this record. Verify signed status separately from actual completion.

  • 800 MW of gross campus power / 526 MW of critical IT capacity
  • Phase I, comprising 133 MW of critical IT capacity, was fully delivered in Q2 2026
  • The company forecasts average annual revenue above USD 1.2 billion over the lease term for all 526 MW
Limitations in the original record
  • 15-year base lease term, with two additional five-year extension options
  • This is neither recognized revenue nor total contract value
What to monitor for this record

Contract-compliant capacity must be delivered before the lease commences. Commissioning, revenue recognition and cash collection are three distinct milestones.

Track data-hall delivery by phase, cash rent received, tenant performance and financing. The relationship between NVIDIA and CoreWeave does not establish an NVIDIA guarantee of this lease.

Inputs still needed to quantify the impact
  • A period-by-period schedule of contractual cash receipts, cash payments and revenue recognition
  • Performance, termination and substitute-capacity provisions
  • Attribution to equity after construction, maintenance, taxes, fees and financing

The amount associated with a relationship cannot substitute for the company's revenue, earnings or stock-price impact. Applies to this relationship; the original document determines the specific legal entities and attribution.

How to test the operating mechanism

Analytical framework, not a realized impact

  1. Contract terms

    CRWV purchases products or services from GLXY under an offtake arrangement; first distinguish leases, cloud services and other offtake arrangements.

  2. Contract execution

    Track delivery, lease commencement or service activation, cancellation conditions and renewal options for each tranche.

  3. Financial outcomes

    Present the nominal contract amount, revenue recognized during the period, cash receipts and spending to fulfill the contract separately.

  4. Testing price implications

    Verify the effective contract term, capital investment and financing attribution before estimating cash attributable to shareholders.

Verify construction delivery, lease commencement, straight-line revenue and cash rent separately. Allow for project interest and scheduled principal repayments before assessing cash available to the parent. Review company guidance separately from conditional scenarios.

Other records for the same counterparty

Review procurement, customer and capital relationships separately. The same cooperation may appear in multiple records; the amounts are not automatically additive.

Relationship typeStatus / dateEvidence source
Signed / existingA · Original filing

Operating data to test the relationship

GLXY · Company-specific metric definitions and classifications

Metrics test operating processes; an overall change cannot be attributed to a single relationship. Expand the definitions to check calculation methods and their applicable boundaries.

Profit and costs

Can revenue growth translate into earnings attributable to shareholders?

Preserve the distinctions relating to depreciation, stock-based compensation, adjustments and segments. The company's margin cannot be applied as this contract's margin.
Operating metricLatest valueDefinition and boundaries
Net margin ↗2026-06-30 · Research calculation-0.997%
Definition and boundaries

Selected net-income concept / revenue × 100

May reflect differences in non-controlling interests, taxes and one-time gains or losses. The specific net-income concept is retained for each observation. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Operating cash flow / revenue ↗2026-06-30 · Research calculation4.35%
Definition and boundaries

Operating cash flow / revenue × 100

Shows operating cash inflows and outflows, including working capital and taxes. It is neither a contract collection rate nor cash available for shareholder distribution. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Show remaining company metrics (1)
Other operating observations

What verifiable information does this metric provide about this relationship?

Use the metric's definition and original inputs. Quantitative attribution to this relationship has not been established.
Operating metricLatest valueDefinition and boundaries
Revenue growth YoY ↗2026-06-30 · Research calculation-1.2%
Definition and boundaries

(Current-period revenue / comparable prior-year revenue − 1) × 100

Requires the same concept and currency for equal-length periods one year apart, with positive prior-year revenue. A 53-week versus 52-week year may still differ by one week; no daily adjustment is made. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.

Related companies in the value chain 14 companies · Data-center real estate and compute hosting

Related browsing is based on overlapping segments in the current graph. It does not establish direct peers, valuation comparability, or a supply, customer or investment relationship.

Search all operating metrics and calculation methods

Operating metric search

Test relationship hypotheses against actual operating series, with their definitions, periods and calculation methods.

Historical research methodology
3 / 3 items
Operating metricLatest valuePeriod / classificationDefinition and interpretation boundariesAnalysis
Revenue growth YoY-1.2%2026-06-30Research calculation(Current-period revenue / comparable prior-year revenue − 1) × 100Requires the same concept and currency for equal-length periods one year apart, with positive prior-year revenue. A 53-week versus 52-week year may still differ by one week; no daily adjustment is made. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.View full series ↗
Net margin-0.997%2026-06-30Research calculationSelected net-income concept / revenue × 100May reflect differences in non-controlling interests, taxes and one-time gains or losses. The specific net-income concept is retained for each observation. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.View full series ↗
Operating cash flow / revenue4.35%2026-06-30Research calculationOperating cash flow / revenue × 100Shows operating cash inflows and outflows, including working capital and taxes. It is neither a contract collection rate nor cash available for shareholder distribution. Uses explicit period boundaries, the reported currency and the selected SEC concept. Cumulative reconstructions retain signed inputs. The filing-version date is not a verified first-disclosure date. Missing values are neither replaced with zero nor interpolated into daily observations.View full series ↗
Source grades, dates and quantitative definitions

A = original SEC or exchange filings; B = company announcements, IR materials, official websites or established media; C = industry-structure inferences or third-party accounts without an independent primary source

Key relationships were reviewed using public information available through 2026-10-23. Historical relationships have not all been individually reverified. Their original dates are retained; delisted entities remain in the relationship archive but are excluded from market-cap weights. Review coverage through 2026-10-23.

Signed status does not mean that the full amount has been paid or that capacity has been delivered. Assess contract value, period revenue, investment, loans, prepayments and guarantee caps separately; do not sum them as a single exposure. Distinguish total power capacity from critical IT load. Company-level metrics cannot be attributed directly to an individual relationship.

Source facts and operating implications are distinguished, with forecasts and conditional scenarios identified as such. Missing relationships mean that this graph has no record of them. Data version 60aad2cdea0eff4f82e9dafe344d1e57aa2b950269b621d7e5bddfef10520644.

EVIDENCE & SOURCES

Data and calculation basis

Sources and filing versions
Quotes and valuation

2026-10-27, 16:00 ET · Regular-session close. History through 2026-10-23 uses provider split-adjusted prices, excluding dividends. Full-history adjustment factors have not been independently recalculated. MA20 is the arithmetic mean of 20 recorded trading-day closes and does not bridge missing prices or known corporate actions. Price comparisons exclude dividend reinvestment and do not represent total returns. Market cap retrieved on 2026-10-28. Prices refresh daily. Source timestamps and website update times are shown separately.

The current security identity and recorded historical continuity have been checked. Listing-date coverage is shown separately.

Original verification notes

verified-listing-start-covered

US Nasdaq Class A shares after reorganization. Do not splice TSX CAD or OTC predecessor prices.

Financial statements

Reporting period 2026-06-30; filed 2026-08-10. Financials use the company's reporting periods and currency; unavailable values appear as —. Expand the section below each chart to inspect metric definitions, inputs and original sources.

Business evidence

Based on value-chain records; original operating disclosures are still needed.

Citations: 6 · Documents: 6

1GLXY 8-K 2026-08-05(glxy-20260630xpressrelease.htm)Value-chain archive

GLXY 8-K 2026-08-05(glxy-20260630xpressrelease.htm) · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
2GLXY Q2 2026 Form 10-Q, lease noteValue-chain archive

GLXY Q2 2026 Form 10-Q, lease note · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
3GLXY Form 8-K, August 5, 2026 earnings releaseValue-chain archive

GLXY Form 8-K, August 5, 2026 earnings release · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
4Galaxy Digital Form 8-K (August 15, 2025), Item 1.01, credit agreementValue-chain archive

Galaxy Digital Form 8-K (August 15, 2025), Item 1.01, credit agreement · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

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5Galaxy Digital Form 8-K (July 28, 2026), senior secured note issuanceValue-chain archive

Galaxy Digital Form 8-K (July 28, 2026), senior secured note issuance · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
6Galaxy Digital Form 8-K, Exhibit 99.1 · Q2 2026 earnings release (August 5, 2026)Value-chain archive

Galaxy Digital Form 8-K, Exhibit 99.1 · Q2 2026 earnings release (August 5, 2026) · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

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Missing evidence
  • Primary-source coverage of the company’s standalone business analysis and falsification criteria is incomplete.
  • Company-specific operating KPIs are not yet available; financial ratios do not substitute for evidence about products, orders or capacity.
Unresolved business questions
Which products, customers and revenue categories can be independently verified from primary materials?
Existing relationship records do not represent the entire business; company-level primary evidence for segments, products, customer concentration and key operations remains incomplete.
Relationships
Company announcements, framework intentions and signed agreements are distinguished. Contract amounts do not represent payments already made. Records without sources are flagged separately.
Version
60aad2cdea0eff4f82e9dafe344d1e57aa2b950269b621d7e5bddfef10520644

ResearchSource document

Sources: 6
01GLXY · 10-Q · Filing version 2025-05-13

The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.

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02GLXY · 10-Q · Filing version 2025-08-05

The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.

View original disclosure
03GLXY · 10-Q · Filing version 2025-11-10

The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.

View original disclosure
04GLXY · 10-K · Filing version 2026-02-26

The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.

View original disclosure
05GLXY · 10-Q · Filing version 2026-05-08

The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.

View original disclosure
06GLXY · 10-Q · Filing version 2026-08-10

The filing version used. Each observation lists its concept, original-currency amount, period and input signs. This does not establish the first public disclosure date.

View original disclosure