Galaxy Digital swings to $323M Q3 profit and adds a $200M buyback

Galaxy Digital spent the second quarter of 2026 in the red. Three months later, it is posting a $323 million net income for the third quarter. The prior quarter’s figure was an $85 million loss. That is a sharp reversal for one quarter, and the board is marking it with another $200 million share repurchase authorization. What drove the turnaround Most of the swing came from investment gains in Galaxy’s Treasury & Corporate segment. When the assets a company holds on its own balance sheet rise in value, those gains flow straight to the bottom line. The more durable story sits in the data center business. That segment reported $69 million in adjusted EBITDA for the quarter, up from $11 million in the prior quarter. At the company level, adjusted EBITDA came in at $455 million for Q3 2026. The balance sheet also grew quickly. Total assets climbed 51% quarter-over-quarter to $16.4 billion, while total equity stood at $3.0 billion. The buyback and the billions behind Helios Galaxy’s board approved an additional $200 million for share repurchases. This follows the completion of a previous $200 million program. Under that earlier program, Galaxy has bought back approximately 9.8 milli...