The crypto company reported significant net losses on its balance sheet in 2025, in part due to “declining digital asset prices and approximately $160 million in 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 has been in crypto for more than five years realizes that part of the philosophy of this entire industry is pain and that often when things feel worse it’s time to be very focused and potentially stockpile or at least prepare for it.
Despite net losses, Galaxy reported adjusted gross profit of $426 million for the full year 2025 and finished with $2.6 billion in cash and stablecoins. It said it ended 2025 with $12 billion in total platform assets and $2 billion in net inflows into its asset management arm.
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Galaxy announced in August that it would accelerate its plans for an artificial intelligence data center in Texas. The company said it received approval from the Electric Reliability Council of Texas for an additional 830 megawatts of electrical capacity in January, bringing the total approved capacity of its facility to more than 1.6 gigawatts.
Shares of Galaxy on Nasdaq (GLXY) fell about 15% on Tuesday, to $22.48 at press time.
Other crypto-related companies reported an increase in revenue in the fourth quarter of 2025.
SoFi Technologies, a financial technology company that allows users to buy and sell cryptocurrencies, released its earnings report on Friday, recording fourth quarter revenue of $1 billion.
Tokenization company Securize Holdings declared that his income have risen more than 840% through September 2025 as part of its IPO plans.
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