Galaxy Digital Holdings Ltd. is a digital asset and blockchain pioneer founded by Michael Novogratz in 2018. It is a technology-driven financial services and investment management firm that provides institutions, startups, and qualified individuals with a full suite of financial solutions spanning the digital assets ecosystem. On May 13, 2025, the company completed a corporate reorganization to become a Delaware-incorporated entity and began trading on the Nasdaq stock exchange under the ticker GLXY.^[7]​

Galaxy is a full-service, digital assets financial firm led by former Fortress Investment Group hedge fund manager and early cryptocurrency investor, Mike Novogratz.^[3]​^[5]​

Background

Galaxy Digital was founded in January 2018 and was originally incorporated in the Cayman Islands. It was built with the idea of bringing institutions into the blockchain revolution. In May 2025, the company reorganized as a U.S. company domiciled in Delaware to facilitate its listing on the Nasdaq.^[7] The Company is headquartered in New York City, with offices in Chicago, San Francisco, London, Amsterdam, Tokyo, Hong Kong, the Cayman Islands, and Abu Dhabi.​​^[4]​

In 2018, Galaxy Digital raised about $250 million in a private placement. According to Bloomberg News, an unidentified source said Terry Gou, the billionaire CEO of Foxconn, was one of the investors in the private placement.^[2]​ On August 3, 2018, the company went public via a reverse takeover on Canada's TSX Venture Exchange.

Overview

Galaxy Digital is a financial services and investment management company that engages in the digital asset, cryptocurrency, and blockchain technology sectors. The firm operates across three primary business segments: Digital Assets, Data Centers, and Technology Products.^[8]​

As of late 2025, the company has strategically expanded its Data Center operations to service the artificial intelligence (AI) and high-performance computing (HPC) industries, in addition to its foundational business in Bitcoin mining.^[7] Galaxy has also launched proprietary technology platforms, including GalaxyOne for individual investors and GK8 for institutional self-custody.^[8] The company's mission is to accelerate progress in Digital Assets and AI Infrastructure.

As of December 31, 2025, Galaxy Digital had $12 billion in Assets on Platform.^[7]​

Business Segments

Galaxy's operations are structured into three main divisions.^[8]:

Digital Assets

This division encompasses several business units that provide institutional-grade access to digital asset markets and infrastructure.

• Global Markets: This unit provides trading, lending, derivatives, prime brokerage, and investment banking advisory services. In Q4 2025, the unit's average loan book size was $1.8 billion, and it served over 1,600 institutional trading counterparties.^[7]
• Asset Management & Infrastructure Solutions: This unit offers a range of investment strategies, including ETFs, venture capital funds (Galaxy Ventures and Galaxy Interactive), and actively and passively managed funds. It also provides infrastructure services like staking and tokenization. In 2025, Galaxy acquired Alluvial Finance, a staking software firm, to become the development company for the enterprise-grade liquid staking protocol, Liquid Collective.^[7]

Data Centers

This segment focuses on developing and operating large-scale digital infrastructure for Bitcoin mining and the AI sector. Its key asset is the Helios Data Center Campus in Dickens County, Texas. Following a power capacity expansion approved in January 2026, the Helios campus has over 1.6 gigawatts (GW) of total approved power. A significant part of this capacity is dedicated to a long-term agreement with AI computing company CoreWeave, which is expected to generate over $1 billion in average annual revenue once fully operational.^[7]​

Technology Products

This division develops proprietary platforms for different client types.

• GalaxyOne: A financial technology platform aimed at individual investors that provides a unified application for managing and trading cash, crypto, stocks, and ETFs.^[8]
• GK8 by Galaxy: An enterprise-grade, MPC-based self-custody platform that allows financial institutions to manage digital assets securely. Galaxy acquired the GK8 technology in a 2023 deal.

Corporate and Financial Highlights

2025 Financial Results

For the full year ending December 31, 2025, Galaxy reported a net loss of 160 million in one-time costs related to its corporate reorganization and data center development. However, the company saw record performance in its Global Markets division and significant organic growth in Asset Management, with $2.0 billion in net inflows.

Key year-end 2025 metrics include:^[7]​

• Total Equity: $3.0 billion (a 38% increase year-over-year)
• Total Assets: $11.3 billion (a 59% increase year-over-year)
• Cash and Stablecoins: $2.6 billion (a 168% increase year-over-year)
• Assets Under Management (AUM): $6.4 billion
• Assets Under Stake (AUS): $5.0 billion

Strategic Developments

• Nasdaq Listing: On May 13, 2025, Galaxy completed its domestication to a Delaware entity and began trading on the Nasdaq Global Select Market under the ticker "GLXY".^[7]
• AI Infrastructure Pivot: Throughout 2025, Galaxy executed long-term data center agreements totaling 800 MW with AI computing company CoreWeave, marking a strategic pivot for its Helios campus.^[7]
• Middle East Expansion: In December 2025, Galaxy received regulatory approval to operate as a broker-dealer and custodian for virtual assets in the Abu Dhabi Global Market (ADGM), expanding its presence in the Middle East.^[8]
• Helios Power Expansion: In January 2026, the company secured approval to add 830 MW of power at its Helios facility, doubling its total approved capacity to over 1.6 GW to support both Bitcoin mining and AI workloads.^[7]

Team

The Galaxy leadership team includes seasoned individuals from both finance and technology.^[6]​

• Michael Novogratz - Founder and CEO
• Damien Vanderwilt - Co-President and Head of Global Markets
• Christopher Ferraro - Co-President and Chief Investment Officer
• Erin Brown - Chief Operating Officer