Galaxy Digital Narrows Losses Amid Market Volatility

Galaxy Digital posted a significant net loss in the first quarter of $216 million, but managed to narrow losses compared to last year. The decline in crypto prices had a significant impact on the company's balance sheet, with total assets falling to approximately $9.99 billion.

The firm is shifting its focus towards artificial intelligence infrastructure as a new revenue driver. This strategic shift includes the delivery of its first data hall at the Helios facility in Texas to CoreWeave, which marks the beginning of long-term leasing tied to AI workloads.