Believe it or not, Galaxy Digital managed to flip its fortunes in the second quarter of 2025, hauling in a net profit of $30.7 million (that’s $0.08 a share) after bleeding red ink in Q1. What changed? A big chunk of that turnaround came from unrealized gains on the crypto assets it holds, plus solid performance from its trading and lending desks.

And if you thought they’d cash out, think again. Galaxy doubled down on its Bitcoin (BTC) bet, adding a cool 4,272 BTC to its vaults in Q2. By June 30, the firm was sitting on 17,102 BTC, worth roughly $1.8 billion at current prices. It’s a bold statement that Galaxy still believes Bitcoin’s long game is unstoppable, even when markets get choppy.

Of course, Galaxy didn’t put every dollar into Bitcoin. The company also parked $1.2 billion in cash and stablecoins. That gives it plenty of dry powder for whatever 2025 throws its way. Add a solid $2.6 billion equity cushion, and the balance sheet can handle volatility and seize opportunities.

Within its Digital Assets arm, adjusted gross profit climbed 10% from Q1, hitting $71.4 million thanks to busy trading floors and growing margin loans. But don’t overlook the fine print. The adjusted EBITDA of the firm dipped slightly as it reinvested in staff and tech. It can be a direct result of higher salaries and beefed-up infrastructure to fuel future growth.

What’s next for Galaxy Digital? The firm has an investor webcast set for August 5, 2025. They’ll walk through the Q2 results and share their plan for the back half of the year. With more Bitcoin on the books, healthy cash reserves, and strong core profits, Galaxy is ready for whatever the next wave of institutional crypto demand brings.

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