Galaxy Digital reported net income of $323 million for the third quarter, against a loss of $85 million in the second quarter, with adjusted gross profit of $569 million and adjusted EBITDA of $455 million, against a $77 million adjusted EBITDA loss in the prior quarter. Diluted earnings per share were $0.66, and adjusted earnings per share $0.83. Total assets rose 51 percent in the quarter to $16.4 billion, equity stood at $3.0 billion, and cash, stablecoins and U.S. Treasuries nearly doubled to $4.9 billion. The Treasury and Corporate segment contributed $419 million of adjusted gross profit, after a $42 million loss in the second quarter.
The Data Centers segment produced $79 million of adjusted gross profit and $69 million of adjusted EBITDA in the first full quarter of revenue under the Helios I, Phase I lease, with all 133 MW of critical IT load delivered to CoreWeave. Helios I, Phase II is fully financed and under construction, with data hall deliveries scheduled to begin in the second quarter of 2027, and the company said it had completed a $3.5 billion offering of senior secured notes to fund that construction and expanded its total gross power pipeline to more than 5.7 GW. The board approved a further $200 million share repurchase authorization on October 26, after the February program, under which 9.8 million shares were repurchased, was completed on October 15.