Why Did Galaxy Report An $85 Million Loss? Galaxy Digital reported an $85 million net loss for the second quarter of 2026 as falling cryptocurrency prices reduced the value of its digital asset and investment holdings. Adjusted EBITDA improved to a loss of $77 million from a loss of $188 million in the first quarter. A stronger market could improve treasury valuations and activity across Galaxy’s digital asset operations, while another downturn could offset infrastructure gains. Its digital asset holdings generated an accounting loss, while its crypto operating businesses improved and Helios began producing cash flow.