Galaxy Digital stock sinks 5% after shocking earnings

Galaxy Digital (Nasdaq: GLXY), a global crypto-focused financial services firm, reported financial results for the second quarter of 2025 on Aug. 5.

The company generated a revenue of $8.66 million in Q2, down 2.5% year-over-year (YoY).

Its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at $211 million, owing to a rise in virtual assets and other investments on its balance sheet.

Galaxy also increased its Bitcoin holdings to 17,102 coins, worth $1.94 billion at the time of writing, adding 4,272 BTC during Q2. It also held $325 million in Ethereum, $180 million in SOL, and $45.8 million in XRP, among other crypto assets on its balance sheet.

The company held crypto assets worth $3.56 billion in carrying value.

However, Galaxy's earnings per share (EPS) during the quarter missed estimates, coming in at $0.08 as compared to the estimated $0.10.

Founded by Mike Novogratz, the crypto-focused company went public on May 16.

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Since its public debut, the GLXY stock has risen more than 16% in value. However, it fell more than 5% in a day to trade at $27.36 following the earnings miss.

Most leading crypto stocks also reflected a dip in their value on the day.

MicroStrategy (Nasdaq: MSTR), the world's leading Bitcoin treasury company, also fell 3.82% to $374.36.

Coinbase Global (Nasdaq: COIN), the largest U.S. crypto exchange, dipped nearly 5.49% to $300.69.

Robinhood Markets (Nasdaq: HOOD), the trading exchange offering cryptocurrencies and tokenized stocks, fell 2.14% to $104.10.

Circle (NYSE: CRCL), the stablecoin company, also fell 4.50% to $157.40.

HIVE Digital (Nasdaq: HIVE), the Bitcoin mining firm, fell 0.73% to $2.06.