Galaxy Digital narrowed its first-quarter loss and is leaning into data-center revenue as crypto-market weakness pressures trading results. Key points - Q1 loss: $216 million, or $0.49 per share (better than analysts’ $0.59 estimate) - Revenue: $10.2 billion vs. $12.9 billion a year earlier - First data hall delivered at Helios campus (Texas) to CoreWeave, beginning long‑term lease revenue tied to AI workloads - Helios capacity: 133 MW online by end of Q2; approval received for an additional 830 MW, taking total site potential above 1.6 GW - GLXY shares were down 0.84% at $24.84, slipping for a second day What happened Galaxy Digital said a combination of a changing business mix and tighter cost controls helped offset the impact of weaker cryptocurrency prices. The firm reported a smaller-than-expected net loss in Q1 and pointed to more resilient adjusted gross profit as recurring fee revenue and transaction income scale up. Growth pivot: data centers and AI compute A major development this quarter was the delivery of Galaxy’s first data hall at its Helios campus in Texas to CoreWeave. That handover marks the start of revenue under a long-term lease tied to AI workloads — a strategic shift toward steady, infrastructure-based income rather than purely market-driven trading revenue. The Helios facility is slated to deliver 133 megawatts of compute by the end of Q2, and with regulatory approval for another 830 MW, the site’s total capacity now tops 1.6 gigawatts — underscoring Galaxy’s ambition to capture demand for GPU-heavy AI compute. Operational discipline Galaxy highlighted disciplined expense management, saying that cost controls helped narrow its adjusted EBITDA loss and improve operating efficiency in a softer market. Management framed the results as evidence that recurring fees and transaction services are making the company more resilient to crypto-price volatility. Market reaction Despite the better-than-expected loss and progress on Helios, Galaxy’s shares slipped for a second day, trading down about 0.84% at $24.84 at the latest check. Why it matters For crypto investors, Galaxy’s pivot toward long-term infrastructure deals and AI-focused data centers represents a strategic attempt to diversify revenue and reduce exposure to volatile crypto trading. The Helios campus — if fully realized — could position Galaxy as a major supplier of large-scale GPU compute capacity as demand for AI workloads grows. Read more AI-generated news on: undefined/news