₿$70,669.81▼ 3.27%
Galaxy Digital Inc.
Galaxy Digital is a financial services and infrastructure company focused on digital assets and HPC data centers, founded by Mike Novogratz. Galaxy holds BTC as part of its treasury and principal investment portfolio, and has issued exchangeable notes to fund operations. The company also operates a $1.4B Deutsche Bank credit facility for its Helios data center business.
BTC Holdings
6,894 BTC
Insufficient history
Stock Price
$21.66
180d
Total financing
3.03B USD
180d
mNAV
19.68x
180d
Leverage
365.2%
180d
BTC Credit
888 bps0.3x
Sats/Share
1,557
180d
Mkt capFD
9.59B USD
SharesFD
442.66M
Fiat reserve
1.25B USD
Total reserve
1.73B USD
Dilution
13.8%
Coverage
16.3 yr
BTC mix
0%
Analytics
BTC Coverage
Financials
US-GAAPAnnualAs of 2025-12-31
Balance Sheet
Total Assets$11.3B▲59.4%
Total Liabilities$8.3B▲68.8%
Stockholders' Equity$2B▼10.9%
Cash & Equivalents$1.2B▲169.7%
Total Debt—
Digital Assets$4.5B▲55.1%
Income Statement
Revenue$60.4B▲41.8%
Operating Income—
Net Income$-241.3M▼169.6%
Interest Expense$59.2M▲92.3%
Cash Flow
Operating Cash Flow$-316.6M▼54.4%
Instruments
GLXY-Dec26
Dec '21 – Dec '26
Coupon
3%
Principal
500.00M USD
Outstanding
445.00M USD
Conv. price
33.34 USD
BTC Rating
6.3x
GLXY-Dec29
Nov '24 – Dec '29
Coupon
2.5%
Principal
402.50M USD
Outstanding
402.50M USD
Conv. price
23.81 USD
BTC Rating
1.0x
GLXY-May31
Oct '25 – May '31
Coupon
0.5%
Principal
1.30B USD
Outstanding
1.30B USD
Conv. price
55.76 USD
BTC Rating
0.3x
Total
2.15B USD
| Instrument | Term | Coupon | Principal | Outstanding | Conv. price | BTC Rating |
|---|---|---|---|---|---|---|
| GLXY-Dec26 | Dec '21 – Dec '26 | 3% | 500.00M USD | 445.00M USD | 33.34 USD | 6.3x |
| GLXY-Dec29 | Nov '24 – Dec '29 | 2.5% | 402.50M USD | 402.50M USD | 23.81 USD | 1.0x |
| GLXY-May31 | Oct '25 – May '31 | 0.5% | 1.30B USD | 1.30B USD | 55.76 USD | 0.3x |
| Total | 2.15B USD | |||||
Recent Changes
Tue, Feb 24, 2026
Shares Outstanding
391.1M→389.1M-2.0M(-0.5%)
Form 10-K (2025)
Wed, Dec 31, 2025
Shares Outstanding
381.2M→391.1M+9.9M(+2.6%)
Class A: 192,695,681 + Class B: 198,408,277
Form 10-K (2025)Debt OutstandingRepurchaseGLXY-Dec26
500.0M→445.0M-55.0M(-11.0%)
$55M repurchased
Form 10-K (2025)Debt OutstandingDrawGLXY-H1TL
433.5M→878.0M+444.5M(+102.5%)
Form 10-K (2025)
Fiat Reserve
1.14B→1.25B+108.8M(+9.6%)USD
Form 10-K (2025)
Thu, Oct 30, 2025
Debt OutstandingIssuanceGLXY-May31
1.30B
Includes $150M overallotment
Form 8-K (0.50% exchangeable notes due 2031)