Galaxy Stock Moves Higher: What's Happening?

What happened

Galaxy Digital Inc shares are rising Monday, a day before its third-quarter earnings report. Galaxy, which runs digital asset and data center businesses, reports results before Tuesday's open. Analysts expect earnings of 11 cents per share on $11.44 billion in revenue.

Confirmed

Global impact / market context

The report tests whether Galaxy's data center buildout and digital assets business are lifting results faster than analysts expect. Earnings above 11 cents per share would suggest crypto's recovery and the data center ramp are helping; below that would keep attention on reliance on one data center customer.

Analyst inference

Galaxy's last report, on Aug. 5, showed it leaning less on crypto prices. Even with prices sliding, digital assets adjusted gross profit rose 34% from the first quarter to $66 million. Data centers added $20 million as the CoreWeave buildout progressed, with all 133 megawatts of Phase I running by quarter-end.

Analyst inference

What to watch

1. Galaxy projects roughly $80 million in leasing revenue from Phase I each quarter, at a project-level margin above 90%. Confirmed
2. At the end of June, Galaxy held $2.7 billion in equity and $2.5 billion in cash and stablecoins. Confirmed
3. Watch whether revenue comes in above or below $11.44 billion, which would point to stronger or weaker activity across Galaxy's businesses. Analyst inference

Evidence

• Original source link unavailable