Galaxy Digital
GLXY · Nasdaq (dual-listed on TSX)FinancialMediumUnited States
BTC held
6,894
as of Jun 30, 2026 · 0.033% of 21M
Value now
$526M
at BTC $76,243
Basic mNAV
17.26×
mkt cap $9.1B as of Aug 28, 2026
Sats per share
1,761
391M shares as of Jun 30, 2026
Cost basis
- Average cost per BTC
- $88,753
- Total invested
- $2.3B
- Unrealized gain
- $-86M (-14.1%)
Treasury debt
- Exchangeable senior notes issued Dec 9, 2021 by Galaxy Digital Holdings LP; general corporate purposes, not BTC-purchase-specific. · 3.00%$500M · due 2026-12
- Exchangeable senior notes issued Nov 25, 2024; general corporate purposes. · 2.50%$403M · due 2029-12-01
- Exchangeable senior notes issued Oct 31, 2025; proceeds for core-business growth and general purposes, potentially including repayment of the 2026 notes. Separately, $3.5B senior secured (non-convertible) notes due 2031 were issued Jul 28, 2026 via Galaxy Helios Data Centers II LLC for AI data-center buildout. · 0.50%$1.3B · due 2031
Recent activity
Scope note: Galaxy's balance sheet carried 25,723 total BTC at year-end 2025 (The Block/CoinGecko), but most of it is actively managed trading inventory; we track the ~6,894 BTC treasury figure (bitcointreasuries.net). Galaxy's BTC is actively managed corporate/trading inventory rather than a static treasury: balance-sheet BTC grew from 17,102 (Jun 30, 2025) to 25,723 by Dec 31, 2025, with no discrete 2026 purchase announcements. Q2 2026 net digital asset and investment exposure was ~$1.16B, down 15% QoQ, as the firm pivots capital toward its Helios AI data-center business.
Risk notes
Not a pure bitcoin treasury play — BTC count varies widely by measurement (bitcointreasuries.net shows 6,894 'treasury' BTC as of Aug 11, 2025 vs 25,723 total balance-sheet BTC on The Block/CoinGecko), and holdings/cost figures are tracker-derived rather than company-stated. Rising leverage ($3.26B notes payable at Jun 30, 2026 plus $3.5B Helios secured notes in July 2026), a Q2 2026 GAAP net loss of $85M, and the $500M 3.00% exchangeable notes maturing Dec 2026 are the near-term watch items.
Sources
- https://www.coingecko.com/en/treasuries/companies/galaxy-digital-holdings-ltd
- https://www.theblock.co/treasuries/glxy
- https://www.prnewswire.com/news-releases/galaxy-announces-second-quarter-2026-financial-results-302843529.html
- https://cryptobriefing.com/galaxy-digital-holdings-q2-update/
- https://stockanalysis.com/stocks/GLXY/
- https://bitcointreasuries.net/public-companies/galaxy-digital-holdings
- https://www.davispolk.com/experience/galaxy-13-billion-exchangeable-senior-notes-offering
Figures are compiled from public disclosures and may lag. This page is information, not investment advice or a recommendation regarding GLXY securities.