Galaxy Digital Inc. (NASDAQ:GLXY) shares are trading higher on Friday as traders continue to assess the recent second-quarter revenue miss and refocus on the company’s AI data center buildout and forward leasing ramp.
Here’s what’s moving markets Friday.
- Galaxy Digital stock is surging to new heights today. What’s behind GLXY gains?
What Is Driving Galaxy Digital’s Stock Today?
The latest fundamental reset came after second-quarter revenue of about $8.56 billion missed the $11.63 billion consensus estimate by 26.4% and slipped 1.2% from $8.66 billion a year earlier, alongside an $85 million net loss and an adjusted loss per share of 9 cents (in line with estimates).
However, management highlighted accelerating AI data center expansion, including three new Texas site acquisitions (Merlin, Caspian and Selene) that lift its total power pipeline to more than 5.7 gigawatts. That scale matters because it shifts the investment thesis away from crypto-market sensitivity toward predictable, utility-like cash flows.
Data Center Expansion Hits Operational Stage Heading into Q3
The second quarter marked the data center segment’s first revenue-generating period, with all 133 megawatts of critical IT load under its Phase I lease brought online by quarter-end.
With Phase I now fully operational, Galaxy projects that contracted payments will generate roughly $80 million in quarterly leasing revenue starting in third-quarter 2026, delivering an expected project-level Adjusted EBITDA margin of over 90%.
GLXY Stock Price Movement on Friday
GLXY Stock Price Activity: Galaxy Digital shares were up 2.46% at $20.02 at the time of publication on Friday, according to Benzinga Pro data.
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