Galaxy Digital, a leading figure in the cryptocurrency and digital assets sector, has announced the publication of its first 10-K annual report for 2025 as a Nasdaq-listed company. The move officially marks Galaxy’s inaugural year trading on one of the largest U.S. stock exchanges. CEO and founder Mike Novogratz described the company’s leap to Nasdaq not just as a corporate milestone but as an affirmation that the digital economy is now a tangible, mainstream force.
New investments and focus on digital infrastructure
In recent years, Galaxy Digital has expanded its business well beyond a core focus on digital assets, adding managed funds, institutional trading services, and artificial intelligence-driven high-capacity data center operations to its growing portfolio.
One of the company’s most ambitious recent investments has been the Helios AI data center campus in Texas. Supported by approvals from the Electric Reliability Council of Texas (ERCOT), the facility boasts an electrical capacity of 1.6 gigawatts. The first 800-megawatt phase has already been leased to CoreWeave, a major cloud computing provider, representing a capital investment close to $7.5 billion. With the additional permitted capacity, Helios now carries a total valuation exceeding $15 billion. Novogratz has signaled a long-term intention to diversify with massive digital infrastructure projects spanning regions and technologies around the world.
He stressed that the surge in demand for high-performance computing is not just another trend, but a structural shift set to shape the next decade.
Crypto asset management and financial growth
As of December 31, 2025, assets under management across Galaxy Digital’s digital platform had climbed to approximately $12.3 billion. The company’s services include over-the-counter spot and derivatives trading, staking across 11 blockchains, trading in various cryptocurrencies including Ethereum and Solana, ETF products, and institutional-grade custody solutions.
In October 2025, Galaxy Digital also launched a new fintech platform called GalaxyOne. This innovative offering provides FDIC-insured accounts with high yields, commission-free stock and crypto trading, and the option to automatically reinvest returns into Bitcoin. The launch marks a move into new areas aimed at attracting individual retail investors as well as institutions.
Despite sector-wide contraction in the last quarter, Galaxy Digital reported a net loss of $241 million. However, Novogratz emphasized that the company is now concentrating on opportunities with greater clarity and purpose.
Reflecting on the sector’s evolution, Novogratz commented that digital assets were once seen as a fringe area but have now become mainstream, pointing out that even the United States now holds Bitcoin on its balance sheet—a scenario that would have been unthinkable until recently.
Galaxy Digital’s journey from specialty cryptocurrency firm to a diversified technology player underscores how rapidly the financial landscape is changing. The company’s recent initiatives highlight not only confidence in the continued growth of digital assets, but also the increasing importance of infrastructure supporting artificial intelligence and high-capacity computing.
The Texas-based Helios campus represents one of the largest U.S. investments in AI data center infrastructure to date, and signals Galaxy Digital’s bid to position itself at the crossroads of finance, digital assets, and emerging technologies. Industry analysts note that the scale of such projects underscores broader shifts in energy use, corporate risk-taking, and data sovereignty concerns.
The launch of GalaxyOne is seen as a strategic step to bridge traditional finance and the decentralized digital world for both individuals and institutions. By offering FDIC-guaranteed returns and seamless crypto integration, Galaxy Digital aims to capture a growing audience seeking hybrid banking and finance solutions.
According to industry experts, the move to Nasdaq provides Galaxy Digital both increased legitimacy and new capital-raising opportunities, positioning it well for further expansion in the increasingly complex digital finance sector.
Looking ahead, Novogratz and his team remain focused on scaling their infrastructure capabilities, expanding the reach of GalaxyOne, and continuing to bring mainstream financial practices into the crypto world. Investors will be watching closely to see whether these bold bets deliver sustainable returns as competition heats up across digital infrastructure, fintech, and crypto asset management.
