Galaxy Digital reported a net loss of $85 million in Q2, driven primarily by lower digital asset prices. The 133 MW capacity from Phase I of the data center is now fully operational under a 15-year lease with CoreWeave. The company projects approximately $80 million in quarterly lease revenue starting in Q3, with an expected adjusted EBITDA margin above 90%. The Phase II expansion adding 260 MW is financed through a $3.507 billion offering of 9.875% senior secured notes due 2031. The AI infrastructure segment generated $20 million of adjusted gross profit and $11 million of adjusted EBITDA, while Treasury and Corporate recorded a $42 million adjusted gross loss mainly from unrealized losses on digital assets and investment positions.
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