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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Galaxy Digital
Galaxy Digital (GLXY) investor relations material
Galaxy Digital Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary27 Oct, 2026
Executive summary
Q3 net income was $322.8M, adjusted gross profit $569M and Adjusted EBITDA $454.7M, supported by investment gains and Helios I leasing revenue.
Strategy spans digital-asset markets and AI/HPC infrastructure; 800+ employees across three continents and $11B in assets on platform at Sept. 30, 2026.
Helios anchors the data-center platform, with 1,630 MW of approved power and 3,600+ MW of potential campus capacity.
Financial highlights
Q3 revenue was $8.057B, down 72% YoY; the decline primarily reflected lower digital-asset sales, partly offset by matching transaction costs of $8.016B.
Q3 net income was $322.8M versus $505.1M a year earlier and a $85M loss in Q2; 9M net income was $21.1M versus $240.3M in 2025.
Q3 gains from operations were $551.7M; investment gains were $386.5M. Digital-asset impairment was $102.3M in Q3 and $568M in 9M.
Firm-wide operating expenses were $161M versus $147M in Q2, excluding transaction costs, digital-asset impairments and pass-through data-center operator costs.
Operating businesses generated ~$150M adjusted gross profit and $60M adjusted EBITDA, versus $86M and ~$1M in Q2.
Outlook and guidance
CoreWeave leased 526 MW of critical IT capacity across three phases; projected average annual revenue exceeds $1B at 90%+ lease-level adjusted EBITDA margins over the 15-year base term.
Phase II data hall deliveries are scheduled to begin in Q2 2027; Phase III delivery is expected in 2028. Construction is progressing on schedule and within budget.
Helios has over 1.6 GW of ERCOT-approved gross power, with 830 MW available to contract; the broader potential power pipeline exceeds 5.7 GW, including 426 MW contracted.
Phases I and II are funded through construction; Phase III equity funding is available, with project-level debt financing intended. Significant Phase II construction spending is anticipated in H1 2027.
GalaxyOne plans expanded multi-asset brokerage and wealth products from Q1 2027; rollout is expected during 2027.
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Latest events from Galaxy Digital
- Q2 2026 net loss of $85M, Helios Phase I delivered, new data center sites, and $3.5B financing.GLXY
Q2 2026 - Data center leaders are pivoting from mining to AI and HPC, leveraging energy and rapid deployment.GLXYH.C. Wainwright 27th Annual Global Investment Conference
- Recurring infrastructure revenues and Helios expansion drive growth amid regulatory shifts.GLXYPiper Sandler Global Exchange and Fintech Conference
- All proposals were approved, and no shareholder questions were raised during the meeting.GLXYAGM 2026
- Up to 265 million shares are registered for resale as the company targets digital asset and AI infrastructure growth.GLXYRegistration filing
- Q1 2026 net loss narrowed to $216M as Data Centers launched revenue and Helios capacity doubled.GLXYQ1 2026
- Annual meeting to vote on directors, auditor, executive pay, and governance, with strong oversight.GLXYProxy filing
- Annual meeting to vote on directors, auditor ratification, and executive pay proposals.GLXYProxy filing
- Major Texas data center expansion, strong liquidity, and buybacks signal confidence and growth.GLXYInvestor update
Next Galaxy Digital earnings date
Q4 20263 Feb, 2027
Galaxy Digital
Next Galaxy Digital earnings date
Q4 20263 Feb, 2027
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Frequently asked questions
Galaxy Digital Holdings Ltd. provides digital asset, cryptocurrency, and blockchain technology services. The company offers investment products, such as bitcoin non-deliverable forwards and bitcoin deliverable futures contracts traded on Cboe Futures Exchange and CME Group exchanges. It also provides advisory services comprising portfolio management, custody, and brokerage; providing tokenized digital assets to institutional clients such as hedge funds, family offices, and market makers; lending capital for margin on collateralized digital assets portfolios; capital for tangible assets such as mining hardware; OTC clearing counterparty for cryptocurrency spot markets; institutional brokerage services; execution of large block orders in OTC markets; initial coin offerings (ICOs) advisory service; ad-hoc ICO investment opportunities; pre-ICO investments in blockchain projects and pre-sales of tokenized assets. Galaxy Digital Holdings Ltd. is headquartered in Toronto, Canada.