Galaxy Digital releases Q1 financial report with a net loss of $295 million, expected to land on NASDAQ on May 16th

Odaily Planet Daily News: Galaxy Digital announced that it has completed the restructuring process of relocating its legal registered address from the Cayman Islands to Delaware, USA. This migration is part of the company's preparation for its planned listing on the NASDAQ Global Market on May 16th, with the stock code expected to be GLXY. Meanwhile, Galaxy Digital released its first quarter financial report as of March 31, 2025, recording a net loss of $295 million, a significant reversal from the previous quarter's net profit. The company stated that the loss was mainly due to the decline in digital asset prices during the period and $57 million in impairment and disposal costs related to the closure of Helios data center mining business. As of the end of the quarter, the company's asset management scale decreased by 29% month on month to $7 billion. The company currently holds $1.1 billion in cash and stablecoins, as well as $1.9 billion in equity. （The Block）