Galaxy Digital Has Strong Momentum Across All Business Lines: Canaccord

Galaxy Digital Has Strong Momentum Across All Business Lines: Canaccord


Galaxy’s net income rose 40% from the previous quarter to $422 million. The approval of spot bitcoin ETFs was a catalyst for the increase in counterparty engagement. The firm could pursue both mining and AI hosting over time, Canaccord said.

Galaxy Digital (GLXY) is evolving its business in a thoughtful and methodical way and, while the regulatory backdrop remains challenging, the company’s opportunity set and competitive positioning remains compelling, broker Canaccord Genuity said in a report on Tuesday after the crypto financial services firm published first-quarter results.

The Toronto-based company founded by CEO Mike Novogratz said net income rose 40% from the

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