Live updates: Bitcoin holds below $80,000 as AI buildout draws investor attention and capital
Interest rates and oil are slipping and equities are rising, but crypto remains under pressure.
Mike Novogratz’s Galaxy Digital GLXY topped third-quarter earnings estimates, in part thanks to bitcoin’s gains during those three months, with treasury and corporate profit of $419 million versus a loss of $42 million the previous quarter.
The company also announced a fresh $200 million buyback authorization after having completed the previous one, with about 9.8 million shares bought back so far this year.
“The progress we're making across both businesses is strengthening and diversifying our earnings profile, while positioning Galaxy to capitalize on substantial growth opportunities,” said Novogratz in a press release .
The company said Phase II of its Helios I data center project is fully financed, under construction, and progressing on schedule. Discussions with prospective tenants regarding the additional 830 MW available at Helios II continue, with “market dynamics seen as increasingly favorable.”
Shares are higher by 4.5% pre-market, but remain lower by more than 30% over the past month.
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Only CoinDesk reports this story so far. We show it as a single source until another newsroom confirms it.
- CoinDesk27 Oct, 12:40
| Publisher CoinDesk (established tier) | +76 |
| Total | 76 |
Method: reports are grouped by the words of their headline and summary; each newsroom counts once; figures are read from the reports as published. Nothing here is written by an AI.