Galaxy Digital Slumps as TeraWulf Rides High-Performance Computing Leases
Galaxy Digital and TeraWulf posted mixed quarterly results for Q2 2026. While both companies made significant strides in their nascent AI data center businesses, Galaxy's financials lagged behind expectations.
Galaxy Digital reported a net loss of $85 million, despite cutting down on its previous quarter's loss of $216 million. The company cited underperformance from digital assets in its portfolio as the main reason for its disappointing results. However, the Data Centers segment showed improvement, with adjusted gross profit increasing by $3 million to $20 million.
TeraWulf, on the other hand, reported a revenue of $44.8 million, with high-performance computing leases making up 71% of that figure at $31.9 million. The company also announced another $3 billion in cash and restricted cash.