Galaxy Digital Surges as Bitcoin Rally and Business Updates Boost Sentiment
Galaxy Digital Inc.'s stock price surged 6.3% on August 20th, coinciding with Bitcoin's sharp rally to $72,684, an increase of approximately 4.8%. This uptick in digital-asset prices has positively impacted sentiment among investors and crypto-linked stocks.
The company's recent business updates likely contributed to the price movement. Galaxy announced that its Helios campus delivered the first 133 megawatts of critical IT load to CoreWeave, transitioning the project from construction to an operational revenue-generating business.
Galaxy reported $20 million in adjusted gross profit and $11 million in adjusted EBITDA from data centers during the second quarter. Digital assets also saw a 34% increase in adjusted gross profit compared to the previous quarter, reaching $66 million.