Galaxy Digital reports $482M net loss in Q4 2025

The crypto company reported significant net losses to its balance sheet in 2025 due in part to “lower digital asset prices and approximately $160 million of one-time costs.“

Digital assets and AI infrastructure company Galaxy Digital reported a net loss of $241 million over 2025 and a loss of $482 million in the fourth quarter alone, citing a decline in crypto prices over the year.

In its quarterly financial statements shared Tuesday, Galaxy said its losses over Q4 2025 were “driven primarily by the depreciation of digital asset prices,” while its annual losses were due in part “to lower digital asset prices and approximately $160 million of one-time costs during the year.” The price of Bitcoin (BTC) dropped by about 20% in the fourth quarter of 2025.

“You have the crypto coins — Bitcoin, Ethereum, Solana, you name ‘em — have been in a bear market,” said Galaxy CEO Michael Novogratz in a Tuesday shareholder update call, adding:

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