Galaxy Digital saw its stock fall 5% on Tuesday after the company released second-quarter results that included a first-time revenue line from its Helios subsidiary. The data-center business, which the firm has been building out for months, is now expected to bring in roughly $80 million per quarter starting in the third quarter.
Helios Phase I revenue target
Helios, a wholly owned subsidiary of Galaxy Digital, generated data-center revenue for the first time during the second quarter. The company said Phase I of the Helios project is on track to produce approximately $80 million in quarterly revenue from Q3 onward. That figure gives investors a concrete benchmark to watch as the infrastructure segment matures.
Market reaction to the quarterly report
The 5% share decline suggests the broader earnings release didn't meet all expectations, even with the new revenue stream. Galaxy Digital didn't provide a detailed breakdown of the Helios contribution in Q2, but the forward guidance for Phase I appears to be the main takeaway for analysts. The stock's drop indicates that some traders may have been hoping for a larger immediate impact from the data-center operations.
Investors will now focus on the third-quarter report to see whether Helios actually delivers the $80 million quarterly run rate. The company hasn't disclosed a timeline for further phases of the project, leaving the long-term revenue trajectory uncertain. For now, the market is weighing the promise of new infrastructure income against the broader performance of Galaxy Digital's core businesses.
