Hyperliquid Rally Offsets Galaxy Digital's $216M Q1 Loss Amid Bitcoin Slump

Galaxy Digital reported a Q1 2026 net loss of $216 million (-$0.49/share), beating analyst expectations of -$0.93/share but wider than last year's -$295 million, as a 20% crypto market slide hammered its $431 million Bitcoin treasury. Total assets fell 12% quarter-on-quarter to $9.99 billion, with digital assets gross profit at $49 million; a 56% year-to-date Hyperliquid token rally provided some cushion. Shares held steady post-earnings, up 12% YTD, while management eyes data-center diversification for growth amid volatile crypto conditions.