Galaxy Digital, Terawulf lean on data center business to cut losses in Q2 earnings
Galaxy Digital (NASDAQ: GLXY) and TeraWulf (NASDAQ: WULF), two pure play Bitcoin miners to have made the AI pivot, saw contrasting fortunes as both firms turned in their respective scorecards for the second quarter of 2026 on August 5.
Both firms’ relatively nascent AI data center businesses did a lot of the heavy lifting in the Q2 results, which were released before markets opened Wednesday. TeraWulf’s profits set it up for a pre-market run while Galaxy’s loss set off a slide that has grown to almost 7%.
How did markets react to Galaxy’s Q2 earnings report?
Investors were not impressed as Galaxy Digital (NASDAQ: GLXY) closed the quarter ending June 30, $85 million in the red, disregarding the fact that it made big strides in cutting down on the $216 million loss it reported in Q1. Diluted and adjusted earnings came in at negative $0.09 per share.
Galaxy shares traded at $20.99 pre-market per Google Finance, down about 6.55% around the time of this report.
Galaxy pointed to the underperformance of the digital assets in its portfolio as the reason its second-quarter results were not so hot.
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