Galaxy Announces $200 Million Share Repurchase Program
Rhea-AI Summary
Galaxy (Nasdaq: GLXY) announced a Board-approved $200 million share repurchase program with a 12-month term beginning Feb 6, 2026. Repurchases may be made via open-market purchases, privately negotiated transactions, or Rule 10b5-1 plans and will comply with securities laws and exchange rules.
The program limits purchases on Nasdaq to 5% of outstanding common stock at commencement, may be suspended at any time, and requires TSX approval to repurchase on the Toronto Stock Exchange.
Positive
- $200 million authorized buyback, providing a clear capital-return vehicle
- Repurchases may use Rule 10b5-1 plans, enabling structured, pre-planned purchases
- Program term of 12 months gives flexibility to deploy capital over a full year
Negative
- No obligation to repurchase; uncertainty on whether any shares will be bought
- Nasdaq purchases capped at 5% of outstanding shares at program start
- TSX repurchases depend on TSX approval, potentially limiting Canadian-market execution
Key Figures
Market Reality Check
Peers on Argus
GLXY shows a sharp -16.47% move while close peers like SF, EVR, HLI, and NMR are roughly flat to modestly positive and JEF is slightly negative, indicating stock-specific dynamics rather than a broad Capital Markets sector swing.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 03 | Earnings results | Negative | -16.9% | Reported large Q4 and full-year 2025 net losses and modest EBITDA. |
| Jan 15 | Infrastructure expansion | Positive | +13.5% | Secured ERCOT approval doubling Helios power capacity to over 1.6 GW. |
| Jan 15 | Structured product launch | Positive | +13.5% | Closed debut tokenized CLO with $75M financed and potential $200M limit. |
| Dec 23 | Venture investment | Positive | -0.1% | Participation in Architect’s $35M Series A to scale perpetual futures AX. |
| Dec 16 | Portfolio funding | Positive | -0.9% | Portfolio company Last Energy closed >$100M Series C for nuclear projects. |
Recent operational and strategic positives tended to align with strong upside reactions, while the latest earnings loss aligned with a sharp downside move. Smaller venture/portfolio updates showed limited or divergent price impact.
Over the past months, Galaxy reported a Q4 2025 net loss of $482M and a full‑year 2025 net loss of $241M, which coincided with a -16.87% move on Feb 3, 2026. In contrast, infrastructure and structured‑product milestones, including Helios’s expansion to >1.6 GW and the debut tokenized CLO that may scale to $200M, each saw +13.48% reactions. Venture-related financings around partners and portfolio companies produced muted or slightly negative moves, underscoring investor focus on core profitability and large-scale growth catalysts.
Market Pulse Summary
This announcement adds a $200 million share repurchase authorization over 12 months, providing flexibility to return capital while the stock trades below the $27.39 200-day MA and near its $16.67 52-week low. It follows sizeable 2025 net losses but a reported $2.6B cash and stablecoin position. Investors may monitor actual repurchase activity, further earnings trends, and how the program interacts with existing registered resale capacity.
Key Terms
rule 10b5-1 regulatory
normal course issuer bid financial
AI-generated analysis. Not financial advice.
"We are entering 2026 from a position of strength, with a strong balance sheet and continued investment in Galaxy's growth," said Mike Novogratz, Founder and CEO of Galaxy. "That foundation gives us the flexibility to return capital to shareholders when we believe our stock doesn't reflect the value of the business. The share repurchase program also underscores our confidence in Galaxy's long-term prospects."
Galaxy may repurchase shares of its Class A common stock from time to time through open market purchases, in privately negotiated transactions, or by other means, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), in accordance with applicable securities laws, stock exchange requirements and other restrictions. Galaxy's ability to repurchase common stock through the Toronto Stock Exchange ("TSX") will be dependent on Galaxy submitting an application and receiving TSX approval for a normal course issuer bid. Unless permitted by applicable law, purchases made through the facilities of Nasdaq will not exceed
About Galaxy
Galaxy Digital Inc. (Nasdaq/TSX: GLXY) is a global leader in digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence. Our digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. In addition, we develop and operate cutting-edge data center infrastructure to power AI and HPC workloads. Our 1.6 GW Helios campus in
Disclaimers and Additional Information
The TSX has not approved or disapproved of the information contained herein.
CAUTION ABOUT FORWARD-LOOKING STATEMENTS
The information in this press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended and "forward-looking information" under Canadian securities laws (collectively, "forward-looking statements"). Our forward-looking statements include, but are not limited to, statements regarding the repurchase program including the amount of common stock purchased and the method of such repurchases, our or our management team's expectations, hopes, beliefs, intentions or strategies regarding the future including the intended share repurchases. Statements that are not historical facts, including statements about onchain business, are forward-looking statements. In addition, any statements that refer to estimates, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on us taking into account information currently available to us. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks include, but are not limited to: (1) risks related to our blockchain infrastructure and staking business; (2) limitations of applicable securities law and stock exchange requirements; (3) changes in applicable laws or regulations; (4) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (5) changes or events that impact the cryptocurrency and AI/HPC industry, including potential regulation, that are out of our control; (6) the risk that our business will not grow in line with our expectations or continue on its current trajectory; (7) the possibility that our addressable market is smaller than we have anticipated and/or that we may not gain share of it; (8) any delay or failure to consummate the business mandates or achieve its business pipeline goals; (9) liquidity or economic conditions impacting our business; (10) technological challenges, cyber incidents or exploits; and (11) those other risks contained in filings we make with the Securities and Exchange Commission (the "SEC") from time to time, including in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2025, filed with the SEC on November 10, 2025, and our subsequentnt filings and available on Galaxy's profile at www.sec.gov/edgar. Factors that could cause actual results to differ materially from those described in such forward-looking statements include, but are not limited to, a decline in the digital asset market or general economic conditions; a delay or failure in developing infrastructure for our business or our businesses achieving our mandates; delays in integration of the acquired business;; and changes in applicable law or regulation and adverse regulatory developments. Should one or more of these risks or uncertainties materialize, they could cause our actual results to differ materially from the forward-looking statements. Except as required by law, we assume no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements. You should not take any statement regarding past trends or activities as a representation that the trends or activities will continue in the future. Accordingly, you should not put undue reliance on these statements.
©Copyright Galaxy Digital 2026. All rights reserved.
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SOURCE Galaxy Digital Inc.
FAQ
What is Galaxy's share repurchase program announced Feb 6, 2026 (GLXY)?
How much of GLXY can be repurchased on Nasdaq under the program?
Will Galaxy definitely buy back shares under the $200 million GLXY program?
Can Galaxy repurchase shares on the Toronto Stock Exchange under the GLXY plan?
How might the $200 million GLXY buyback affect shareholders and capital allocation?
