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    GLXY   KYG370921069

GALAXY DIGITAL HOLDINGS LTD.

(GLXY)
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Galaxy Digital : Announces Second Quarter 2021 Financial Results

08/16/2021 | 07:01am EDT

Partners' Capital decreased 11% in the quarter amidst pronounced digital asset price declines

Counterparty trading volumes grew over 90% in the quarter

Gross counterparty loan originations grew over 130% in the quarter

Assets Under Management ("AUM")1 increased 12% in the quarter

Investing in expansion through partnerships and key leadership hires

NEW YORK, Aug. 16, 2021 /CNW/ - Galaxy Digital Holdings Ltd. (TSX: GLXY) ("Galaxy Digital" the "Company" or "GDH Ltd.") today released financial results for the three and six months ended June 30, 2021 for both itself and Galaxy Digital Holdings LP (the "Partnership" or "GDH LP").

"While the second quarter included significant volatility and macro-related headwinds to near-term results, our core operating activities including providing liquidity and execution services for clients and counterparties, and our strategic investment portfolio, delivered another quarter of rapid growth consistent with the pace of adoption of the crypto economy," said Michael Novogratz, Founder and CEO of Galaxy Digital.

"Even with the broad-based digital asset market declines within the quarter, Galaxy again demonstrated strong counterparty trading volume growth and continues to add more blue-chip partnerships across the firm, most recently with Bloomberg and Goldman Sachs," Mr. Novogratz added.

Quarter-to-date Market and Company Updates, Third Quarter 2021:

  • Since the end of the second quarter, total cryptocurrency market capitalization has increased 33%2 and institutional adoption trends have remained positive, reinforcing our long-term thesis about the value and growth potential of this asset class.
  • Total value locked in decentralized finance (or "DeFi") for the sector has increased over 30% quarter-to-date in the third quarter 20213.
  • The 2021 Fidelity Digital Assets Institutional Investor Study in July showed 71% of institutions expect to invest in digital assets in the future, and 91% of those expecting to invest believe it will be part of portfolios within the next five years.
  • The Company continues to invest to drive growth through ongoing product launches across the platform, including the Galaxy Vision Hill Venture Fund-of-Funds I, the Galaxy Interactive Strategy, and the live launch of Prime Services for select clients.
  • As of July 31, 2021, Galaxy Digital Asset Management reported preliminary AUM1 that surpassed $1.6 billion.
  • In June, the Company announced that it is serving as liquidity provider for Goldman Sachs' Bitcoin futures block trades on the CME Group, as Goldman expands its cryptocurrency offering.
  • The Company has now deployed over $52 million of strategic capital into 14 different NFT-related companies with direct investments and through Galaxy Interactive Fund strategies.
  • Key recent hires to fuel expansion include Tim Grant as Head of Europe and Jennifer Lee as Chief People Officer.

______________________________

1 

AUM is inclusive of sub-advised funds, committed capital closed-end vehicles, seed investments by affiliates, and fund of fund products associated with the Vision Hill acquisition. Changes in AUM are generally the result of performance, contributions, and withdrawals.

2 

Represents coinmarketcap.com total cryptocurrency market capitalization quoted price.

3 

Represents total value locked in DeFi according to defipulse.com.

Select Financial Highlights for the Second Quarter 2021, compared to Second Quarter 2020

  • Net comprehensive income4 decreased to a loss of $175.8 million, from a net comprehensive gain of $35.3 million in the prior year period.
    • During the quarter, our results were impacted by a 34%5 decline in overall digital asset prices and a 41% decline in the price of Bitcoin, relative to the end of the first quarter.
    • While our core digital asset holdings experienced a market-driven net loss during the quarter, these impacts were offset in part by a combination of elevated counterparty trading activity, gains in derivatives from hedging and other activities, as well as continued strong growth across our operating businesses, led by our market-neutral trading and liquidity provisioning.
    • Furthermore, gains from our Principal Investments segment increased to $214.1 million in the quarter, and contributed significantly toward offsetting the impact from broader digital asset price declines.
  • Partners' Capital increased 320% to $1.5 billion, from $356.6 million at the end of the prior year period.
    • During the quarter, Partners' Capital declined to $1.5 billion, from $1.7 billion, due to losses on our core long digital asset positions. The 11% decline in Partners' Capital compared favorably to short-term broader digital asset market declines and was offset in part by gains in our investment portfolio, which grew to $613 million from $351.6 million in the prior quarter.
    • As of June 30, 2021, the Partnership had a material net holding in Bitcoin of approximately $550 million, excluding non-controlling interests, versus $133.9 million at the end of the prior year period. The increase in the value of holdings was primarily driven by the increase in price, from the prior year end. As a reminder, we actively manage our core digital asset holdings, including our material net Bitcoin holding, to participate in the upside from favorable asset price changes, and mitigate the impacts of adverse movements.
    • During the quarter, the Partnership grew Cash holdings6 to $410.2 million from $93.2 million in the first quarter, as the firm realized gains from select investments, and as short-term market declines allowed more asset-intensive businesses to return liquidity to our core treasury.

________________________________

4 

Excluding non-controlling interests ("NCI").

5 

Represents coinmarketcap.com total cryptocurrency market capitalization quoted price.

6 

Cash holdings reflect Cash subject to trade settlement, as of June 30, 2021 in the amount of $30 million.

Operating Highlights for the Second Quarter 2021, compared to Second Quarter 2020

  • Galaxy Digital Trading ("GDT") results reflected a solid quarter, with continued growth in trading volumes and gross counterparty loan originations in a period that included significant volatility in digital asset prices.
    • Counterparty trading volumes continued to experience significant growth, increasing 90% from the quarter ended March 31, 2021, and increasing over 560% year over year.
    • Our electronic and derivatives liquidity provisioning, as well as our quantitative trading strategies, demonstrated rapid growth in-line with our counterparty-facing businesses, and delivered increased profitability in the quarter amidst volatile market conditions.
    • While the Company's counterparty loan book decreased in the quarter ending June 30, 2021 by 15% to approximately $370 million due to lower asset prices in the quarter, the Company grew gross counterparty loan originations in excess of 130% since March 31, 2021 to approximately $1,560 million. The Company also experienced zero defaults and continued to operate with an average collateralization of over 100%, demonstrating consistent institutional-grade risk management practices.
    • GDT also onboarded 64 new counterparties to our trading platform and continues to support additional tokens. We now provide liquidity in 100 cryptocurrencies.
  • Galaxy Digital Asset Management ("GDAM") reported preliminary assets under management ("AUM") of $1.42 billion as of June 30, 2021, a 12% increase from the quarter ended March 31, 2021. AUM consisted of $933.0 million in GDAM's Galaxy Fund Management products, and $489.6 million in the Galaxy Interactive funds.
    • Recent product launches include: Galaxy Vision Hill Venture Fund of Funds I and the second Galaxy Interactive Fund.
    • Galaxy Bitcoin Fund, LP, Galaxy Institutional Bitcoin Fund, LP, and Galaxy Institutional Bitcoin Fund, Ltd. (collectively the "Bitcoin Funds") track the Bloomberg CFIX pricing of bitcoin ("XBT"), and the XBT has returned 20.37% on a year-to-date basis through June 30, 2021.
    • Galaxy Benchmark Crypto Index Fund LP (the "Index Fund") is a passively managed index fund that tracks the Bloomberg Galaxy Crypto Index (the "BGCI"). The BGCI has returned 90.58% on a year-to-date basis through June 30, 2021.
    • In May 2021, Galaxy Digital acquired Vision Hill, a premier investment consultant and asset manager in the digital asset sector, to create Galaxy Vision Hill. This adds multi-manager, fund of fund offerings to the Company's institutional asset management platform through the Galaxy Vision Hill product suite. At acquisition, Galaxy Vision Hill has one fund with $30 million in AUM.
  • Galaxy Digital Investment Banking ("GDIB") was instrumental in Galaxy Digital's acquisitions of BitGo Inc. and Vision Hill, Inc., both of which were announced during the quarter.
    • GDIB is currently working on seven active mandates in various stages of execution, with an active pipeline including many more potential deals.
    • Key activities as of June 30, 2021 include efforts primarily in capital raising, given the significant amount of fundraising activity occurring throughout the cryptocurrency and digital assets sector.
    • Notably, GDIB won its first buy-side M&A engagement during the quarter.
  • Galaxy Digital Mining ("GDM") continued to expand both its proprietary bitcoin mining operation and Mining Finance ("MiFi") offerings to support the full breadth of the mining ecosystem, while publicizing ongoing commitments to managing its carbon footprint and increasing the use of clean energy.
    • GDM demonstrated continued business model flexibility through both the execution of a resale agreement for its proprietary mining equipment, and the development of a sale-leaseback offering for large mining clients.
    • GDM closed an additional bitcoin-based loan facility, its third bitcoin-collateralized corporate loan to large public miners, for Argo Blockchain.
    • Proprietary mining operations in the second quarter of 2021 benefited from a decrease in network difficulty relative to the first quarter of 2021.
    • Based on forward purchase commitments, GDM continues to expect to achieve up to 1,995 Petahash per second (PH/s) of mining capacity from monthly deliveries through the end of 2022.
    • GDM made public a dedication to managing its carbon footprint and increasing the use of clean energy. As of June 30, 2021, GDM is utilizing sustainable electricity power mix in excess of 69% and has a three-year target to achieve an over-80% sustainable power mix.
  • Principal Investments: The Company now holds 84 total investments across 68 portfolio companies.
    • The Company made 14 new investments during the quarter, adding new portfolio companies like Ramp, Tokemak and Aleo, all of which we believe can be category-defining.
    • Strong fundraising trends within the sector continue to provide the company with flexibility to realize gains opportunistically. In the quarter, the company realized an investment gain of over $2 million from dividends received from portfolio company Bullish Global in advance of its merger with Far Peak Acquisition, a special purpose acquisition company, in July 2021.

Corporate Updates

  • Effective August 4, 2021, the Company has successfully exited the TSX Sandbox program, having met the applicable exit condition of no significant compliance issues for a 12-month period.
  • On August 12, 2021, the Company announced the hiring of Tim Grant as Head of Europe. Tim joins Galaxy from Swiss Exchange SIX Group, where he was CEO of their digital asset exchange SDX. Tim brings 20 years of experience across crypto, fintech, and capital markets, and joins the Company to lead international expansion efforts.
  • The Company announced the hiring of Jennifer Lee as Chief People Officer. Jennifer will join Galaxy Digital on September 27, 2021 from BlackRock, where she most recently served as Managing Director and Global HR Business Partner for Technology and the Chief Operating Officer. Jennifer brings over 20 years of people management, benefits, and strategy experience, and joins the Company to lead talent management and human resources globally.

Earnings Conference Call

An investor conference call will be held today, August 16, 2021 at 8:30 AM Eastern Time. A live webcast with the ability to ask questions will be available at: https://investor.galaxydigital.io/ or directly at: http://public.viavid.com/index.php?id=145822. The conference call can also be accessed by investors in the United States or Canada by dialing 1-877-407-0789, or 1-201-689-8562 (outside the U.S. and Canada). A replay of the webcast will be available and can be accessed in the same manner as the live webcast on the Company's Investor Relations website. Through September 6, 2021, the recording will also be available by dialing 1-844-512-2921, or 1-412-317-6671 (outside the U.S. and Canada) passcode: 13721694.

About Galaxy Digital Holdings Ltd. (TSX: GLXY) ("GDH Ltd.") and Galaxy Digital Holdings LP ("GDH LP")

GDH Ltd.'s only significant asset is a minority investment in GDH LP. GDH LP is a diversified, financial services and investment management company in the digital asset, cryptocurrency and blockchain technology sector. GDH LP's multi-disciplinary team has extensive experience spanning investing, portfolio management, capital markets, operations, and blockchain technology. GDH LP operates in the following businesses: Trading, Asset Management, Principal Investments, Investment Banking and Mining. The CEO of GDH Ltd. and the general partner of GDH LP is Michael Novogratz. GDH LP is headquartered in New York City, with offices in Tokyo, Japan, London, Amsterdam, Hong Kong, Amsterdam, Netherlands, Jersey City, U.S., San Francisco, U.S., Chicago, U.S., and the Cayman Islands (registered office).

Additional information about GDH LP's businesses and products is available on www.galaxydigital.io.

This press release should be read in conjunction with (i) GDH LP's Management Discussion and Analysis and Condensed Consolidated Interim Financial Statements for the three months and six months ended June 30, 2021 and (ii) GDH Ltd.'s Management Discussion and Analysis and Condensed Consolidated Interim Financial Statements for the three months and six months ended June 30, 2021 (together, the "Consolidated Financial Statements" and "MD&As"), which have been filed on SEDAR at www.sedar.com.

Disclaimers and Additional Information

The TSX has not approved or disapproved of the information contained herein. The Ontario Securities Commission has not passed upon the merits of the disclosure record of Galaxy Digital.

The performance of the Funds will vary from the performance of their respective indices.
BLOOMBERG is a trademark or service mark of Bloomberg Finance L.P. GALAXY is a trademark of Galaxy Digital Capital Management LP (GDCM). Bloomberg Finance L.P. and its affiliates (collectively, Bloomberg) are not affiliated with GDCM, the Galaxy Funds and their respective affiliates (collectively, Galaxy). Bloomberg's association with Galaxy is to act as the administrator and calculation agent of the Indices (collectively, the "Index"), which is the property of Bloomberg. Neither Bloomberg nor Galaxy guarantee the timeliness, accurateness, or completeness of any data or information relating to the Index or results to be obtained. Neither Bloomberg nor Galaxy make any warranty, express or implied, as to the Index, any data or values relating thereto or any financial product or instrument linked to, using as a component thereof or based on the Index (Products) or results to be obtained therefrom, and expressly disclaims all warranties of merchantability and fitness for a particular purpose with respect thereto. To the maximum extent allowed by law, Bloomberg, its licensees, Galaxy, and their respective employees, contractors, agents, suppliers, and vendors shall have no liability or responsibility whatsoever for any injury or damages—whether direct, indirect, consequential, incidental, punitive, or otherwise—arising in connection with the Index, any data or values relating thereto or any Products—whether arising from their negligence or otherwise.

No Offer or Solicitation
This release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of any of the proposed reorganization and combination with BitGo. This release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote of approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

Additional Information
In connection with the proposed reorganization and combination with BitGo, Galaxy will file a registration statement, including a management circular/prospectus and an information statement/prospectus, with the Securities and Exchange Commission (the "SEC"). GALAXY AND BITGO SHAREHOLDERS ARE ADVISED TO READ THE MANAGEMENT CIRCULAR/PROSPECTUS AND INFORMATION STATEMENT/PROSPECTUS, RESPECTIVELY, WHEN SUCH DOCUMENTS BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Shareholders may obtain a free copy of the registration statement and such other documents (when available) and any other relevant documents filed with the SEC from the SEC's website at http://www.sec.gov. Copies of the management circular/prospectus and an information statement/prospectus can also be obtained, when available, without charge, from Galaxy's website at https://investor.galaxydigital.io/.

CAUTION ABOUT FORWARD-LOOKING STATEMENTS
The information in this release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and "forward-looking information" under Canadian securities laws (collectively, "forward-looking statements"). Our forward-looking statements include, but are not limited to, statements regarding our or our management team's expectations, hopes, beliefs, intentions or strategies regarding the future, including with respect to mining capacity. Statements that are not historical facts, including statements about the pending acquisition, domestication and the related transactions (the "transactions"), and the parties, perspectives and expectations, 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. Forward-looking statements in this release may include, for example, statements about: our ability to complete the transactions within a particular timeframe. The forward-looking statements contained in this report 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) the occurrence of any event, change or other circumstances that could result in the failure to consummate the transactions; (2) the possibility that the terms and conditions set forth in any definitive agreements with respect to the transactions may differ materially from the terms and conditions set forth herein; (3) the outcome of any legal proceedings that may be instituted following the transactions and any definitive agreements with respect thereto; (4) the inability to complete the transactions due to the failure to satisfy conditions to closing in the definitive agreements with respect to the transactions including in respect of shareholder and stock exchange approvals; (5) changes to the proposed structure of the transactions that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the transactions; (6) the ability to meet and maintain listing standards following the consummation of the transactions; (7) the risk that the transactions disrupts current plans and operations; (8) costs related to the transactions; (9) changes in applicable laws or regulations; (10) the possibility that the combined company may be adversely affected by other economic, business, and/or competitive factors; (11) changes or events that impact the cryptocurrency industry, including potential regulation, that are out of our control; (12) the risk that our business will not grow in line with our expectations or continue on its current trajectory; (13) the possibility that our addressable market is smaller than we have anticipated and/or that we may not gain share of it; (14) those other risks contained in the Annual Information Form for the year ended December 31, 2020 available on the Company's profile at www.sedar.com and (15) other risks and uncertainties to be indicated from time to time in filings made with the SEC. Should one or more of these risks or uncertainties materialize, they could cause our actual results to differ materially from the forward-looking statements. We are not undertaking any obligation to update or revise any forward looking statements whether as a result of new information, future events or otherwise. 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.

Galaxy Digital Holdings LP's Financial Results

(in thousands)

June 30, 2021


December 31, 2020

Assets




Current assets




Cash

$

410,249



$

135,766


Digital assets

1,579,665



850,380


Investments

613,005



260,383


Receivable for digital asset trades

13,302



13,204


Digital asset loans receivable

163,334



96,724


Digital assets receivables

72,410



12,813


Assets posted as collateral

41,377



15,768


Receivables

21,979



2,710


Due from broker

150



4,452


Derivatives

34,329



15,922


Prepaid expenses and other assets

40,121



6,494


Goodwill

24,645



15,515


Loans receivable

110,474



8,510



3,125,040



1,438,641






Digital assets receivables

18,927



6,911


Right of use asset

4,268



4,573


Property and equipment

6,105



3,693


Intangible asset

1,971



2,406



31,271



17,583


Total assets

$

3,156,311



$

1,456,224






Liabilities




Current liabilities




Digital assets sold short

$

1,412



$

5,278


Investments sold short

10,704



4,384


Warrant liability

50,045



20,781


Accounts payable and accrued liabilities

144,039



34,154


Payables to customers

150,829




Payable for digital asset trades

54,225



31,144


Digital asset loans payable

672,723



226,399


Loans Payable

17,000




Collateral payable

197,827



44,660


Lease liability

710



742



1,299,514



367,542






Lease liability

4,375



4,515


Total liabilities

1,303,889



372,057






Equity




Partners' capital

1,497,399



798,211


Non-controlling interests

355,023



285,956


Total equity

1,852,422



1,084,167






Total liabilities and equity

$

3,156,311



$

1,456,224


(in thousands)

Three months
ended
June 30, 2021

Three months
 ended
June 30, 2020

Income



Advisory and management fees

$

2,444


$

1,471


Net income from digital asset mining

987



Leasing income from mining equipment

632



Net realized gain (loss) on digital assets

(161,112)


48,517


Net realized gain (loss) on investments

41,363


(4,581)


Interest income

16,835


1,270


Net derivative gain

117,041


2,438


Other income

3,357




21,547


49,115





Operating expenses



Equity based compensation

13,548


3,291


Compensation and compensation related

(11,319)


5,810


General and administrative

8,290


2,623


Professional fees

11,527


1,368


Profit share arrangement expense

8,033



Interest

18,467


1,260


Insurance

504


382


Director fees

178


50



(49,228)


(14,784)





Net unrealized gain (loss) on digital assets

(496,268)


(2,203)


Net unrealized gain (loss) on investments

172,762


6,958


Revaluation of warrant liability

2,663



Unrealized foreign currency gain (loss)

(918)


(392)


Realized foreign currency gain (loss)

(4)


(190)



(321,765)


4,173





Income (loss) for the period

$

(349,446)


$

38,504





Income (loss) attributed to:



Unit holders of the Partnership

$

(175,834)


$

35,295


Non-controlling interests

(173,612)


3,209



$

(349,446)


$

38,504


Other comprehensive income



Foreign currency translation adjustment

$

17


$





Comprehensive income (loss) for the period

$

(349,429)


$

38,504





Comprehensive income (loss) attributed to:



Unit holders of the Partnership

$

(175,817)


$

35,295


Non-controlling interests

(173,612)


3,209



$

(349,429)


$

38,504


Income and expenses by each reportable segment of GDH LP for the three months ended June 30, 2021 are as follows (in thousands):


Trading

Principal
Investments

Asset
Management

Investment
Banking

Mining

Corporate
and Other

Totals









Advisory and
management fees

$

60

$

$

2,384

$

$

$

$

2,444

Net income from digital
asset mining

987

987

Leasing income from
mining equipment

632

632

Net realized gain on
digital assets

(236,570)

(2,525)

77,983

(161,112)

Net realized gain on
investments

41,363

41,363

Interest income

16,816

19

16,835

Net derivative gain

92,041

25,000

117,041

Other income

1,220

2,062

75

3,357


(126,433)

65,919

80,442

1,619

21,547









Operating expenses

33,746

1,316

5,794

336

618

7,418

49,228









Net unrealized gain on
digital assets

(177,874)

(67,502)

(249,856)

(1,036)

(496,268)

Net unrealized gain on
investments

172,762

172,762

Net unrealized loss on
warrant liability

2,663

2,663

Unrealized foreign
currency loss

(918)

(918)

Realized foreign
currency loss

(4)

(4)


(178,796)

105,260

(249,856)

(1,036)

2,663

(321,765)









Net income (loss) for
the period, including
non-controlling
interests

$

(338,975)

$

169,863

$

(175,208)

$

(336)

$

(35)

$

(4,755)

$

(349,446)

Income and expenses by each reportable segment of GDH LP for the three months ended June 30, 2020 are as follows (in thousands):


Trading

Principal
Investments

Asset
Management

Investment
Banking

Corporate
and Other

Totals

Income (loss)







Advisory and management fees

$

$

$

1,246

$

225

$

$

1,471

Net realized loss on digital assets

48,710

(210)

17

48,517

Net realized gain on investments

(4,581)

(4,581)

Interest income

1,143

123

5


1,271

Net derivative gain

2,438

2,438


52,291

(4,668)

1,268

225

49,116








Operating expenses

4,810

789

3,003

769

5,413

14,784








Net unrealized gain (loss) on
digital assets

(14,565)

9,137

3,225

(2,203)

Net unrealized gain on
investments

6,958

6,958

Unrealized foreign currency loss

(392)

(392)

Realized foreign currency gain

(190)

(190)


(15,147)

16,095

3,225

4,173








Net loss for the period,
including non-controlling
interests

$

32,334

$

10,638

$

1,490

$

(544)

$

(5,413)

$

38,505

Assets and liabilities by reportable segment of GDH LP as of June 30, 2021 are as follows (in thousands):


Trading

 Principal
Investments

Asset
Management

Investment
Banking

Mining

Corporate and
Other

Totals

Total assets

$

1,824,233

$

813,923

$

416,470

$

6,357

$

42,541

$

52,787

$

3,156,311









Total liabilities

$

1,131,271

$

2,198

$

81,169

$

192

$

2,012

$

87,047

$

1,303,889

Assets and liabilities by reportable segment of GDH LP as of December 31, 2020 are as follows (in thousands):


Trading

 Principal
Investments

Asset
Management

Investment
Banking

Mining

Corporate and
Other

Totals

Total assets

$

751,138

$

357,529

$

307,720

$

6,190

$

3,633

$

30,014

$

1,456,224









Total liabilities

$

333,321

$

101

$

18,170

$

22

$

$

20,443

$

372,057

Select statement of financial position information

The fair value of each asset class by reporting segment of GDH LP as of June 30, 2021 is as follows (in thousands):


Trading

Principal
Investments

Asset
Management

Investment
Banking

Mining

Corporate
and Other

Totals

Digital assets

$

1,095,246

$

133,726

$

348,519

$

$

2,174

$

$

1,579,665

Digital assets receivables

91,337

91,337

Digital assets posted as
collateral

40,977

40,977

Investments:








Pre-Launch network

3,138

3,138

Convertible notes


7,032





7,032

Preferred stock

178,848

178,848

Common stock


68,457

68,457

LP/LLC interests

326,283

326,283

Warrants/Trust units/Trust
shares

26,770

2,477

29,247


$

1,162,993

$

811,298

$

348,519

$

$

2,174

$

$

2,324,984

The fair value of each asset class by reporting segment of GDH LP as of December 31, 2020 is as follows (in thousands):


Trading

Principal
Investments

Asset
Management

Investment
Banking

Corporate and
Other

Totals

Digital assets

$

444,216

$

118,555

$

287,609

$

$

$

850,380

Digital assets receivables

19,724

19,724

Digital assets posted as collateral

15,625

15,625

Investments:







Pre-Launch network

500

500

Convertible notes

4,501

4,501

Preferred stock

86,258

86,258

Common stock

29,970

29,970

LP/LLC interests

84,311

84,311

Warrants/Trust units/Trust shares

51,182

3,661

54,843


$

511,023

$

347,480

$

287,609

$

$

$

1,146,112

All figures are in U.S. Dollars unless otherwise noted.

SOURCE Galaxy Digital Holdings Ltd.

© Canada Newswire, source Canada Newswire English

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Financials
Sales 2021 1 329 M 1 074 M 1 074 M
Net income 2021 1 579 M 1 277 M 1 277 M
Net Debt 2021 - - -
P/E ratio 2021 -
Yield 2021 -
Capitalization 2 325 M 1 880 M 1 880 M
Capi. / Sales 2021 1,75x
Capi. / Sales 2022 2,93x
Nbr of Employees -
Free-Float 15,4%
Chart GALAXY DIGITAL HOLDINGS LTD.
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Galaxy Digital Holdings Ltd. Technical Analysis Chart | MarketScreener
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Technical analysis trends GALAXY DIGITAL HOLDINGS LTD.
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 2
Last Close Price 19,25 $
Average target price 22,44 $
Spread / Average Target 16,5%
Managers and Directors
Michael Edward Novogratz Chief Executive Officer & Director
Christopher C. Ferraro Co-President
Damien Vanderwilt Co-President & Head-Global Markets
Alexander Ioffe Chief Financial Officer
Michael Daffey Chairman
Sector and Competitors