By Adriano Marchese


Galaxy Digital Holdings Ltd. said its loss widened in the second quarter as digital assets face a tumultuous time, driving unrealized losses higher in the period.

On Monday, the cryptocurrency financial services and investment management firm said its net loss was $554.7 million in the period, or $1.74 a share, compared with a loss of $182.9 million, or 56 cents a share, a year earlier.

The company said the increased loss was primarily due to unrealized losses on digital assets and other investments.

The price of bitcoin at 7:08 a.m. ET was $24,050, down nearly 50% since the beginning of the year.

Galaxy Digital said it has about $1 billion in cash and $474.3 million in net digital asset positions. On Dec. 31, 2021, Galaxy Digital had $811.1 million in cash and $1.21 billion in net digital asset positions.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

08-08-22 0735ET