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REPORTABLE SEGMENTS (Tables) | 3 Months Ended
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Mar. 31, 2025
Galaxy Digital Holdings, LP |
Segment Reporting Information [Line Items] |
Schedule of Reporting Information by Segment | Assets and liabilities by each of the reportable segments as of December 31, 2024 are as follows:
(in thousands) |  | Digital Assets |  | Data Centers |  | Treasury and Corporate |  | Totals
Total assets |  | $ | 3,723,814 |  |  | $ | 199,694 |  |  | $ | 3,196,347 |  |  | $ | 7,119,855 |
Total liabilities |  | $ | 3,163,499 |  |  | $ | — |  |  | $ | 1,762,004 |  |  | $ | 4,925,503 |
Assets and liabilities by each of the reportable segments as of December 31, 2023 are as follows:
(in thousands) |  | Digital Assets |  | Data Centers |  | Treasury and Corporate |  | Totals
Total assets |  | $ | 1,978,031 |  |  | $ | 114,529 |  |  | $ | 1,501,720 |  |  | $ | 3,594,280 |
Total liabilities |  | $ | 1,679,765 |  |  | $ | — |  |  | $ | 203,344 |  |  | $ | 1,883,109 |
Income and expenses by each of the reportable segments for the year ended December 31, 2024 is as follows:
(in thousands) |  | Digital Assets |  | Data Centers |  | Treasury and Corporate |  | Totals
Revenues |  | $ | 42,497,063 |  |  | $ | — |  |  | $ | 99,610 |  |  | $ | 42,596,673 |
Net gain / (loss) on digital assets |  | 57,560 |  |  | — |  |  | 576,997 |  |  | 634,557 |
Net gain / (loss) on investments |  | 17,425 |  |  | — |  |  | 241,366 |  |  | 258,791 |
Net gain / (loss) on derivatives trading |  | 168,355 |  |  | — |  |  | 99,414 |  |  | 267,769 |
Revenues and gains / (losses) from operations |  | 42,740,403 |  |  | — |  |  | 1,017,387 |  |  | 43,757,790 |
Transaction expenses |  | 42,437,298 |  |  | — |  |  | 304,478 |  |  | 42,741,776 |
Compensation and benefits |  | 175,925 |  |  | — |  |  | 89,666 |  |  | 265,591 |
Notes interest expense |  | — |  |  | — |  |  | 30,804 |  |  | 30,804 |
Depreciation and amortization |  | 11,446 |  |  | 7,497 |  |  | 27,949 |  |  | 46,892 |
Other expenses |  | 68,725 |  |  | — |  |  | 245,266 |  |  | 313,991 |
Operating expenses |  | 42,693,394 |  |  | 7,497 |  |  | 698,163 |  |  | 43,399,054 |
Operating income |  | 47,009 |  |  | (7,497) |  |  | 319,224 |  |  | 358,736 |
Unrealized gain / (loss) on notes payable – derivative |  | — |  |  | — |  |  | (31,727) |  |  | (31,727) |
Other income / (expense), net |  | — |  |  | — |  |  | 2,774 |  |  | 2,774 |
Total other income / (expense) |  | — |  |  | — |  |  | (28,953) |  |  | (28,953) |
Net income / (loss) for the period, before taxes |  | $ | 47,009 |  |  | $ | (7,497) |  |  | $ | 290,271 |  |  | $ | 329,783 |
Income tax benefit |  | — |  |  | — |  |  | (16,939) |  |  | (16,939) |
Net income / (loss) for the period |  | $ | 47,009 |  |  | $ | (7,497) |  |  | $ | 307,210 |  |  | $ | 346,722 |
Income and expenses by each of the reportable segments for the year ended December 31, 2023 is as follows (recast based on adoption of ASU 2023-07):
(in thousands) |  | Digital Assets |  | Data Centers |  | Treasury and Corporate |  | Totals
Revenues |  | $ | 51,565,491 |  |  | $ | — |  |  | $ | 61,288 |  |  | $ | 51,626,779 |
Net gain / (loss) on digital assets |  | 22,527 |  |  | — |  |  | 310,923 |  |  | 333,450 |
Net gain / (loss) on investments |  | — |  |  | — |  |  | 97,827 |  |  | 97,827 |
Net gain / (loss) on derivatives trading |  | 65,380 |  |  | — |  |  | 86,203 |  |  | 151,583 |
Revenues and gains / (losses) from operations |  | 51,653,398 |  |  | — |  |  | 556,241 |  |  | 52,209,639 |
Transaction expenses |  | 51,509,381 |  |  | — |  |  | 83,042 |  |  | 51,592,423 |
Compensation and benefits |  | 148,909 |  |  | — |  |  | 70,347 |  |  | 219,256 |
Notes interest expense |  | — |  |  | — |  |  | 27,285 |  |  | 27,285 |
Depreciation and amortization |  | 4,344 |  |  | 5,548 |  |  | 13,053 |  |  | 22,945 |
Other expenses |  | 44,854 |  |  | — |  |  | 48,710 |  |  | 93,564 |
Operating expenses |  | 51,707,488 |  |  | 5,548 |  |  | 242,437 |  |  | 51,955,473 |
Operating income |  | (54,090) |  |  | (5,548) |  |  | 313,804 |  |  | 254,166 |
Unrealized gain / (loss) on notes payable – derivative |  | — |  |  | — |  |  | (9,603) |  |  | (9,603) |
Other income / (expense), net |  | — |  |  | — |  |  | (135) |  |  | (135) |
Total other income / (expense) |  | — |  |  | — |  |  | (9,738) |  |  | (9,738) |
Net income / (loss) for the period, before taxes |  | $ | (54,090) |  |  | $ | (5,548) |  |  | $ | 304,066 |  |  | $ | 244,428 |
Income tax expense |  | — |  |  | — |  |  | 15,914 |  |  | 15,914 |
Net income / (loss) for the period |  | $ | (54,090) |  |  | $ | (5,548) |  |  | $ | 288,152 |  |  | $ | 228,514 |
Income and expenses by each of the reportable segments for the year ended December 31, 2022 is as follows (recast based on adoption of ASU 2023-07):
(in thousands) |  | Digital Assets |  | Data Centers |  | Treasury and Corporate |  | Totals
Revenues |  | $ | 119,785,259 |  |  | $ | — |  |  | $ | 40,588 |  |  | $ | 119,825,847 |
Net gain / (loss) on digital assets |  | (289,497) |  |  | — |  |  | 1,227,862 |  |  | 938,365 |
Net gain / (loss) on investments |  | — |  |  | — |  |  | (464,918) |  |  | (464,918) |
Net gain / (loss) on derivatives trading |  | 100,341 |  |  | — |  |  | 92,217 |  |  | 192,558 |
Revenues and gains / (losses) from operations |  | 119,596,103 |  |  | — |  |  | 895,749 |  |  | 120,491,852 |
Transaction expenses |  | 119,437,498 |  |  | — |  |  | 1,558,433 |  |  | 120,995,931 |
Compensation and benefits |  | 134,550 |  |  | — |  |  | 81,651 |  |  | 216,201 |
Notes interest expense |  | — |  |  | — |  |  | 37,029 |  |  | 37,029 |
Depreciation and amortization |  | — |  |  | — |  |  | 12,852 |  |  | 12,852 |
Other expenses |  | 95,578 |  |  | — |  |  | 83,481 |  |  | 179,059 |
Operating expenses |  | 119,667,626 |  |  | — |  |  | 1,773,446 |  |  | 121,441,072 |
Operating income |  | (71,523) |  |  | — |  |  | (877,697) |  |  | (949,220) |
Change in fair value of warrant liability |  | — |  |  | — |  |  | 20,322 |  |  | 20,322 |
Unrealized gain / (loss) on notes payable – derivative |  | — |  |  | — |  |  | 57,998 |  |  | 57,998 |
Other income / (expense), net |  | — |  |  | — |  |  | 26,480 |  |  | 26,480 |
Total other income / (expense) |  | — |  |  | — |  |  | 104,800 |  |  | 104,800 |
Net income / (loss) for the period, before taxes |  | $ | (71,523) |  |  | $ | — |  |  | $ | (772,897) |  |  | $ | (844,420) |
Income tax benefit |  | — |  |  | — |  |  | (28,291) |  |  | (28,291) |
Net income / (loss) for the period |  | $ | (71,523) |  |  | $ | — |  |  | $ | (744,606) |  |  | $ | (816,129) |
Net income / (loss) attributed to: |  |  |  |  |  |  |  |
Redeemable noncontrolling interests |  | — |  |  | — |  |  | (97,219) |  |  | (97,219) |
Unit holders of the Company |  | $ | (71,523) |  |  | $ | — |  |  | $ | (647,387) |  |  | $ | (718,910) |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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