TechFlow news, Galaxy Digital released its Q3 2023 financial report. Preliminary data as of October 31 showed a net loss of $94 million in the third quarter due to fluctuations in digital asset prices and increased market volatility. The company achieved approximately $124 million in pre-tax revenue in October, with equity reaching around $1.6 billion. Additionally, the company continues advancing its U.S. listing and restructuring plans, executing a share buyback program repurchasing approximately 1.2 million shares.
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Regarding financial metrics, equity slightly declined, liquidity and net digital assets increased, cash and net stablecoins decreased, and net income recorded a loss.
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Within Galaxy Global Markets, counterparty trading revenue decreased sequentially, but counterparty trading volume significantly increased. The investment banking division successfully completed two transactions, with a pipeline comprising 22 deals totaling $2.2 billion in value.
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In asset management, management and performance fees rose 11% quarter-on-quarter, with total assets under management reaching $3.927 billion.
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Within Galaxy Digital Infrastructure Solutions, mining operations revenue slightly declined, with total hash rate reaching 3.9 EH/s.
