Galaxy Digital Inc. (Nasdaq: GLXY) has approved a share buyback initiative of up to $200 million, allowing the company to repurchase its Class A common stock over the next twelve months.
According to a company announcement, the stock buybacks may take place on the open market or through private negotiations, including plans under Rule 10b5-1, and are still subject to relevant securities regulations and exchange policies. The buyback is not obligatory and can be paused or stopped at any moment.
The repurchase program will last for 12 months, and if it occurs on the Toronto Stock Exchange, it will need regulatory approval as part of a standard issuer bid. Purchases on Nasdaq would be limited to 5% of Galaxy’s outstanding shares at the inception of the program.
Galaxy operates in digital asset trading, asset management, staking, custody, and data center infrastructure, and it is listed on both Nasdaq and the Toronto Stock Exchange. The company hasn’t shared how much of the $200 million authorization it plans to utilize or when the repurchases may commence.
Mike Novogratz, the company’s founder and CEO, expressed that Galaxy is “entering 2026 from a position of strength,” citing that the company’s balance sheet and ongoing investments provide the flexibility to return capital when the management views the stock as undervalued.
This announcement follows Galaxy’s report of a net loss of $482 million for the fourth quarter of 2025 and a total loss of $241 million for the year, linked to declining digital asset valuations and approximately $160 million in one-off expenses.
Currently, Galaxy shares have risen about 17% within the last 24 hours, though they are still down approximately 25% for the month, as reported by Yahoo Finance.
Market Downturn Affects Crypto Stocks
Galaxy’s recent decline in share price signals a wider downturn in crypto-related stocks, with Bitcoin values dropping from January’s peak beyond $97,000 to a low of about $60,300 on Thursday.
Coinbase Global (COIN) shares dropped around 36% in the last month, while Circle Internet Group (CRCL) fell roughly 34% in the same timeframe, marking a 65% drop over half a year.
Bitcoin mining stocks such as MARA Holdings (MARA) faced about a 27% drop in the last month and nearly 52% over six months.
