Galaxy Digital reported an $85 million net loss for the second quarter of 2026 as cryptocurrency valuations declined in the period.

That resulted in a $0.09 loss per share posted on Wednesday which Galaxy attributed to the depreciation of digital asset prices during the quarter.

Revenue at $8.7 billion was down 15% from $10.2 billion in the first quarter of 2026. Analysts had forecast a consensus of $12.7 billion, according to estimates compiled by Yahoo Finance.

Galaxy’s shares fell 6.2% in premarket activity on Wednesday to $20.70, set to extend a nearly 10% decline over the past month.

The total crypto market capitalization fell nearly 15% during the quarter, to $2 trillion on June 30 from $2.35 trillion on April 1, according to…