Galaxy Digital reports Q1 loss, sees data center growth

Galaxy Digital experienced a first-quarter loss of $216 million, which CEO Mike Novogratz described as a "transition year" for the company's cryptocurrency operations. Despite the loss, Novogratz expressed optimism regarding growth in the data center sector. The company is also involved in the burgeoning field of real-world asset (RWA) tokenization, with its co-incubated platform Nuva successfully raising $5.2 million in seed funding. This strategic diversification signals Galaxy Digital's efforts to navigate the volatile crypto market while capitalizing on emerging opportunities in related technology infrastructure.