Galaxy Digital Inc. (Nasdaq: GLXY) has approved a share repurchase program of up to $200 million to buy back Class A common stock over the next 12 months. The company said repurchases may be made on the open market or through privately negotiated transactions, including under Rule 10b5‑1 trading plans, and will comply with applicable securities laws and exchange rules. The program does not obligate Galaxy to repurchase shares and may be suspended or discontinued at any time.
If repurchases occur on the Toronto Stock Exchange, they will be subject to regulatory approval under a normal course issuer bid. Purchases on Nasdaq would be capped at 5% of Galaxy’s outstanding shares at the start of the program. Galaxy, which trades on both Nasdaq and the Toronto Stock Exchange, operates in digital asset trading, asset management, staking, custody and data center infrastructure. The company did not disclose how much of the $200 million it plans to use or when buybacks might begin.
Founder and CEO Mike Novogratz said Galaxy is “entering 2026 from a position of strength,” and that the company’s balance sheet and ongoing investments give management flexibility to return capital when it believes the stock is undervalued.
The buyback announcement follows Galaxy’s report of a $482 million net loss for the fourth quarter of 2025 and a $241 million loss for the full year, which the company attributed to lower digital asset prices and about $160 million in one‑time costs. At the time of the announcement, Galaxy shares were up roughly 17% over 24 hours but remained about 25% lower for the month, per Yahoo Finance.
Market downturn impacts crypto stocks
Galaxy’s share decline reflects a broader pullback in crypto-related equities as Bitcoin slid from January highs above $97,000 to around $60,300. Coinbase Global (COIN) fell about 36% over the past month, while Circle Internet Group (CRCL) dropped roughly 34% month‑over‑month and about 65% over six months.
Strategy (MSTR), the largest public holder of Bitcoin with 713,502 BTC, fell about 20% over the past month and nearly 68% over six months, and reported a $12.4 billion net loss in Q4 2025. Bitcoin mining stocks also declined: MARA Holdings (MARA) was down about 27% over the past month and roughly 52% over six months, while IREN Limited (IREN) was down about 8% on the month.
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