Galaxy (NASDAQ: GLXY) announced Friday that its Board of Directors approved a share repurchase program for up to $200 million of Class A common stock.
Galaxy Founder and CEO Mike Novogratz stated the company enters 2026 with a “strong balance sheet” and continued investment in growth. He noted the foundation provides flexibility to return capital when the stock price “doesn’t reflect the value of the business.”
The news follows disappointing Q4 2025 Earnings, which saw the fair market value repricing of Galaxy’s digital asset create a net loss of $482 million.
The repurchase mandate has a term of 12 months and allows for suspension or discontinuation at any time. Galaxy may purchase shares through open market transactions, privately negotiated deals, or trading plans under Rule 10b5-1.
Purchases on the TSX require approval for a normal course issuer bid. Nasdaq purchases generally face a cap of 5% of outstanding shares unless specific exceptions apply.
This capital allocation decision follows recent infrastructure expansion updates. Galaxy secured approval on January 15 for an additional 830 megawatts at its Helios Data Center campus.
The approval doubles the total capacity at Helios to over 1.6 gigawatts. This expansion supports operations in cryptocurrency mining and potentially AI/HPC.
Shares traded up 15.56% at the market open to $19.46.
