🔹 Net Income: $30.7M
🔹 EPS: $0.08 (Est. $0.10) 😐
🔹 Adj EBITDA: $211M; UP from ($290M) in Q1
🔹 Adj Gross Profit: $299M; UP from ($204M) in Q1
🔹 Total Assets: $9.1B; UP +43% QoQ
🔹 Total Equity: $2.6B; UP +38% QoQ
🔹 Cash & Stablecoins: $1.18B
🔹 Balance Sheet Net Digital Assets: $1.27B; UP +40% QoQ
🔹 Balance Sheet Venture/Fund/Other Investments: $718M; UP +15% QoQ
Digital Assets (Global Markets)
🔹 Adjusted Gross Profit: $55.4M; UP +28% QoQ
🔹 Digital Asset Trading Volumes: DOWN -22% QoQ
🔹 Average Loan Book Size: $1.1B; UP +27% QoQ
🔹 Total Trading Counterparties: 1,445; UP +5% QoQ
🔹 Investment Banking: Revenue recognized from Bitstamp–Robinhood deal
Asset Management & Infrastructure Solutions
🔹 Adjusted Gross Profit: $16.0M; DOWN -26% QoQ
🔹 Assets on Platform: $8.9B; UP +27% QoQ
🔹 ETFs: $3.3B; UP +28% QoQ
🔹 Alternatives: $2.4B; UP +18% QoQ
🔹 Assets Under Stake: $3.2B; UP +34% QoQ
Treasury & Corporate
🔹 Adjusted Gross Profit: $228M; turnaround from ($268M)
🔹 Adjusted EBITDA: $198M; turnaround from ($301M)
Data Centers & Helios Campus Expansion
🔹 CoreWeave committed to full 800MW at Helios
🔹 Additional 160 acres + 1GW interconnection acquired; expanding campus to 1,500 acres and 3.5GW potential
🔹 Phase I (133MW): Delivery expected 1H26
🔹 Phase I–III Committed Load: 526MW
🔹 Projected Annual Revenue: $1B+
Other Metrics & KPIs
🔹 Digital Assets Adjusted Gross Profit: $71.4M; UP +10% QoQ
🔹 Digital Assets Adjusted EBITDA: $13M
🔹 GAAP Revenues: $9.06B; DOWN -30% QoQ
🔹 Transaction Expenses: $8.63B; DOWN -33% QoQ
CEO Commentary
🔸 “July marked the strongest monthly financial performance in our Digital Assets business history.”
🔸 “We executed one of the largest notional bitcoin transactions in the industry.”
🔸 “We’ve expanded Helios to 3.5GW capacity and secured over 1,500 acres under control.”
🔸 “Data Center revenue expected to begin in 1H26 upon Phase I delivery to CoreWeave.”
