08:46 AM EDT, 05/14/2024 (MT Newswires) -- Galaxy Digital Holdings ( BRPHF ) on Tuesday reported first-quarter net income of US$421.7 million ($576.3 million), or US$1.23 per diluted unit, up from US$134.2 million, or US$0.41 per diluted unit, a year earlier.

Three analysts polled by Capital IQ expected US$0.81.

Total revenue and gain from operations for the quarter ended March 31 was US$259.7 million, up from US$146.7 million a year earlier. Analysts surveyed by Capital IQ expected US$134.1 million.

Total assets under management as of March 31, 2024 were US$7.78 billion, up 50% from US$5.18 billion as of Dec. 31, 2023.

Further, the company said it has reached 5.7 exahash per second of hashrate under management across its proprietary and hosted footprint, and remains on track to achieve 6 EH/s of HUM in the third quarter.

For the first quarter, Galaxy mined 373 bitcoin from its mining operations at an average marginal cost to mine of less than US$19,500.