Galaxy Digital Capital Management GP LLC Hedge Fund

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MU	MICRON TECHNOLOGY INC	20,424	$3,417	2.5%	$127.82	0.0%	COM	595112103
AMAT	APPLIED MATLS INC	16,484	$3,375	2.4%	$180.78	0.0%	COM	038222105
CIFR	CIPHER MINING INC	234,400	$2,951	2.1%	$5.68	+32.9%	Put	17253J106
SOLZ	VOLATILITY SHS TR	113,746	$2,516	1.8%	$22.12	—	SOLANA ETF	92864M822
MA	MASTERCARD INCORPORATED	3,800	$2,161	1.6%	$531.81	+7.8%	Put	57636Q104
MU	MICRON TECHNOLOGY INC	12,500	$2,092	1.5%	$127.82	0.0%	Put	595112103
ETHA	ISHARES ETHEREUM TR	62,699	$1,976	1.4%	$31.51	—	SHS	46438R105
GOOGL	ALPHABET INC	7,800	$1,896	1.4%	$165.53	+26.4%	Put	02079K305
POWL	POWELL INDS INC	5,828	$1,776	1.3%	$253.93	0.0%	COM	739128106
BLK	BLACKROCK INC	1,500	$1,749	1.3%	$1009.86	+9.8%	Put	09290D101
FOUR	SHIFT4 PMTS INC	21,783	$1,686	1.2%	$92.96	0.0%	CL A	82452J109
WLAC	WILLOW LANE ACQUISITION CORP	125,604	$1,454	1.1%	$10.55	0.0%	ORD SHS CL A	G9675P102
FIGR	FIGURE TECHNOLOGY SOLUTIO	18,556	$675	0.5%	$38.84	0.0%	COM CL A	349381103

Increased Positions (17)

CLSK CLEANSPARK INC 5.0%

Value ($000) $6,936 (+264.0%) Shares 478,314 (+176.9%) Est. Cost $11.58 Unrealized -2.6%

RIOT RIOT PLATFORMS INC 6.2%

Value ($000) $8,493 (+70.9%) Shares 446,294 (+1.5%) Est. Cost $10.93 Unrealized +26.7%

CORZ CORE SCIENTIFIC INC NEW 13.8%

Value ($000) $18,968 (+18.3%) Shares 1,057,317 (+12.6%) Est. Cost $11.75 Unrealized +24.8%

IBIT ISHARES BITCOIN TRUST ETF 3.1%

Value ($000) $4,245 (+168.8%) Shares 65,300 (+153.1%) Est. Cost $61.26 Unrealized —

RIOT RIOT PLATFORMS INC 3.9%

Value ($000) $5,315 (+73.6%) Shares 279,300 (+3.1%) Est. Cost $10.93 Unrealized +26.7%

TSM TAIWAN SEMICONDUCTOR MFG LTD 2.1%

Value ($000) $2,841 (+39.5%) Shares 10,172 (+13.1%) Est. Cost $206.98 Unrealized —

IBIT ISHARES BITCOIN TRUST ETF 8.0%

Value ($000) $11,064 (+7.5%) Shares 170,223 (+1.2%) Est. Cost $61.26 Unrealized —

BLK BLACKROCK INC 1.8%

Value ($000) $2,547 (+42.7%) Shares 2,185 (+28.5%) Est. Cost $1009.86 Unrealized +9.8%

VRT VERTIV HOLDINGS CO 2.6%

Value ($000) $3,609 (+23.3%) Shares 23,921 (+5.0%) Est. Cost $119.25 Unrealized +11.8%

LRCX LAM RESEARCH CORP 1.1%

Value ($000) $1,532 (+50.6%) Shares 11,443 (+9.5%) Est. Cost $80.49 Unrealized +31.1%

JPM JPMORGAN CHASE & CO. 2.5%

Value ($000) $3,418 (+13.5%) Shares 10,835 (+4.4%) Est. Cost $241.40 Unrealized +22.6%

MS MORGAN STANLEY 1.8%

Value ($000) $2,417 (+14.3%) Shares 15,205 (+1.3%) Est. Cost $119.91 Unrealized +22.1%

ETOR ETORO GROUP LTD 1.4%

Value ($000) $1,994 (-7.9%) Shares 48,312 (+48.7%) Est. Cost $59.93 Unrealized -14.1%

MA MASTERCARD INCORPORATED 2.0%

Value ($000) $2,779 (+4.8%) Shares 4,885 (+3.6%) Est. Cost $531.81 Unrealized +7.8%

COIN COINBASE GLOBAL INC 1.3%

Value ($000) $1,737 (+6.6%) Shares 5,148 (+10.7%) Est. Cost $260.31 Unrealized +30.3%

META META PLATFORMS INC 0.8%

Value ($000) $1,048 (+9.8%) Shares 1,427 (+10.4%) Est. Cost $599.62 Unrealized +23.9%

V VISA INC 1.9%

Value ($000) $2,614 (-0.8%) Shares 7,658 (+3.2%) Est. Cost $318.51 Unrealized +8.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CLSK	CLEANSPARK INC	478,314 (+176.9%)	$6,936 (+264.0%)	5.0%	$11.58	-2.6%	COM	18452B209
RIOT	RIOT PLATFORMS INC	446,294 (+1.5%)	$8,493 (+70.9%)	6.2%	$10.93	+26.7%	COM	767292105
CORZ	CORE SCIENTIFIC INC NEW	1,057,317 (+12.6%)	$18,968 (+18.3%)	13.8%	$11.75	+24.8%	COM	21874A106
IBIT	ISHARES BITCOIN TRUST ETF	65,300 (+153.1%)	$4,245 (+168.8%)	3.1%	$61.26	—	Put	46438F101
RIOT	RIOT PLATFORMS INC	279,300 (+3.1%)	$5,315 (+73.6%)	3.9%	$10.93	+26.7%	Put	767292105
TSM	TAIWAN SEMICONDUCTOR MFG LTD	10,172 (+13.1%)	$2,841 (+39.5%)	2.1%	$206.98	—	SPONSORED ADS	874039100
IBIT	ISHARES BITCOIN TRUST ETF	170,223 (+1.2%)	$11,064 (+7.5%)	8.0%	$61.26	—	SHS BEN INT	46438F101
BLK	BLACKROCK INC	2,185 (+28.5%)	$2,547 (+42.7%)	1.8%	$1009.86	+9.8%	COM	09290D101
VRT	VERTIV HOLDINGS CO	23,921 (+5.0%)	$3,609 (+23.3%)	2.6%	$119.25	+11.8%	COM CL A	92537N108
LRCX	LAM RESEARCH CORP	11,443 (+9.5%)	$1,532 (+50.6%)	1.1%	$80.49	+31.1%	COM	512807306
JPM	JPMORGAN CHASE & CO.	10,835 (+4.4%)	$3,418 (+13.5%)	2.5%	$241.40	+22.6%	COM	46625H100
MS	MORGAN STANLEY	15,205 (+1.3%)	$2,417 (+14.3%)	1.8%	$119.91	+22.1%	COM	617446448
ETOR	ETORO GROUP LTD	48,312 (+48.7%)	$1,994 (-7.9%)	1.4%	$59.93	-14.1%	SHS CL A	G32089107
MA	MASTERCARD INCORPORATED	4,885 (+3.6%)	$2,779 (+4.8%)	2.0%	$531.81	+7.8%	CL A	57636Q104
COIN	COINBASE GLOBAL INC	5,148 (+10.7%)	$1,737 (+6.6%)	1.3%	$260.31	+30.3%	COM CL A	19260Q107
META	META PLATFORMS INC	1,427 (+10.4%)	$1,048 (+9.8%)	0.8%	$599.62	+23.9%	CL A	30303M102
V	VISA INC	7,658 (+3.2%)	$2,614 (-0.8%)	1.9%	$318.51	+8.4%	COM CL A	92826C839

Exited Positions (14)

CORZ CORE SCIENTIFIC INC NEW 6.7%

Value ($000) $9,247 Shares 541,700 Est. Cost $11.75 Unrealized +24.8%

IREN IREN LIMITED 4.3%

Value ($000) $5,915 Shares 405,974 Est. Cost $9.51 Unrealized +155.3%

COHR COHERENT CORP 1.5%

Value ($000) $2,107 Shares 23,623 Est. Cost $100.05 Unrealized -0.4%

ETOR ETORO GROUP LTD 1.3%

Value ($000) $1,858 Shares 27,900 Est. Cost $59.93 Unrealized -14.1%

COHR COHERENT CORP 1.3%

Value ($000) $1,811 Shares 20,300 Est. Cost $100.05 Unrealized -0.4%

WDC WESTERN DIGITAL CORP 1.2%

Value ($000) $1,717 Shares 26,830 Est. Cost $50.08 Unrealized +62.9%

CLSK CLEANSPARK INC 1.2%

Value ($000) $1,655 Shares 150,000 Est. Cost $11.58 Unrealized -2.6%

WDC WESTERN DIGITAL CORP 1.1%

Value ($000) $1,478 Shares 23,100 Est. Cost $50.08 Unrealized +62.9%

COIN COINBASE GLOBAL INC 1.0%

Value ($000) $1,367 Shares 3,900 Est. Cost $260.31 Unrealized +30.3%

LRCX LAM RESEARCH CORP 0.6%

Value ($000) $857 Shares 8,800 Est. Cost $80.49 Unrealized +31.1%

META META PLATFORMS INC 0.6%

Value ($000) $812 Shares 1,100 Est. Cost $599.62 Unrealized +23.9%

ONTO ONTO INNOVATION INC 0.6%

Value ($000) $800 Shares 7,927 Est. Cost $182.71 Unrealized -41.4%

XYZ BLOCK INC 0.6%

Value ($000) $776 Shares 11,422 Est. Cost $82.04 Unrealized -8.8%

XYZ BLOCK INC 0.5%

Value ($000) $679 Shares 10,000 Est. Cost $82.04 Unrealized -8.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CORZ	CORE SCIENTIFIC INC NEW	541,700	$9,247	6.7%	$11.75	+24.8%	Put	21874A106
IREN	IREN LIMITED	405,974	$5,915	4.3%	$9.51	+155.3%	—	Q4982L109
COHR	COHERENT CORP	23,623	$2,107	1.5%	$100.05	-0.4%	—	19247G107
ETOR	ETORO GROUP LTD	27,900	$1,858	1.3%	$59.93	-14.1%	Put	G32089107
COHR	COHERENT CORP	20,300	$1,811	1.3%	$100.05	-0.4%	Put	19247G107
WDC	WESTERN DIGITAL CORP	26,830	$1,717	1.2%	$50.08	+62.9%	—	958102105
CLSK	CLEANSPARK INC	150,000	$1,655	1.2%	$11.58	-2.6%	Put	18452B209
WDC	WESTERN DIGITAL CORP	23,100	$1,478	1.1%	$50.08	+62.9%	Put	958102105
COIN	COINBASE GLOBAL INC	3,900	$1,367	1.0%	$260.31	+30.3%	Put	19260Q107
LRCX	LAM RESEARCH CORP	8,800	$857	0.6%	$80.49	+31.1%	Put	512807306
META	META PLATFORMS INC	1,100	$812	0.6%	$599.62	+23.9%	Put	30303M102
ONTO	ONTO INNOVATION INC	7,927	$800	0.6%	$182.71	-41.4%	—	683344105
XYZ	BLOCK INC	11,422	$776	0.6%	$82.04	-8.8%	—	852234103
XYZ	BLOCK INC	10,000	$679	0.5%	$82.04	-8.8%	Put	852234103

Decreased Positions (9)

BITF BITFARMS LTD 3.5%

Value ($000) $4,807 (+88.8%) Shares 1,704,529 (-43.8%) Est. Cost $1.28 Unrealized +21.5%

HOOD ROBINHOOD MKTS INC 1.0%

Value ($000) $1,432 (-50.4%) Shares 10,000 (-67.5%) Est. Cost $32.29 Unrealized +237.7%

HOOD ROBINHOOD MKTS INC 1.8%

Value ($000) $2,533 (-34.9%) Shares 17,693 (-57.4%) Est. Cost $32.29 Unrealized +237.7%

IREN IREN LIMITED 3.0%

Value ($000) $4,097 (-18.1%) Shares 87,300 (-74.6%) Est. Cost $9.51 Unrealized +155.3%

CIFR CIPHER MINING INC 2.8%

Value ($000) $3,871 (+17.7%) Shares 307,430 (-55.3%) Est. Cost $5.68 Unrealized +32.9%

GOOGL ALPHABET INC 1.7%

Value ($000) $2,322 (-18.4%) Shares 9,552 (-40.8%) Est. Cost $165.53 Unrealized +26.4%

VRT VERTIV HOLDINGS CO 2.0%

Value ($000) $2,776 (+9.7%) Shares 18,400 (-6.6%) Est. Cost $119.25 Unrealized +11.8%

JPM JPMORGAN CHASE & CO. 1.9%

Value ($000) $2,681 (+1.6%) Shares 8,500 (-6.6%) Est. Cost $241.40 Unrealized +22.6%

MS MORGAN STANLEY 1.4%

Value ($000) $1,892 (+1.7%) Shares 11,900 (-9.8%) Est. Cost $119.91 Unrealized +22.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BITF	BITFARMS LTD	1,704,529 (-43.8%)	$4,807 (+88.8%)	3.5%	$1.28	+21.5%	COM	09173B107
HOOD	ROBINHOOD MKTS INC	10,000 (-67.5%)	$1,432 (-50.4%)	1.0%	$32.29	+237.7%	Put	770700102
HOOD	ROBINHOOD MKTS INC	17,693 (-57.4%)	$2,533 (-34.9%)	1.8%	$32.29	+237.7%	COM CL A	770700102
IREN	IREN LIMITED	87,300 (-74.6%)	$4,097 (-18.1%)	3.0%	$9.51	+155.3%	Put	Q4982L109
CIFR	CIPHER MINING INC	307,430 (-55.3%)	$3,871 (+17.7%)	2.8%	$5.68	+32.9%	COM	17253J106
GOOGL	ALPHABET INC	9,552 (-40.8%)	$2,322 (-18.4%)	1.7%	$165.53	+26.4%	CAP STK CL A	02079K305
VRT	VERTIV HOLDINGS CO	18,400 (-6.6%)	$2,776 (+9.7%)	2.0%	$119.25	+11.8%	Put	92537N108
JPM	JPMORGAN CHASE & CO.	8,500 (-6.6%)	$2,681 (+1.6%)	1.9%	$241.40	+22.6%	Put	46625H100
MS	MORGAN STANLEY	11,900 (-9.8%)	$1,892 (+1.7%)	1.4%	$119.91	+22.1%	Put	617446448

Unchanged Positions (1)

TSM TAIWAN SEMICONDUCTOR MFG LTD 1.6%

Value ($000) $2,151 Shares 7,700 Est. Cost $206.98 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TSM	TAIWAN SEMICONDUCTOR MFG LTD	7,700	$2,151	1.6%	$206.98	—	Put	874039100