Galaxy Digital Capital Management GP LLC Hedge Fund

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IBIT	ISHARES BITCOIN TRUST ETF	168,152	$10,293	8.5%	$61.21	—	SHS BEN INT	46438F101
CORZ	CORE SCIENTIFIC INC NEW	541,700	$9,247	7.6%	$11.38	-12.1%	Put	21874A106
IREN	IREN LIMITED	343,500	$5,005	4.1%	$9.51	-14.6%	Put	Q4982L109
RIOT	RIOT PLATFORMS INC	271,000	$3,062	2.5%	$10.89	-21.9%	Put	767292105
HOOD	ROBINHOOD MKTS INC	30,800	$2,884	2.4%	$32.29	+83.3%	Put	770700102
JPM	JPMORGAN CHASE & CO.	9,100	$2,638	2.2%	$239.02	+5.7%	Put	46625H100
VRT	VERTIV HOLDINGS CO	19,700	$2,530	2.1%	$118.54	-18.0%	Put	92537N108
ETOR	ETORO GROUP LTD	32,499	$2,164	1.8%	$64.04	0.0%	SHS CL A	G32089107
MS	MORGAN STANLEY	13,200	$1,859	1.5%	$119.57	+1.2%	Put	617446448
ETOR	ETORO GROUP LTD	27,900	$1,858	1.5%	$64.04	0.0%	Put	G32089107
COHR	COHERENT CORP	20,300	$1,811	1.5%	$100.05	-28.1%	Put	19247G107
TSM	TAIWAN SEMICONDUCTOR MFG LTD	7,700	$1,744	1.4%	$197.49	—	Put	874039100
CLSK	CLEANSPARK INC	150,000	$1,655	1.4%	$12.11	-26.5%	Put	18452B209
IBIT	ISHARES BITCOIN TRUST ETF	25,800	$1,579	1.3%	$61.21	—	Put	46438F101
WDC	WESTERN DIGITAL CORP	23,100	$1,478	1.2%	$50.08	-5.2%	Put	958102105
COIN	COINBASE GLOBAL INC	3,900	$1,367	1.1%	$251.86	-7.2%	Put	19260Q107
LRCX	LAM RESEARCH CORP	8,800	$857	0.7%	$78.12	+0.9%	Put	512807306
XYZ	BLOCK INC	10,000	$679	0.6%	$82.04	-29.1%	Put	852234103

Increased Positions (8)

IREN IREN LIMITED 4.9%

Value ($000) $5,915 (+178.3%) Shares 405,974 (+16.3%) Est. Cost $9.51 Unrealized -14.6%

GOOGL ALPHABET INC 2.3%

Value ($000) $2,845 (+452.0%) Shares 16,143 (+384.3%) Est. Cost $165.53 Unrealized -1.4%

JPM JPMORGAN CHASE & CO. 2.5%

Value ($000) $3,010 (+113.5%) Shares 10,383 (+80.6%) Est. Cost $239.02 Unrealized +5.7%

MA MASTERCARD INCORPORATED 2.2%

Value ($000) $2,651 (+78.4%) Shares 4,717 (+74.0%) Est. Cost $530.32 Unrealized +4.0%

V VISA INC 2.2%

Value ($000) $2,634 (+68.1%) Shares 7,420 (+65.9%) Est. Cost $317.66 Unrealized +9.2%

BITF BITFARMS LTD 2.1%

Value ($000) $2,546 (+21.4%) Shares 3,030,350 (+13.9%) Est. Cost $1.28 Unrealized -27.6%

MS MORGAN STANLEY 1.7%

Value ($000) $2,114 (+25.9%) Shares 15,010 (+4.3%) Est. Cost $119.57 Unrealized +1.2%

LRCX LAM RESEARCH CORP 0.8%

Value ($000) $1,018 (+36.6%) Shares 10,454 (+2.0%) Est. Cost $78.12 Unrealized +0.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IREN	IREN LIMITED	405,974 (+16.3%)	$5,915 (+178.3%)	4.9%	$9.51	-14.6%	ORDINARY SHARES	Q4982L109
GOOGL	ALPHABET INC	16,143 (+384.3%)	$2,845 (+452.0%)	2.3%	$165.53	-1.4%	CAP STK CL A	02079K305
JPM	JPMORGAN CHASE & CO.	10,383 (+80.6%)	$3,010 (+113.5%)	2.5%	$239.02	+5.7%	COM	46625H100
MA	MASTERCARD INCORPORATED	4,717 (+74.0%)	$2,651 (+78.4%)	2.2%	$530.32	+4.0%	CL A	57636Q104
V	VISA INC	7,420 (+65.9%)	$2,634 (+68.1%)	2.2%	$317.66	+9.2%	COM CL A	92826C839
BITF	BITFARMS LTD	3,030,350 (+13.9%)	$2,546 (+21.4%)	2.1%	$1.28	-27.6%	COM	09173B107
MS	MORGAN STANLEY	15,010 (+4.3%)	$2,114 (+25.9%)	1.7%	$119.57	+1.2%	COM NEW	617446448
LRCX	LAM RESEARCH CORP	10,454 (+2.0%)	$1,018 (+36.6%)	0.8%	$78.12	+0.9%	COM NEW	512807306

Exited Positions (16)

QQQ INVESCO QQQ TR 8.0%

Value ($000) $9,660 Shares 20,600 Est. Cost — Unrealized —

MU MICRON TECHNOLOGY INC 5.1%

Value ($000) $6,130 Shares 70,548 Est. Cost $100.59 Unrealized -7.3%

BITO PROSHARES TR 2.2%

Value ($000) $2,671 Shares 145,800 Est. Cost — Unrealized —

MARA MARA HOLDINGS INC 1.5%

Value ($000) $1,852 Shares 161,000 Est. Cost — Unrealized —

AAPL APPLE INC 1.4%

Value ($000) $1,688 Shares 7,600 Est. Cost — Unrealized —

HUT HUT 8 CORP 1.2%

Value ($000) $1,454 Shares 125,112 Est. Cost $18.46 Unrealized -19.2%

BABA ALIBABA GROUP HLDG LTD 1.1%

Value ($000) $1,309 Shares 9,900 Est. Cost — Unrealized —

AMD ADVANCED MICRO DEVICES INC 1.0%

Value ($000) $1,252 Shares 12,189 Est. Cost $143.89 Unrealized -24.3%

AMD ADVANCED MICRO DEVICES INC 0.9%

Value ($000) $1,110 Shares 10,800 Est. Cost $143.89 Unrealized -24.3%

IBKR INTERACTIVE BROKERS GROUP IN 0.9%

Value ($000) $1,043 Shares 6,300 Est. Cost — Unrealized —

NXPI NXP SEMICONDUCTORS N V 0.8%

Value ($000) $1,026 Shares 5,400 Est. Cost — Unrealized —

APLD APPLIED DIGITAL CORP 0.8%

Value ($000) $984 Shares 175,155 Est. Cost $7.85 Unrealized -6.1%

IBIT ISHARES BITCOIN TRUST ETF 0.8%

Value ($000) $983 Shares 21,000 Est. Cost $61.21 Unrealized —

KWEB KRANESHARES TRUST 0.6%

Value ($000) $778 Shares 22,300 Est. Cost — Unrealized —

SNDK SANDISK CORP 0.4%

Value ($000) $463 Shares 9,735 Est. Cost $49.67 Unrealized -23.0%

ETHA ISHARES ETHEREUM TR 0.4%

Value ($000) $439 Shares 31,790 Est. Cost $25.29 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
QQQ	INVESCO QQQ TR	20,600	$9,660	8.0%	—	—	Put	46090E103
MU	MICRON TECHNOLOGY INC	70,548	$6,130	5.1%	$100.59	-7.3%	—	595112103
BITO	PROSHARES TR	145,800	$2,671	2.2%	—	—	Put	74347G440
MARA	MARA HOLDINGS INC	161,000	$1,852	1.5%	—	—	Put	565788106
AAPL	APPLE INC	7,600	$1,688	1.4%	—	—	Put	037833100
HUT	HUT 8 CORP	125,112	$1,454	1.2%	$18.46	-19.2%	—	44812J104
BABA	ALIBABA GROUP HLDG LTD	9,900	$1,309	1.1%	—	—	Put	01609W102
AMD	ADVANCED MICRO DEVICES INC	12,189	$1,252	1.0%	$143.89	-24.3%	—	007903107
AMD	ADVANCED MICRO DEVICES INC	10,800	$1,110	0.9%	$143.89	-24.3%	Put	007903107
IBKR	INTERACTIVE BROKERS GROUP IN	6,300	$1,043	0.9%	—	—	Put	45841N107
NXPI	NXP SEMICONDUCTORS N V	5,400	$1,026	0.8%	—	—	Put	N6596X109
APLD	APPLIED DIGITAL CORP	175,155	$984	0.8%	$7.85	-6.1%	—	038169207
IBIT	ISHARES BITCOIN TRUST ETF	21,000	$983	0.8%	$61.21	—	Call	46438F101
KWEB	KRANESHARES TRUST	22,300	$778	0.6%	—	—	Call	500767306
SNDK	SANDISK CORP	9,735	$463	0.4%	$49.67	-23.0%	—	80004C200
ETHA	ISHARES ETHEREUM TR	31,790	$439	0.4%	$25.29	—	—	46438R105

Decreased Positions (12)

CORZ CORE SCIENTIFIC INC NEW 13.2%

Value ($000) $16,034 (+94.1%) Shares 939,333 (-17.7%) Est. Cost $11.38 Unrealized -12.1%

CIFR CIPHER MINING INC 2.7%

Value ($000) $3,289 (-44.3%) Shares 688,076 (-73.2%) Est. Cost $5.68 Unrealized -43.0%

COIN COINBASE GLOBAL INC 1.3%

Value ($000) $1,629 (-60.5%) Shares 4,649 (-80.6%) Est. Cost $251.86 Unrealized -7.2%

XYZ BLOCK INC 0.6%

Value ($000) $776 (-65.4%) Shares 11,422 (-72.3%) Est. Cost $82.04 Unrealized -29.1%

HOOD ROBINHOOD MKTS INC 3.2%

Value ($000) $3,892 (+54.4%) Shares 41,570 (-31.4%) Est. Cost $32.29 Unrealized +83.3%

TSM TAIWAN SEMICONDUCTOR MFG LTD 1.7%

Value ($000) $2,037 (-30.4%) Shares 8,992 (-49.0%) Est. Cost $197.49 Unrealized —

CLSK CLEANSPARK INC 1.6%

Value ($000) $1,906 (-30.1%) Shares 172,759 (-57.4%) Est. Cost $12.11 Unrealized -26.5%

VRT VERTIV HOLDINGS CO 2.4%

Value ($000) $2,926 (+38.0%) Shares 22,784 (-22.4%) Est. Cost $118.54 Unrealized -18.0%

RIOT RIOT PLATFORMS INC 4.1%

Value ($000) $4,970 (-9.9%) Shares 439,779 (-43.2%) Est. Cost $10.89 Unrealized -21.9%

WDC WESTERN DIGITAL CORP 1.4%

Value ($000) $1,717 (+45.5%) Shares 26,830 (-8.1%) Est. Cost $50.08 Unrealized -5.2%

BLK BLACKROCK INC 1.5%

Value ($000) $1,785 (-22.3%) Shares 1,701 (-29.9%) Est. Cost $981.72 Unrealized -5.0%

META META PLATFORMS INC 0.8%

Value ($000) $954 (+26.4%) Shares 1,293 (-1.3%) Est. Cost $584.74 Unrealized +5.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CORZ	CORE SCIENTIFIC INC NEW	939,333 (-17.7%)	$16,034 (+94.1%)	13.2%	$11.38	-12.1%	COM	21874A106
CIFR	CIPHER MINING INC	688,076 (-73.2%)	$3,289 (-44.3%)	2.7%	$5.68	-43.0%	COM	17253J106
COIN	COINBASE GLOBAL INC	4,649 (-80.6%)	$1,629 (-60.5%)	1.3%	$251.86	-7.2%	COM CL A	19260Q107
XYZ	BLOCK INC	11,422 (-72.3%)	$776 (-65.4%)	0.6%	$82.04	-29.1%	CL A	852234103
HOOD	ROBINHOOD MKTS INC	41,570 (-31.4%)	$3,892 (+54.4%)	3.2%	$32.29	+83.3%	COM CL A	770700102
TSM	TAIWAN SEMICONDUCTOR MFG LTD	8,992 (-49.0%)	$2,037 (-30.4%)	1.7%	$197.49	—	SPONSORED ADS	874039100
CLSK	CLEANSPARK INC	172,759 (-57.4%)	$1,906 (-30.1%)	1.6%	$12.11	-26.5%	COM NEW	18452B209
VRT	VERTIV HOLDINGS CO	22,784 (-22.4%)	$2,926 (+38.0%)	2.4%	$118.54	-18.0%	COM CL A	92537N108
RIOT	RIOT PLATFORMS INC	439,779 (-43.2%)	$4,970 (-9.9%)	4.1%	$10.89	-21.9%	COM	767292105
WDC	WESTERN DIGITAL CORP	26,830 (-8.1%)	$1,717 (+45.5%)	1.4%	$50.08	-5.2%	COM	958102105
BLK	BLACKROCK INC	1,701 (-29.9%)	$1,785 (-22.3%)	1.5%	$981.72	-5.0%	COM	09290D101
META	META PLATFORMS INC	1,293 (-1.3%)	$954 (+26.4%)	0.8%	$584.74	+5.5%	CL A	30303M102

Unchanged Positions (3)

COHR COHERENT CORP 1.7%

Value ($000) $2,107 Shares 23,623 Est. Cost $100.05 Unrealized -28.1%

META META PLATFORMS INC 0.7%

Value ($000) $812 Shares 1,100 Est. Cost $584.74 Unrealized +5.5%

ONTO ONTO INNOVATION INC 0.7%

Value ($000) $800 Shares 7,927 Est. Cost $182.71 Unrealized -41.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
COHR	COHERENT CORP	23,623	$2,107	1.7%	$100.05	-28.1%	COM	19247G107
META	META PLATFORMS INC	1,100	$812	0.7%	$584.74	+5.5%	Put	30303M102
ONTO	ONTO INNOVATION INC	7,927	$800	0.7%	$182.71	-41.5%	COM	683344105