银河数字公司美国存托凭证招股说明书(2025-10-20版)

245,062,407Shares This prospectus supplement is being filed to update and supplement the information contained in the prospectus dated May29, 2025, as supplemented by Prospectus Supplement No. 1, dated June 12, 2025, No. 2, dated July 29, 2025, No. 3, dated August 5,2025, No. 4, dated August 11, 2025, No. 5, dated August 15, 2025, No. 6, dated August 29, 2025, and No. 7, dated October 14, 2025(the “Prospectus”), which forms part of our registration statement on Form S-1 (No. 333-287605) with the information contained inour Current Report on Form 8-K/A, filed with the Securities and Exchange Commission (the “SEC”) on October 20, 2025 (the“Amended Current Report”). Accordingly, we have attached the Amended Current Report to this prospectus supplement. The Prospectus and this prospectus supplement relate to the offer and sale from time to time by the selling stockholdersnamed in the Prospectus (the “Selling Stockholders”) of up to 245,062,407 shares (the “Resale Shares”) of Class A common stock, parvalue $0.001 per share (“Class A common stock”), of Galaxy Digital Inc. (“GDI”), consisting of (i) 213,112,343 shares of Class Acommon stock issuable upon redemption or exchange of an equivalent number of limited partnership units (the “LP Units”) of GalaxyDigital Holdings LP (“GDH LP”), (ii) up to 2,750,000 shares of Class A common stock held by certain selling stockholders as of thedate hereof, (iii) up to16,562,570 shares of Class A common stock issuable upon exchange of the 3.00% Exchangeable Senior Notesdue 2026 issued by GDH LP (the “2026 Exchangeable Notes”) and (iv) up to 12,637,494 shares of Class A common stock issuableupon the exchange of the 2.500% Exchangeable Senior Notes due 2029 issued by GDH LP (the “2029 Exchangeable Notes” and,together with the 2026 Exchangeable Notes, the “Exchangeable Notes”). This prospectus supplement updates and supplements the information in the Prospectus and is not complete without, and maynot be delivered or utilized except in combination with, the Prospectus, including any amendments or supplements thereto. Thisprospectus supplement should be read in conjunction with the Prospectus and if there is any inconsistency between the information inthe Prospectus and this prospectus supplement, you should rely on the information in this prospectus supplement. Terms used in thisprospectus supplement but not defined herein shall have the meanings given to such terms in the Prospectus. Our Class A common stock is listed on the Nasdaq Global Select Market (“Nasdaq”) and the Toronto Stock Exchange (the“TSX”) under the symbol “GLXY.” On October 17, 2025 the last reported sale price of our Class A common stock on Nasdaq was$37.78 per share. Sales of a substantial number of shares of our Class A common stock in the public market, including any sales by the SellingStockholders, could occur at any time. These sales, or the perception that such sales may occur, could have a significant negativeimpact on the trading price of our Class A common stock. We are a holding company and, as a result of the Reorganization Transactions (a series of transactions described furtherelsewhere in our Prospectus), our principal assets are our direct ownership of (i) certain LP Units, which entitle us to acorrespondingpercentage ownership of the economic interest in GDH LP (and as a result, Galaxy’s business), and (ii) all of thegeneral partnership interests of GDH LP, which entitles us to operate and control all of the business and affairs of GDH LP as its solegeneral partner, and, through GDH LP and its subsidiaries, to conduct all of Galaxy’s business. As ofOctober 16, 2025, weowned48.91% of the total economic interest in GDH LP. The remaining economic interest in GDH LP is owned by entities controlledby Michael Novogratz, our Chief Executive Officer and Founder (our “Founder”), and certain other limited partners of GDH LP, ineach case, through their respective ownership of LP Units. Investing in our Class A common stock involves a high degree of risk. See “Risk Factors” beginning on page12of theProspectus. Neither the SEC nor any state securities commission has approved or disapproved of these securities or passed uponthe adequacy or accuracy of the Prospectus or this prospectus supplement. Any representation to the contrary is a criminaloffense. Prospectus supplement dated October 20, 2025 UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWASHINGTON, D.C. 20549 FORM 8-K/A CURRENT REPORTPursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934Date of Report (Date of earliest event reported): August 15, 2025 Galaxy Digital Inc.(Exact name of registrant as specified in its charter) (212) 390-9216(Registrant’s telephone number, including area code) Not Applicable(Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrantunder any of the following pr