Galaxy Digital Launches New Mining Business Unit
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Galaxy Digital Launches New Mining Business Unit

January 16, 2021      Vandana Malik

Galaxy Digital, a financial services and investment management firm, has launched its new mining business unit. New Galaxy Digital Mining business will be offering a wide range of trade and risk management solutions. Along with this, it will also offer M&A advisory services for Bitcoin miners and will also mine Bitcoin on a proprietary basis. It is believed that this mining business unit will be a complete financial services platform for the miners. 

Amanda Fabiano Will Lead the Galaxy Digital Mining Business

As per the official press release, it is revealed that this new Galaxy Digital Mining business will be lead by Amanda Fabiano along with her whole team. The team working of this business unit is highly experienced in intersecting traditional finance and digital assets with real asset financing, structured products, strategic advisory, investment banking, and non-traditional scrutinization. 

Galaxy Digital has moved way ahead in Bitcoin mining as it has also established its Bitcoin mining operation. According to Fabiano, Bitcoin mining is one of the biggest foundations of the Bitcoin ecosystem. She further said that as their firm is mining Bitcoin themselves, it is easy to understand and solve the financial requirements of the miners. Along with this, the firm is also focusing on enhancing the strength of the Bitcoin network and the whole crypto market

Major Opportunities Lying Ahead in Mining Business

Galaxy Digital is in the mining sector for the past two years and with this, they can review various projects. Chris Ferraro, Galaxy Digital’s co-president, has mentioned that the brand and market position of the firm, help them to connect the equipment providers and operators with Capital. Ferraro further said: 

“Going forward, we see major opportunities in mining project financing, equipment financing, digital asset-backed financing, as well as working capital optimization and hedging solutions for mine operators and investors utilizing Galaxy Digital Trading’s industry-leading capabilities.”

READ  Galaxy Digital Becomes Minority Shareholder in ParaFi Capital
#Amanda Fabiano #Chris Ferraro #Galaxy Digital #Galaxy Digital Mining Business
Vandana Malik
Vandana Malik

Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.