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.”