New Galaxy Digital Mining business launches in 2021,
integrating with existing business lines to offer trade and risk
management solutions, principal lending and equity investments, and
M&A advisory services for bitcoin miners. In addition to
providing financial services to miners, Galaxy Digital Mining will
also mine bitcoin on a proprietary basis.
NEW YORK, Jan. 14, 2021 /CNW/ - Galaxy Digital (TSX:
GLXY), a diversified financial services and investment management
company in the digital asset sector, announces the launch of Galaxy
Digital Mining, a new business unit committed to providing bitcoin
miners with a comprehensive suite of financial services and
products. Galaxy Digital Mining will serve as a one-stop
financial services platform for miners—drawing the firm's expertise
in trading and risk management, investing and lending, and
corporate advisory under one umbrella, tailored to the needs of the
mining sector.
![Galaxy Digital Holdings Ltd. (CNW Group/Galaxy Digital Holdings Ltd.) Galaxy Digital Holdings Ltd. (CNW Group/Galaxy Digital Holdings Ltd.)](https://mma.prnewswire.com/media/1420921/Galaxy_Digital_Holdings_Ltd__Galaxy_Digital_Launches_New_Busines.jpg)
Leading this new business is Amanda
Fabiano, who joined Galaxy from Fidelity Investments, where
she oversaw the firm's mining investments and initiatives as
Director of Bitcoin Mining. The team working alongside her brings
deep experience at the intersection of traditional finance and
digital assets, with backgrounds spanning real asset financing,
non-traditional securitization, structured products, investment
banking, and strategic advisory.
Simultaneously, Galaxy Digital Mining has also established its
own proprietary bitcoin mining operation, hosting its machines at a
third-party datacenter in the U.S. "Bitcoin mining is the
foundation of the Bitcoin network. By mining ourselves, we are able
to deeply understand and solve for the financial needs of miners,
while also enhancing the strength of the industry and thus the
strength of the Bitcoin network", said Fabiano.
"Through consistent and dedicated coverage of this sector over
the past two years, we have had the opportunity to review every
major proposed project, and our brand and market position uniquely
enable us to connect operators and equipment providers with
capital. 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," added Galaxy's
Co-President, Chris Ferraro.
If you are interested in learning more about Galaxy Digital
Mining's capabilities, please email mining@galaxydigital.io.
About Galaxy Digital
Galaxy Digital is a diversified financial services and
investment management company in the digital asset, cryptocurrency
and blockchain technology sector. Galaxy Digital's team has
extensive experience spanning investing, portfolio management,
capital markets, venture capital, asset management, and blockchain
technology. Galaxy Digital operates in the following businesses:
Trading, Asset Management, Principal Investments, Investment
Banking and Mining. Galaxy Digital's CEO and Founder
is Michael Novogratz. Additional information about the
Company's businesses and products is available
on www.galaxydigital.io.
Disclaimers
The TSX has neither approved nor disapproved the contents of
this press release.
This press release includes certain "forward-looking
information" and "forward-looking statements" (collectively
"forward-looking statements"). All statements, other than
statements of historical or current fact, included herein, are
forward-looking statements. Forward-looking statements are
frequently, but not always, identified by words such as "expects",
"anticipates", "believes", "intends", "estimates", "potential",
"possible", and similar expressions, or statements that events,
conditions, or results "will", "may", "could", or "should" occur or
be achieved. Forward-looking statements in this press release
relate to, among other things, the Company's ability to realize its
goal of serving as a one-stop financial services platform for
miners and the opportunities in the mining business. There can be
no assurance that such statements will prove to be accurate, and
actual results and future events could differ materially from those
anticipated in such statements. Forward-looking statements reflect
the beliefs, opinions and projections on the date the statements
are made and are based upon a number of assumptions and estimates
that, while considered reasonable by the Company, are inherently
subject to significant business, economic, competitive, political
and social uncertainties and contingencies. Forward looking
statements are subject to the risk that the price of bitcoin, the
mining industry or global economy do not perform as anticipated,
that revenue or expense expectations may not be met or may be
materially less or more than those anticipated, that the mining
financing business is not able to gain traction with clients and
partners and those other risks contained in the MD&As and
Annual Information Form (AIF) for the year ended December 31,
2019 and available on SEDAR at www.sedar.com. Factors
that could cause actual results of the Company and its businesses
to differ materially from those described in such forward-looking
statements include, but are not limited to, a decline in the
digital asset market or general economic conditions or a delay or
failure in developing infrastructure for the mining business or
achieving mandates. Many factors, both known and unknown,
could cause actual results, performance or achievements to be
materially different from the results, performance or achievements
that are or may be expressed or implied by such forward-looking
statements and the parties have made assumptions and estimates
based on or related to many of these factors. Readers should not
place undue reliance on the forward-looking statements and
information contained in this release. The forward-looking
statements in this press release are applicable only as of the date
of this release or as of the date specified in the relevant
forward-looking statement and Galaxy Digital undertakes no
obligation to update any forward-looking statement to reflect
events or circumstances after that date or to reflect the
occurrence of unanticipated events.
SOURCE Galaxy Digital Holdings Ltd.