Galaxy Digital is launching a new bitcoin mining business unit

Crypto investment company Galaxy Digital announced Friday that it is launching a new suite of financial services and tools for the bitcoin mining sector.

What's more, the Toronto-listed firm is also mining bitcoin for itself via a third-party, U.S.-based data center, which is hosting hardware owned by Galaxy.


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Galaxy's new business unit, dubbed Galaxy Digital Mining, aims to offer “one-stop financial services” for miners, according to a statement published Friday. Amanda Fabiano, who previously served as Fidelity Digital Assets's Director of Bitcoin Mining, will lead the unit.

"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,” Fabiano said in the statement.

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MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.