Galaxy Digital launches new unit focused on Bitcoin mining

Led by Mike Novogratz, Galaxy Digital has opened a new unit focused predominantly on Bitcoin mining, according to a press release.

Galaxy Digital Mining’s product line includes lending, investments and risk-management offerings. Galaxy’s mining equipment was placed in an external data center in the United States.

The division is led by Amanda Fabiano, former top executive at Fidelity Investments. According to her, self-directed mining will allow the company to better understand miners’ financial needs.

Earlier, Galaxy Digital and CI Global Asset Management announced the launch of a Bitcoin fund in Canada.

Earlier in January 2021, Nasdaq-listed The9 Ltd announced entering the mining industry.

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