Galaxy Digital Mining launched Bitcoin mining operations at the Blockstream facility. However, despite the partnership’s announcement, Galaxy Digital Mining did not provide specific details on the number of machines deployed for the first installation.
The diversified financial services firm noted that its Bitcoin mining operations would use Blockstream facilities to initially deploy machines in Canada and the United States.
A great team behind the company to promote the new unit
In particular, providing financial services to Bitcoin miners has been a work in progress for Galaxy Digital since October 2020. Additionally, Galaxy Digital selected former Fidelity Director of Mining Amanda Fabiano to lead the new mining operations.
Along with Fabiano, Galaxy Digital stated that there is a great team of professionals working to advance the new unit. According to the press release, the new unit will be called Galaxy Digital Mining.
The press release examined the functions of the new mining unit:
«A new business unit committed to providing Bitcoin miners with a full suite of financial products and services. Galaxy Digital Mining will serve as a comprehensive financial services platform for miners. Taking advantage of the company’s experience in trading and risk management, investments and loans. As well as in corporate advice under the same umbrella, adapted to the needs of the mining sector».
Blockstream CEO Adam Back also commented on the new partnership with Galaxy Digital. He said that Galaxy Digital has the opportunity to continue growing with this collaboration.
Galaxy Digital Now Hosts Mining Operations Facilities
Now, Fabiano said the company hopes to continually expand its mining operations. Although Galaxy Digital launched operations with Blockstream, the company did not provide specific details on the number of machines deployed for the first installation.
In January Blockstream announced that it had bought $ 25 million worth of Bitcoin mining machines. To a Chinese manufacturer of MicroBT crypto mining equipment. Blockstream expects to expand its mining operations with its new acquisition.
Galaxy Digital is a diversified investment management and financial services company. In the sector of digital asset technology, cryptocurrencies and blockchain.
Additionally, the Galaxy Digital team has extensive experience in investments, portfolio management, capital markets, venture capital, asset management, and blockchain technology. Galaxy Digital operates in the following businesses: Commerce, Asset Management, Major Investments, Investment Banking, and Mining. The CEO and founder of Galaxy Digital is Michael Novogratz.
For its part, MarketWatch data revealed that Galaxy Digital shares had grown almost 60% since the beginning of the year. The company’s shares have also soared 189.68% in the last three months and almost 30% in the last month.