Galaxy Digital is launching a new bitcoin mining business unit

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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.

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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May 5, 2022, 3:17PM UTC