Galaxy Digital announced the launch of financial services for miners and its own mining, which it has been preparing since last fall.
According to the press release, the publicly traded digital asset management company is integrating existing lines of business with miner-centric financial services – MiFi (MinerFinance), including lending, investment and risk management offerings.
Galaxy Digital Mining, the company’s mining arm, will oversee the firm’s own cryptocurrency mining operations. Business unit chief Amanda Fabiano said the launch of cryptocurrency mining operations is helping Galaxy “to better understand and meet the financial needs of miners.”
Galaxy Digital will provide miners with a wide range of services: financing, assistance in converting BTC into fiat currencies, as well as advice on stock markets and the expansion of mining activities.
In October, the founder of the Galaxy Digital cryptocurrency fund, Mike Novogratz, announced the development of a service to provide financial assistance to Bitcoin miners. $ 400 million was allocated for this initiative.
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